Where do I start?

[DaveSignal]

The idea is to have a longer length of history among multiple accounts and a very low utilization percentage at the time you are applying for your mortgage.

[Duncanrr]

Nope you are on track.  The utilization does bring up an other matter.  Some credit card companies may be hesitant to give you new credit if your existing utilization is too high.  You might want to do some searching on here for more information on that. 

EDIT: Prior to applying for home mortgage your utilization should be between 1-9%.

[Anonymous]

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@Duncanrr wrote:

Nope you are on track.  The utilization does bring up an other matter.  Some credit card companies may be hesitant to give you new credit if your existing utilization is too high.  You might want to do some searching on here for more information on that. 

EDIT: Prior to applying for home mortgage your utilization should be between 1-9%.

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At what point in applying for a new CC would my UTL be an issue?  With my current UTL being almost 30%, would it be better to wait for UTL to drop, then apply to try to get a higher starting CL, or should I go ahead and apply, take what I get, and try to grow the CL from there.  My UTL should significantly drop and my be in that 1-9% window by the end of 2012, so waiting wouldn't be a huge problem, but since my main issue right now is LOC, I guess I feel rushed to go ahead and get all the credit I can, so that when it does come time for a major purchase, I will have no account that would be considered new.

[Duncanrr]

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@Anonymous wrote:

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@Duncanrr wrote:

Nope you are on track.  The utilization does bring up an other matter.  Some credit card companies may be hesitant to give you new credit if your existing utilization is too high.  You might want to do some searching on here for more information on that. 

EDIT: Prior to applying for home mortgage your utilization should be between 1-9%.

---

At what point in applying for a new CC would my UTL be an issue?  With my current UTL being almost 30%, would it be better to wait for UTL to drop, then apply to try to get a higher starting CL, or should I go ahead and apply, take what I get, and try to grow the CL from there.  My UTL should significantly drop and my be in that 1-9% window by the end of 2012, so waiting wouldn't be a huge problem, but since my main issue right now is LOC, I guess I feel rushed to go ahead and get all the credit I can, so that when it does come time for a major purchase, I will have no account that would be considered new.

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Utilization of 30% isnt too bad.  I was thinking it was higher.  You should be fine for most cards with that but I'm not really an expert on that (I keep mine below 9% and just dont worry about utilization.  I would probably app now as you want more time between your apps/new cards and when you get mortgage.

[jamie123]

Like another poster said, I would recommend you apply for the AMEX Zync. It is a charge card and MUST be paid in full every month. If you are approved for the Zync immediately apply for one of the co-branded cards. You might get the 7-10 day message and will need to call them.

If you get the Zync you will have your foot in the door with a really good prime lender. Your only problem now is your lack of history so the sooner you start history with a prime lender the better.

Good luck!

[Wolf3]

If your goal is to have the highest FICO score in a few years.

Then Do not apply for any more credit, you have enough with 3 cards.   Any new cards will lower your AAoA.

Also, when application time comes around, pay down your balances for best utilization to maximize your score,   Don't worry about it now.

On the other hand, if you want more CC, best do it now to minimize the damange to AAoA.

.   

[LS2982]

I would also vote for the Zync, but only if you can get your util down below 10%.