Applying for credit card while in Mortgage process..

[Mike_B03]

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@MovingForward_2012 wrote:


I'm not going to sugar cost the situation. The worst thing that can happen is a denial due to DTI being too high after the new CC debt is added.

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Well denial could also happen if the credit score dropped below what ever the lender requires. In the OP's signature, it shows a TU score of 722 and an EX of 666, but we don't know if these are true FICO scores or worthless FAKO scores and if they reflect the two new credit cards or not.

[mrfarias]

+722 from transunion.com 04/16/13
+666 credit sesame
the inqs are there just the accounts haven't been updated yet.

[Mike_B03]

Those are both FAKOs. You need to pull them from here (MyFico.com) to get your real scores. It'll cost you $40 for both but worth it I think for the peace of mind.

Have you used the cards yet? Is there a balance on them?

[mrfarias]

I haven't used it

[Mike_B03]

That's good, don't use it and you should be fine as long as your credit scores are above what the lender requires. Are you doing FHA or Conventional? 

Pull your scores from MyFico.com and report back.

[Erinkkelly]

Just don't use them at all! Be prepared if it comes up to provide proof these cards have a zero balance.
I'm a mortgage underwriter and your not he only person in the world who does this...so don't worry! Your LO should have informed you not to do this anyway.

[MovingForward_2012]

Yes. You are correct Mike. A drop in score due to the new accounts & inquiries could indeed also cause a denial if the score no longer qualifies. It spaced my mind to include that. Thanks.

OP as others suggested, pull at least your EQ fico from this site. You can get it for free if you sign up for the Score Watch free trial. Those fakos have gotten me and others in trouble because the score can be so extremely different from your fico or true score, high or low. Compare it to your preapproval score and make sure it is still above the lender requirement. Good Luck.