- Centurion Member
- Posts: 1099
- Joined: Sun May 04, 2014 4:41 pm
- Location: Atlanta, GA
ingramjuan wrote:I am to assume my credit score will drop around 10 to 15 points when I apply for a new credit card / charge card? How are credit scores calculated with a charge card, since you pay the balance in full each month and you don't have a credit limit?
I can tell you that they will not affect your utilization at all but you'll still have a limit as how much you can charge (which obviously isn't reported either) which Amex will increase from time to time provided that you're using the card and have good payment history, etc.
And the effect a HP will have on your CR will depend on several things as Takeshi has noted above. One time when I had an inquiry added onto one of my reports, my FICO score somehow actually went up but I assume there were other factors at play there.
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