I just bought a new bear strike from dicks sporting goods online. When i receved the bow and took it out of the box i noticed a very small nick in the lower cam on the edge where the string rides. Is this gonna hurt my bow? Should i contact bear archery about this?

It could wear out the serving sooner, I would contact them.

Dick's will refund your money, if you're not satisfied.
Unlike a Pro Shop who will make you wait on a new cam.

Take it back and get another one. You definitely don't want a chip potentially causing a blowup. Don't shoot it, don't do anything to it - just take it back.