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To the original poster, I am really impressed you have so much credit available for a person with a FICO score in the mid to high 600 range.
However, I can't help but feel that having so many different credit cards with such high limits, actually makes you look less favorable to a mortgage lender.
I know you use less than 1% of your total available credit, but the potential exist for you to spend more in one month than what you might make in an entire year.
If I was a lender, that would terrify me.
Also, I hope most of your cards don't have any annual fees.
OP:
did you used the number listed in the backdoor thread?
I'm looking for those GE numbers since I have a Banana Rep card and wanted to get a CLI by calling and not online
sorry to trouble so much but I cant find those numbers in the backdoor thread....
can you link me or post them
thanks
@acleynes wrote:To the original poster, I am really impressed you have so much credit available for a person with a FICO score in the mid to high 600 range.
However, I can't help but feel that having so many different credit cards with such high limits, actually makes you look less favorable to a mortgage lender.
I know you use less than 1% of your total available credit, but the potential exist for you to spend more in one month than what you might make in an entire year.
If I was a lender, that would terrify me.
Also, I hope most of your cards don't have any annual fees.
@Anonymous - He is right though... I know you claim HHI on your apps but you stated in another thread a while back that you make around 70k if i remember accurately. You could literally charge twice as much as you make in a year on credit cards...
I'm not going to be negative on what you're doing at all but I feel like you will have issues when it comes time for a mortgage... until them swing away!!! lol
I can't wait to see the look on the finance guys face when he sees your accounts the first time you get a car loan, he's going to be like what? this guy is really in his 20s? lol