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How old was your youngest credit card when you started the mortgage process?

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Anonymous
Not applicable

Re: How old was your youngest credit card when you started the mortgage process?


@Anonymous wrote:

As long as you have some other debts with some age, a new credit card will usually not make or break your approval.


Thank you,  Dpeezy! My other two cards are 17 and 18 years old so hopefully that makes me good to go, at least where that's concerened. Actually,  the reason I'm in this situation is becasue my old mortgage (in Antioc California , actually)and car loans all fell off a few years back and I was left with those two old  tradelines and a paid judgement. I'm almost completely clean now,  but it made me worried about my qualifications. 

Message 11 of 15
Anonymous
Not applicable

Re: How old was your youngest credit card when you started the mortgage process?


@Anonymous wrote:

@Anonymous wrote:

As long as you have some other debts with some age, a new credit card will usually not make or break your approval.


Thank you,  Dpeezy! My other two cards are 17 and 18 years old so hopefully that makes me good to go, at least where that's concerened. Actually,  the reason I'm in this situation is becasue my old mortgage (in Antioc California , actually)and car loans all fell off a few years back and I was left with those two old  tradelines and a paid judgement. I'm almost completely clean now,  but it made me worried about my qualifications. 


You should have no problem with the age of your accounts. Underwriters are known to be strict, but you would not get automatically denied for a new credit card. And that's cool, I'm about 30 minutes from Antioch! Are you still local?

Message 12 of 15
Scupra
Super Contributor

Re: How old was your youngest credit card when you started the mortgage process?


@Anonymous wrote:

@Scupra wrote:
Remember not to zero all cards out lol

Ha! I know right? Who'd have thought after years of  routinely carrying a balance, that could be a problem.  I have a balance on my Discover because I took advantage of a 0 %t  BT and purchases offer so I don't feel the need to pay that off until i'm a few months from offers end. 


All cards reporting at 0 will bring your FICO down. Like stated above, leave something minimal on one Smiley Happy Good luck!

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Message 13 of 15
Anonymous
Not applicable

Re: How old was your youngest credit card when you started the mortgage process?

Nope, when they put BART in baypoint in 2000,  I sold my place and bought in San Jose. Can you say ouch?

 

I barely escaped California with the shirt on my back, but I've lived in Portland Oregon for 12 years now.  I haven't had a mortage since California so I'm a total newb again. 

Message 14 of 15
Anonymous
Not applicable

Re: How old was your youngest credit card when you started the mortgage process?


@Scupra wrote:

@Anonymous wrote:

@Scupra wrote:
Remember not to zero all cards out lol

Ha! I know right? Who'd have thought after years of  routinely carrying a balance, that could be a problem.  I have a balance on my Discover because I took advantage of a 0 %t  BT and purchases offer so I don't feel the need to pay that off until i'm a few months from offers end. 


All cards reporting at 0 will bring your FICO down. Like stated above, leave something minimal on one Smiley Happy Good luck!


No worries. I'll keep a balance on my Discover and or another 0 percent  interest card. 

Message 15 of 15
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