If I want a mortgage next month...

[jru577]

would it be wise to apply for a new CC now? I don't want to use it, just have the "room". I'm paying down two closed CC's (that went over limit), but have been on time with them for the last 6 months. My scores are TU 626, EX633, and EQ 617. I'm waiting on some disputes and GW letters. Would it be wise to just let those things take affect before applying for anything? (Notably, TU has improved from 580 to 610 and then to 626, but the other two haven't moved at all since I started this two weeks ago.)


I have only one other inquiry in the past 12 months. (A cap1 medical loan that has a perfect history). Also, I have lots of lates, but the past 6 months is much cleaner.

Thoughts? Any mortgage folks out there today?

Thanks!

[Anonymous]

I wouldn't apply for a new card just before a mortgage app.  True it's only one inquiry (assuming you get the first card you apply for) but it might make lenders nervous.  Just sit tight until you get the disputes done and see if the GWs work.  It could be totally worth it to wait a few months to save thousands.

ETA:  Uh oh, that was my post #666 ... if you are superstitious, don't follow my advice, especially with Friday the 13th around the corner ...

Message Edited by masdeocho on 07-11-2007 02:26 PM