New Credit
The FICO score factor that accounts for 10% of your score. Covers recent credit applications (hard inquiries) and newly opened accounts. Opening several new accounts in a short period can lower your score.
Related guides
- Full credit & FICO® glossary
Browse all defined terms by category.
- Hard Inquiry
A credit check that occurs when you apply for new credit — a credit card, loan, mortgage, or auto financing. Hard inquiries may lower your FICO score by a few points (typically fewer than 5) and remain on your credit report for two years. Also called a 'hard pull.'
- FICO Score
A three-digit number ranging from 300 to 850 that represents your creditworthiness, calculated by the Fair Isaac Corporation (FICO) using data from your credit report. Used by 90% of top US lenders to evaluate loan and credit card applications.
Frequently Asked Questions About New Credit
What does New Credit mean?
The FICO score factor that accounts for 10% of your score. Covers recent credit applications (hard inquiries) and newly opened accounts. Opening several new accounts in a short period can lower your score.
Is New Credit important for my FICO® score?
Yes — New Credit is one of the five factors that directly determine your FICO® score. Understanding it helps you make better decisions about your credit.