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Returning Member
posted Oct 24, 2020 4:59:28 PM

I was just approved for Discovered card

Will that improve my credit score...?

0 1 1660
1 Best answer
Level 15
Oct 25, 2020 9:05:26 AM

Not at first.  Opening a new credit card can temporarily ding your credit score. When a card issuer looks at your credit information because you've applied for a credit card, it is a so-called “hard pull.” That can lead to a slight drop in your credit score, whether you are approved or not.

 

See the following for how and how not opening a new credit card will affect your credit.

https://www.nerdwallet.com/article/finance/will-new-credit-card-hurt-credit-score#:~:text=Opening%20a%20new%20credit%20card%20can%20temporarily%20ding%20your%20credit,you%20are%20approved%20or%20not.

1 Replies
Level 15
Oct 25, 2020 9:05:26 AM

Not at first.  Opening a new credit card can temporarily ding your credit score. When a card issuer looks at your credit information because you've applied for a credit card, it is a so-called “hard pull.” That can lead to a slight drop in your credit score, whether you are approved or not.

 

See the following for how and how not opening a new credit card will affect your credit.

https://www.nerdwallet.com/article/finance/will-new-credit-card-hurt-credit-score#:~:text=Opening%20a%20new%20credit%20card%20can%20temporarily%20ding%20your%20credit,you%20are%20approved%20or%20not.