Is this a big difference in GPA?

I'm considering dropping a course. Essentially, it'll bring my GPA down from a projected 3.98 to 3.93 based on what I'm thinking I'll get in the course. Will this significantly impact my chances? I'm trying to apply after 3 years to the following schools:

• Ottawa
• U of T
• Queen's
• McMaster

I know I'll still be around the average of accepted candidates, but I'm just wondering if the fact that I'm a third-year applicant might mean I should try to have a higher GPA than this.