I definitely wouldn't app until after you close on the mortgage. I recently closed on a mortgage early Feb and my mid qualifying score was 703 EQ. I applied and was approved for a Chase Freedom right before I applied for mortgage preapproval. I was forbidden from using the card until after closing. The lender even did a 3-way call with Chase and me on the line to verify the account had a zero balance. Amazingly, the new account/inquiry did not ding my score.
Your scores are mid to low 600's which means you are borderline approved. Many lenders do another credit pull right before closing so be sure to keep the UTIL on your cards at or below the UTIL levels that you were preapproved with. I strategically did this during my mortgage app...I watched my charges such that my UTIL was 2% lower than the preapproval levels in preparation for the final credit check. My score did not change not one point throughout the entire mortgage process. I used Score Watch to monitor my accounts closely. Not doing so can drop your score and it could be enough to not pass the final credit pull before closing and if you don't pass, you and your husband will be denied. If your score was low 700's, you might be okay applying for credit but even then, you have to play the game just right. For instance, your original post states that you were barely preapproved for the mortgage. This is your first clue to not app for anything until you close. Adding a CC now may raise your DTI out of approval range. You have 2 more approvals to get through. After preapproval you submit things like paystubs, W2's, bank statements and all of that builds a file that goes in front of a board of underwriters. The possible outcomes are suspended, conditionally approved, or denied. If conditionally approved, you will need to satisfy all conditions for approval. Once that is done, your file goes back to the underwriter for final approval and this is when another credit report is pulled. If you receive final approval, you get cleared to close. So you have quite a bit yet to go through before you get the keys. Many are denied right before closing due to DTI exceeding the max because a new car loan and/or credit card was obtained after preapproval or the applicant bounced a check, etc. So I would chill out until after closing or you may regret it. Don't breathe yet...preapproval is just the beginning.
Your scores are mid to low 600's which means you are borderline approved. Many lenders do another credit pull right before closing so be sure to keep the UTIL on your cards at or below the UTIL levels that you were preapproved with. I strategically did this during my mortgage app...I watched my charges such that my UTIL was 2% lower than the preapproval levels in preparation for the final credit check. My score did not change not one point throughout the entire mortgage process. I used Score Watch to monitor my accounts closely. Not doing so can drop your score and it could be enough to not pass the final credit pull before closing and if you don't pass, you and your husband will be denied. If your score was low 700's, you might be okay applying for credit but even then, you have to play the game just right. For instance, your original post states that you were barely preapproved for the mortgage. This is your first clue to not app for anything until you close. Adding a CC now may raise your DTI out of approval range. You have 2 more approvals to get through. After preapproval you submit things like paystubs, W2's, bank statements and all of that builds a file that goes in front of a board of underwriters. The possible outcomes are suspended, conditionally approved, or denied. If conditionally approved, you will need to satisfy all conditions for approval. Once that is done, your file goes back to the underwriter for final approval and this is when another credit report is pulled. If you receive final approval, you get cleared to close. So you have quite a bit yet to go through before you get the keys. Many are denied right before closing due to DTI exceeding the max because a new car loan and/or credit card was obtained after preapproval or the applicant bounced a check, etc. So I would chill out until after closing or you may regret it. Don't breathe yet...preapproval is just the beginning.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Hi and welcome to myfico forum. My advice would be Don't apply until after the mortgage. Even though you passed the preapproval; your mortgage is not secure until you actually close and have keys.
They can deny you at any point... up to and including the day of closing..
Best ways to avoid getting declined:
1. Do not apply for any new credit during the pending loan application... No credit cards, no furniture, no appliance. Wait til you close to get these items
2. Do not make large cash deposits into your bank account... All deposits must be sourced
3. Don't overstate your income... Tips are averaged over two years, Overtime is averaged, or won't be counted unless its gauranteed, bonuses are averaged over two years
4. Don't change jobs to a different industry... loan officers like to see you in the same job or the same industry for over two years
5. Don't go out and charge up all your credit cards.... This can effect your utilization %, which is a big factor in your FICO scores. maxed out card will make your score sink and you will be denied before closing, if they re-pull
6. Don't have defaulted student loans that you haven't told your loan officer about: This will cause your CAIVRs not to clear. Take care of getting these loans either transferred or brought current through rehab before you apply
7. Don't have an unpaid tax lein, same reason as above
8. Don't have unpaid judgment or collections that you haven't disclosed to the loan officer. If you owe money to someone, this can affect your ability to pay your mortgage if the person you owe pursues a garnishment or bank account levy
9. Don't try to buy more house than you can afford. Use calculators to figure out what you maximum mortgage amount is based on the DTI ratios for the program you'll be using.
10. Opt out of pre-screened notices: Many time, a shady debt collector will file collections against if they know you are looking for a house. Sometimes these debts may not even be valid, if you are opted out, then you may avoid some of these issues.
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
@webhopper wrote:
Hi and welcome to myfico forum. My advice would be Don't apply until after the mortgage. Even though you passed the preapproval; your mortgage is not secure until you actually close and have keys.They can deny you at any point... up to and including the day of closing..
Best ways to avoid getting declined:
1. Do not apply for any new credit during the pending loan application... No credit cards, no furniture, no appliance. Wait til you close to get these items
2. Do not make large cash deposits into your bank account... All deposits must be sourced
3. Don't overstate your income... Tips are averaged over two years, Overtime is averaged, or won't be counted unless its gauranteed, bonuses are averaged over two years
4. Don't change jobs to a different industry... loan officers like to see you in the same job or the same industry for over two years
5. Don't go out and charge up all your credit cards.... This can effect your utilization %, which is a big factor in your FICO scores. maxed out card will make your score sink and you will be denied before closing, if they re-pull
6. Don't have defaulted student loans that you haven't told your loan officer about: This will cause your CAIVRs not to clear. Take care of getting these loans either transferred or brought current through rehab before you apply
7. Don't have a tax lein, same reason as above
8. Don't have unpaid judgment or collections that you haven't disclosed to the loan officer. If you owe money to someone, this can affect your ability to pay your mortgage if the person you owe pursues a garnishment or bank account levy
9. Don't try to buy more house than you can afford. Use calculators to figure out what you maximum mortgage amount is based on the DTI ratios for the program you'll be using.
10. Opt out of pre-screened notices: Many time, a shady debt collector will file collections against if they know you are looking for a house. Sometimes these debts may not even be valid, if you are opted out, then you may avoid some of these issues.
What if its been paid for a good while?
If the tax lien is paid then CAIVRs should clear. I will revise my earlier statement
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Do not do anything until your close on the house, that includes both apping for cards and paying the derogs. Impacts on scores can be unpredictable in both cases. If the lender wants the derogs paid do it at closing. You said you barely qualified so you don't want to do anything that may impact your score. Just keep your cards paid off except one with a small <9% balance. Good luck.
@webhopper wrote:Hi and welcome to myfico forum. My advice would be Don't apply until after the mortgage. Even though you passed the preapproval; your mortgage is not secure until you actually close and have keys.
They can deny you at any point... up to and including the day of closing..
Best ways to avoid getting declined:
1. Do not apply for any new credit during the pending loan application... No credit cards, no furniture, no appliance. Wait til you close to get these items
2. Do not make large cash deposits into your bank account... All deposits must be sourced
3. Don't overstate your income... Tips are averaged over two years, Overtime is averaged, or won't be counted unless its gauranteed, bonuses are averaged over two years
4. Don't change jobs to a different industry... loan officers like to see you in the same job or the same industry for over two years
5. Don't go out and charge up all your credit cards.... This can effect your utilization %, which is a big factor in your FICO scores. maxed out card will make your score sink and you will be denied before closing, if they re-pull
6. Don't have defaulted student loans that you haven't told your loan officer about: This will cause your CAIVRs not to clear. Take care of getting these loans either transferred or brought current through rehab before you apply
7. Don't have an unpaid tax lein, same reason as above
8. Don't have unpaid judgment or collections that you haven't disclosed to the loan officer. If you owe money to someone, this can affect your ability to pay your mortgage if the person you owe pursues a garnishment or bank account levy
9. Don't try to buy more house than you can afford. Use calculators to figure out what you maximum mortgage amount is based on the DTI ratios for the program you'll be using.
10. Opt out of pre-screened notices: Many time, a shady debt collector will file collections against if they know you are looking for a house. Sometimes these debts may not even be valid, if you are opted out, then you may avoid some of these issues.
this deserves to a sticky 
As other posters have stated I agree with hirting the garden and save ypur app for after house closing. Good luck!
