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New Member
cjoyglam
Posts: 4
Registered: ‎03-07-2013

Credit Cards post home closing

My husband and I are buying a home and would like to apply for a credit card after we close for furniture and a refrigerator. Does anyone know what the time frame is you need to wait before your mortgage would show up on your credit? Also, what is the typical credit limit cards give you after you have bought a home?

Moderator
09Lexie
Posts: 24,489
Registered: ‎09-13-2012

Re: Credit Cards post home closing

Welcome to the forum and congratulations on your impending closing!

Your CS, profile and income will determine your approval and CL. As far as the mortgage appearing on your cr, that would depend on the lender. Some can show as early as 30 days.
Established Member
SCoach
Posts: 36
Registered: ‎04-08-2013

Re: Credit Cards post home closing

I submitted my American Express Pre-Approval app about a week after my closing.  Got the card, and started buying things about 30-45 days after closing.  Furnished my entire house this way.  I brought essentially nothing with me from my apartment.  So within 12 months I bought 3 bedrooms worth of furniture, kitchen chairs, living room couch and chairs, big screen TV, full dining room, etc.  

I don't really know how long my mortgage took to show up as I didn't pull my credit report for at least half a year after the closing.  I tend to pull in Jan/Feb, and my closing wsa in August.

AmEx Platinum | AmEx Gold | AmEx Bluebird | CSP | Chase Freedom
New Member
cjoyglam
Posts: 4
Registered: ‎03-07-2013

Re: Credit Cards post home closing

If I may ask, were you initial credit limits high?
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011

Re: Credit Cards post home closing

Congrats on the home.  Mine took around three months to start reporting last year, lender was Wells Fargo.  After closing I got a Lowes card, Discover card, and BCP.  Was denied for a Citi DP.

Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012

Re: Credit Cards post home closing

I closed Feb 6th and my mortgage started reporting mid March, so about 45 days.

I also threw a lot of old furniture out. I used my existing Capital One Cash Rewards card and 50% cash to buy casual and formal dining sets, a leather sofa and recliner, 4 piece bedroom set for my son and a couple of bar stools for the kitchen island. We purchased all of this the night after closing as the loan was funded when I was still at the title company.

Two weeks later, I applied for the Best Buy store card with no AF and got approved for $2500. I bought 1 55" and 1 39" TV plus mounting equipment and a 5.1 surround system (house was prewired) and install. Grand total was $3000 and I charged $2200 and paid the remaining amount with cash and on my first billing statement, I sent in $700 so my UTIL on that card right now is 69%. Overall UTIL is 31%.

Just a couple of weeks ago, I apped for CU card (denied due to being blacklisted), Discover It (approved $1000), Barclays Rewards (approved $2500).

Before becoming a Homeowner, I had Chase Freedom ($1000), and OB ($1100) as well.

Now I'm in the garden until July 2014. Writing my second mortgage payment tonight. All my cards have very specific purposes when it comes to managing all the new expenses that come with owning a home such as HOA and the alarm system. My bank account is free of debit card clutter and only the big charges go through for lease payments, mortgage, and CC payments.

Congrats on your new home! :smileyhappy:
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Member
SCoach
Posts: 36
Registered: ‎04-08-2013

Re: Credit Cards post home closing


cjoyglam wrote:
If I may ask, were you initial credit limits high?

The AmEx charge cards don't have preset limits.  And since you pay in full every month, you don't really run into utilization issues.  I think the high balance showing on the card is $3500 or so, so that's as much as I've ever let report.  

AmEx Platinum | AmEx Gold | AmEx Bluebird | CSP | Chase Freedom
New Member
cjoyglam
Posts: 4
Registered: ‎03-07-2013

Re: Credit Cards post home closing

Thank you everyone for the informative responses!!!

 

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Credit Cards post home closing

Congrats!

 

The moment I got our house keys at closing and with the ink barely dry I left the garden after a 18-month hiatus and app'd for and received a NFCU CC, Navcheck, and Home Depot.

Frequent Contributor
tattooedhusker
Posts: 479
Registered: ‎10-25-2012

Re: Credit Cards post home closing

I closed on my home on March 7th. It has yet to report with any of the CRA's but YMMV.

NFCU CashRewards $13.5k | AMEX BCE $9.5k | Lowes $17k | Sportsmanss guide $5.5k | Chase Freedom $1k | Discover IT $1.4k |
Walmart $8k | Gordman's $1350 |

Scores: EQ: 676 EX: 714 TU: 720

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