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guardsman54672
Posts: 20
Registered: ‎12-19-2012
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Just a suggestionRe: Credit Card Help!!! Advice Please!!!!

Just a suggestion!  Wait for about four to six months after you have obtained the mortage before applying for any card.  This will allow equity, no matter how small to build, and kinda tells your creditors (prospective) that you are applying for credit as a backup plan and not out of necessity!

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
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Re: Just a suggestionRe: Credit Card Help!!! Advice Please!!!!


guardsman54672 wrote:

Just a suggestion!  Wait for about four to six months after you have obtained the mortage before applying for any card.  This will allow equity, no matter how small to build, and kinda tells your creditors (prospective) that you are applying for credit as a backup plan and not out of necessity!


Certainly not a bad idea, but I don't think it's really necessary.  I apped for a couple 0% intro APR cards right after closing to put some house expenses on.  I don't think it's had any negative effect other than what is to be expected, i.e., lowering of AAoA, ding for an inquiry, etc.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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