Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
Harald85

0 Contributions
0 People Helped
credit score impact of new card, utilization ratio under 10%, lenght of credit 2 years
Hi, I'm trying to determine the impact on my credit score for my specific situation.
My credit is good 775, age of credit history 2 years, total accounts 7, utilization ratio 1%, 2 hard inquires, no derogatory remarks, 100% payment history. There's a new offer from Delta 70000 bonus miles when signing up. It seems like to good a deal to pass up.
But how will it impact my personal credit score. My utilization is low, 2 hard inquires, only 2 years of credit history. I care more about raising my score than having another card but on the other hand the number of accounts on my report is low.
Any advice is very much appreciated.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
46 Contributions
96 People Helped

I'd go for it

I've added 4 new accounts in the past month.  My scores dropped between 2-3 points per inquiry, but went up 10-15 points each time the new credit account was added to my reports.  So, in my situation with credit scores starting around 675, there was an immediate drop of 2-3 points per account, so a drop back of 8-12 points, but within a few weeks my scores were substantially higher; 700-710 currently.  I have 6 hard inquiries over 2 years now, with 2 about to be aged off in a month.  My utilization rate was under 5% when applying, and is now under 2%.  So, with you being in a substantially stronger credit position than me, the negative effect may be even less, and positive effect even more.  

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.