Credit Cards Center Credit cards from our partners
Reply
Contributor
Posts: 175
Registered: ‎06-28-2013
0

Should I apply or wait?

Okay so here's the deal, I applied for my VA loan this morning and talked with the lender about my CR, DTI, etc. I mentioned to him about wanted to do a balance transfer and another card and app for the CSP after the mortgage closes. His response was that I could do it now if I wanted to based on my credit file it wouldn't change the terms of my loan since the interest rate isn't dependent on my FICO score and as long as I didn't have a large increased balance on any of my revolving accounts. He said it would be better that way to let the inquries age together.

 

What do you guys think? Is this the smart way to do it or do I need to ask for another loan officer? Lol


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Should I apply or wait?

Don't take the risk. Just app immediately AFTER your mortgage closes. I
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Contributor
Posts: 175
Registered: ‎06-28-2013
0

Re: Should I apply or wait?


enharu wrote:
Don't take the risk. Just app immediately AFTER your mortgage closes. I

That's what thought, it seemed like his advice was completely the opposite of what everyone else says.


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Should I apply or wait?

It may be true for that lender you are dealing with, but I wouldn't risk it at all if I were you. Always good to play it safe than to risk a house Smiley Tongue
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Contributor
Posts: 175
Registered: ‎06-28-2013
0

Re: Should I apply or wait?


enharu wrote:
It may be true for that lender you are dealing with, but I wouldn't risk it at all if I were you. Always good to play it safe than to risk a house Smiley Tongue

It doesn't surprise me with NFCU, they don't seem to care about much.

 

I figured I'd take my question to the guru's, you guys (and girls) always point me in the right direction.


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.