06-21-2009 04:08 AM
Is it easier to get credit after you sign a mortgage? If you don't have any credit cards do you still have to start with a secured card or they more willing to give credit to you with a mortgage. Also do you have to wait until the mortgage shows on your credit report? I am just trying to establish some more credit, as I have none, to get my scores as high as possible.
06-21-2009 07:26 AM
06-21-2009 07:27 AM
It's been over 20 yrs since I had a new mortgage, but what I remember was how hard it was to get new credit after we got the mortgage. My husband at the time and I were in the habit of paying cash for everything and had had to use our landlord and utilities payment records to qualify for the mortgage. I believe it was 6 mos- 1year before we had any kind of credit. YMMV.
06-21-2009 08:59 AM
Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.