Closing on Tuesday, Did I use my CC too early?

[Anonymous]

Just looking for some info, we got an clear to close last Thursday and will be closing this Tuesday afternoon. Anyways my wife couldnt wait and charged 2K worth of furniture on one of our cards today. I dont think this will have any effect on us even though I know people said dont use your CC until you close. Did we screw ourselves here or are we okay? I figured this balance wont even report until the next statement which is more than a week after we close. Plus our DTI was well below the cutoff line at only 30% backend before this. Also im not even sure if they already repull the credit report again but the latest they'll do it is this tuesday when we close right?Just to make sure im not freaking out on my wife for nothing

[Repo-ed]

It's quite possible to bite you at closing.  I would be prepared.

[Anonymous]

Wow really? How would it even show up on the credit report so fast? Also would they still give me issues even though my dti would still be good.

[birjest]

I whole-heartly doubt it.  I don't use my debit card for no purchasing, thus, I use my credit cards as its replacements.  Now, if you open a new account while you are waiting to close, then yes, stand by for heavy rolls.  Otherwise, you going to close on a house.  There is no need for them to pull your credit on the day of your closing.  Ok from my experience, I closed on two new constructions home in the last 9 years and I am about to close on my 3rd new construction home on the 22nd of this month.  When I went to closing, it was to bring a check, sign paperwork for 5 hours, and to get a check back at the end. 

Again, I don't think you did any damage.  Just, DO NOT OPEN A CREDIT CARDS BETEEN NOW AND TUESDAY MORNING!!!

[vlaw1084]

I agree with the statement above, you should be fine, your statement will not come until after you close. Just advise the wife to calm down until you sign those docs and yo have your keys!

[webhopper]

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@vlaw1084 wrote:

I agree with the statement above, you should be fine, your statement will not come until after you close. Just advise the wife to calm down until you sign those docs and yo have your keys!

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+1

[Anonymous]

Thanks for the encouragement, I will keep you all updated.

[Anonymous]

Just found out they already repulled, but on a Sunday?

[rckstrscott]

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@Anonymous wrote:
Just found out they already repulled, but on a Sunday?

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The only way that CC usage could possibly be factored is if it reported. When do you usually get your statement? 

-scott

[birjest]

Not to be a sea lawyer, but the one reason why it was pulled was to see if you applied for any "NEW CREDIT cards". If you can recall, there was a form in your package that you sign off explaining if you had any inquires.  Again, I don't think it can sink your closing.