So I'm prequalified on a loan, and currently my agent is trying to get more for closing out of a fairly tight-fisted seller, though we're not sure how it's going to go.
My middle score is 711, not great, not terrible. I have 3 credit cards, 2 with 2.5k limits and one with 18.5k. When my score got pulled I only had one $21 statement on one card, which is pretty common for me. Needless to say, my utilization is nonexistant and I don't have any other debts or installment loans, etc.
My question is, would I be better, in the coming weeks, putting some of my daily expenses (gas, groceries) on my cards and keep my cash in hand, in case things become a little tight in closing and with downpayment and escrow? Obviously I like the sound of even an extra $1k in cash in hand, even if that means it's new debt on my biggest card, because I could pay it off later when everything is settled. I don't really use my credit cards as credit.
Or, on the other hand, will something like that be enough to raise brows at the time for underwriting?
I intend to ask my lender the same question, but just wanted to see what everyone here thought. I can always pay off my very low interest credit card eventually later on, but I can't pull cash out of thin air, so I'm not sure the best way to proceed.
Thanks!
