- Centurion Member
- Posts: 464
- Joined: Sat Apr 13, 2013 7:49 pm
- Location: Colorado, USA
Regarding the "points game"...
Keep in mind also, there is an impact of the inquiry for the new credit card, as well as an impact of the new trade line. These are usually negative. A very general rule of thumb is that, with a new inquiry/TL, you're likely to lose ~10 points, but you will get them back and net 5 additional points when the TL ages some, usually in a few months; your history has to build up some. As with everything credit wise, YMMV. This was something a financial advisor told me about early on in my credit journey, with the caveat that this was a simple generality for educational purposes.
As a sidebar, I just had one of my accounts closed due to a fraud alert, and a replacement card sent. Lost 5 points in the process. No big deal, it will bounce back, but just to illustrate how TL activity can affect scores.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016