My credit score is currently good (about 735), and I don%26#039;t want to ruin it. However, since I%26#039;ve been 18, I%26#039;ve only had one credit card, and I%26#039;m 22 now, and I need another. I just got approved for an American Express blue credit card, and I want to go ahead and get it, but I%26#039;m worried that it will hurt my credit score. Do you think this will happen? And if so, by how much? Thanks in advance!
If I apply for a pre-approved credit-card, will it hurt my credit score?
Once a consumer makes their initial purchase using the American Express One card, $25 is deposited into a high-yield savings account with a current annual percentage yield (APY) of 3.5%. This account is also FDIC insured. After this initial amount is deposited, 1% of all other purchases are deposited into the account, and interest begins accumulating. There is no cap to deposits annually, and the card comes with a 12.99% APR with no annual fee.
How to take advantage of this offer:
Make timely payments. If late payments are made, the APR on the American Express One card will increase. Also, try to pay off as much of the balance as possible at the end of each billing period. If consumers pay off their balances in full at the end of every month, this card can act as a better savings acoount than those offered by local banks. Let%26#039;s say that a consumer spends $10,000 per month on their American Express One Card. $1200 will be deposited into the savings account annually, earning $42 in accrued interest. This bodes for a very secure and profitable savings plan. Apply online for a best american express credit card at: http://www.credit-card-gallery.com/Ameri...
If I apply for a pre-approved credit-card, will it hurt my credit score?
No, it will not hurt your credit score. Only late payments and no payments will hurt your credit score. If you pay your account in full each month it will make your credit score go up.
If I apply for a pre-approved credit-card, will it hurt my credit score?
You have a very good fico score right now, accepting a credit offer may lower your fico by a point or two, but more importantly, you should make sure that the card you get is going to do something for you. Does the American Express card give you free miles or cash back? If not, then you should apply for a good car that does offer you some benefits. Capital One, Premier Bank or Bank of America all have great cards that will give you cash back, airline miles or very low percentage rates. Make sure you use your good credit to your advantage.
If I apply for a pre-approved credit-card, will it hurt my credit score?
They say everytime a creditor pulls your score it dings you about 3 pts, BUT, those pts can be earned back very quickly. So the short answer to your question is that it will NOT hurt your score. Only people who open like 10 new cards a year will notice there score being affected.
If I apply for a pre-approved credit-card, will it hurt my credit score?
it will hurt for a min,but when u start making payment on time it will improve your score over time..
If I apply for a pre-approved credit-card, will it hurt my credit score?
It won%26#039;t %26quot;hurt%26quot; your score, per se, but it will make an impact. Inquiries take points off of your score. Unfortunately, it%26#039;s proprietary information and the bureaus will probably never tell us exactly how many points they deduct from your score when you apply for credit.
Applying for the card will not ruin your FICO scores.
If I apply for a pre-approved credit-card, will it hurt my credit score?
I agree with Iceman, usually when your credit is pulled when you apply for these kinds of offers, your score dips down a few points, but it will go back up once you%26#039;re approved and you start using the card it should go back up.
Keep in mind that this only affects 10% of your score, so you don%26#039;t have to worry about that. I would just stay away from appyling at anything that moves, that in itself will hurt your score.
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