- Centurion Member
- Posts: 1200
- Joined: Sun Jan 26, 2014 3:55 am
- Location: US
It will have a negative impact in the short term. You will take a hit from another HP and opening a new account will cause your AAoA to drop. In the long term, the HP will fall off after 2 years (and the negative impact will weaken as it ages before the 2 year fall-off point), it will help your AAoA as the account ages, and another tradeline with on-time payments will help your history.
The real question is do you need the 18-month introductory APR on purchases? Did you want to use this to finance something, or is it more for "insurance" purposes? If the latter, IMO you'd be better off just keeping this account and using it for the rewards. If the former, and you really need a 0% purchase APR period, you may be better off applying for an account where that is the main draw (such as the Citi Diamond Preferred's 21-month intro purchase period) as any card's rewards will quickly be erased if you're paying any interest.
If you do need the intro period, though, be sure your card doesn't have it before taking any action! This should be in your agreement's terms, you could call a CSR to verify, or at the very least you could see when your first statement cuts.
EX - 805 (2/17) | TU - 787 (2/17)
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now