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Basically, I WANT to stick to gardening. I feel I have all the cards I need for now, and really want a mortgage at the best possible rate in around April 2014. About a week ago, I went ahead and apped for the Paypal MC and Wally DC. Both approved at 3k/1.6k. Today my wally card arrived along with a letter from GE/Paypal saying that I was was approved, but not at the best rate (some "by law" verbage) and my card will arrive soon. Both letters had TU FICOs that were 751....and both also said the FICOs were lowered because I don't have any "installment loan" info on my reports.
Now the question. Being that I'm satisfied with cards, should I go ahead and app for navcheck (I just joined NFCU), which I'm guessing would report as an installment? I've already told NFCU that I'm holding off on new TLs for now when offered a VISA and I'm happy as hell not having a car payment. I'm 9 months out from apping for my mortgage...but really want to keep inqs at a minimum.
@100down0monthly wrote:Basically, I WANT to stick to gardening. I feel I have all the cards I need for now, and really want a mortgage at the best possible rate in around April 2014. About a week ago, I went ahead and apped for the Paypal MC and Wally DC. Both approved at 3k/1.6k. Today my wally card arrived along with a letter from GE/Paypal saying that I was was approved, but not at the best rate (some "by law" verbage) and my card will arrive soon. Both letters had TU FICOs that were 751....and both also said the FICOs were lowered because I don't have any "installment loan" info on my reports.
Now the question. Being that I'm satisfied with cards, should I go ahead and app for navcheck (I just joined NFCU), which I'm guessing would report as an installment? I've already told NFCU that I'm holding off on new TLs for now when offered a VISA and I'm happy as hell not having a car payment. I'm 9 months out from apping for my mortgage...but really want to keep inqs at a minimum.
Sounds like a chance of approval to me Lol
Stick with getting mortgage
Damn garden gnome guardians with TEETH!. Seriously though, would it help my scores enough? I really don't "need" an installment line...
9 months out? I would definitely stay focused on the mortgage rather than an installment loan you don't need.
@100down0monthly wrote:Damn garden gnome guardians with TEETH!. Seriously though, would it help my scores enough? I really don't "need" an installment line...
If you dont need it, don't apply for it.
My DTI is ridiculously low. I mean heck, I paid cash for a car instead of financing one. My UTI is less than 1%. I just hope for the best rate, as a house isn't exactly a small purchase for me.
@100down0monthly wrote:Damn garden gnome guardians with TEETH!. Seriously though, would it help my scores enough? I really don't "need" an installment line...
Lol
Depending on the size of your file it can go either way help or hurt IMHO just get ready for mortgage