Earlier this week I wrote about my latest credit score report. My credit score was 779. Before that it was 776 and before that it was 773. You might notice a pattern. Then this past week FreeMoneyFinance (one of my favorite personal finance blogs) wrote How Getting a New Credit Card Impacts Your Credit Score
It occurred to me that during that time we applied for and got a Sears credit card while buying a new dishwasher.
Here is the timeline of my credit score checks and getting that Sears card.
Dec 2009 = credit score 773
May 2010 = apply for Sears credit card
July 2010 = credit score 776
July 2011 = credit score 779
It would seem that getting that Sears card didn't have much impact on my credit score at all. You can see that before I got the Sears card my credit score was 773 and then after I got the card it had gone up to 776. Its possible that the card application had a negative short term impact but if so then it didn't last. I would expect though that if there was a large impact to the credit score that it would have lingered longer or had more impact in general.
I should point out that this isn't super scientific. Ideally I would have wanted to check the credit score the week before I applied for the credit card and then checked it again the week after and then monitored it for a while longer.
July 10, 2011
Getting Another Credit Card Didn't Hurt my Credit Score
Labels:
credit cards,
credit report