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Regular Contributor
Posts: 160
Registered: ‎04-01-2013
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Mortgage finally hit credit report - score change

I closed on my condo about 5 weeks ago, and it finally hit my credit report. I was not expecting a huge change in score, and it wasn't very dramatic. It bumped me up 6 points to 726 from 720. Before I applied for the mortgage back in April, my score was 740 but multiple hard pulls on my credit by my mortgage lender spaced out because of the construction delays caused it to drop by around 40 points. I also took out 3 new credit cards right after I got the clear to close to get approved before my score was impacted too dramatically from the hard pulls on the mortgage. It all worked out quite well as I got the cards I was hoping to get with good limits. My only charge card / non-store credit card was a $1,200 limit CapOne card which sucked, but I had closed down all my other cards about 4 years ago to reign in spending, save and prepare for buying a home. My 3 new cards have a combined limit of $35k which I think will end up raising my score further once the pulls age of my report. I don't intend to run up balances on any of the cards but use the main rewards card for daily purchases to earn flights (SW card) and pay in full each month. I wanted to give you all a heads up of what my score did after the mortgage hit, but obviously everyone's experience will differ.

CLs: Chase SW $35k, Amex Everyday $32k, Discover $29k, Costco Citi $21k, Best Buy $13.5k, CU Denver MC $12.5k, Chase Freedom $10k, Nordstrom $10k, Express store card (1st credit card!) $3.2k

Starting score 12/2010: 510
Current score 12/2016: 835

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