HSBC closed my card after reducing my limit from $2100 to $305, I didnt care for the card and never used it after the CL was reduced. My question is now I am left with NFCU visa card, Capone master card and Target store card. Should I apply for another card to maximize my utilization? my fear is that I plan to apply for a mortgage loan in 2 months. my total credit limit is $11,050 with zero balance. my highest limit is $10,000 from NFCU. thank you for your candid response.
Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
Absolutely not! No inqs, no new credit. General rule is no apps 6 months out from your mortgage. Just wait till your mortgage is funded then add a replacement card.
Starting Score: 504
Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
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While that HSBC card is closed, it will continue to report for the next 10 years or so. You have zero balances on your 3 remaining cards, so your UTIL is just fine. IMO, you don't need a new credit card right now. Do not app for anything right now - you are too close to beginning the process for a mortgage. Plant yourself in the garden, at least until after you close on your home purchase and your loan is funded.
Good luck!
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