So prior to my mortgage app I paid off all my credit cards except for one which I left a 100 balance on I let everything report as zero balance and my score jumped 45 points. No I am just ready for this home loan to get closed so I can use this opportunity to go for CLI and maybe a couple new accounts so I can start buying new stuff for the house. Very frustrating since discover has a pop up when I log in saying your eligable for a credit line increase. I want to click the button so bad but I know the underwriter for my loan will go crazy if they happened to find out before the loan closes.
Yeah I would be pulling my hair because the Discover luv button showed up! Its tempting, but you dont want to risk it.
is it really that bad? I got a mortgage last year that closed in june and I remember i had a decent amount utlized on my credit cards and I had just recieved my chase slate in april. The broker asked me about my credit card I had just opened and I just told her that I did it to do a balance transfer but I hadnt been planning on buying this house and it came up so I went for it. I didnt use any of the credit line though because the stupid credit limit was a quarter of what I needed to transfer the balance. That was the only thing I heard about it and she never mentioned it again.
I see. Congrats on the houses guys. or gals
They just told me not to add any new accounts. Mine is a tricky situation as they are not allowing me to use my fiance's income due to her being a non purchasing party since we are not married and her score would have hurt my approval as she did not meet min qualifications. So any new accounts could throw my DTI off making me not qualify. I am told the underwriters look at every credit account as a what if he maxxed it out scenario. So no CLI or new apps till after the ink is on the contract then its open season. I have heard discover is very good with letting you know hp or sp but I am scared to chance it.