Does Opening a New Credit Card Hurt Your Credit Score?
You've been doing research about credit scores, and you know one of the FICO score factors is new credit. Another 15% comes from length of credit history (including the age of your newest account). And since you're a smart cookie, you figured out that opening a new credit card would negatively affect factors composing 25% of your FICO score.
But you might be missing out on the big picture. After all, lenders wouldn't want to use a system that discourages people from opening a new account.
Yes, applying for a new credit card could temporarily hurt your credit score. In the long run, though, it should provide a boost, as long as you use your new credit responsibly.
Source: Fool.com