How long it takes for credit score to recover after a drop from a hard call?

Question

I plan to apply for a musician's friend platinum card to buy an instrument with their monthly payment & no interest for a year offer. I understand by doing so my credit score will drop due to the hard call by the bank and also due to the fact that the item I buy will probably use the credit line in the full. So

is this correct? and if so how long will it take to recover? Currently I have a very good credit score and is worried of the effects. (P.S i have not applied for a card in a year and do not plan to have any future credit) ...thanks

Answer 1

go to http://www.cellsware.info/restorecredit and they'll help you with raising your credit score. i raised mine 30 points in about 3 months.

Answer 2

if you have no plans for future credit, what does it matter? it will recover when the balance is paid down

Answer 3

I think you mean "hard inquiry" as opposed to hard call. The credit card company is the one who is going to do the credit inquiry. That usually comes with a 5-10 point hit.

Since you intend to use up the limit or nearly all of it this is going to increase your debt to income ratio....for that you're looking at about the same amount for every month that your balance is greater than 50% usage.

You can bounce back fairly easily by paying down or ideally paying off the balance ASAP...about 3-4 months later you should have earned your points back.