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New Member
Posts: 7
Registered: ‎07-17-2007
0

Wanting mtg in next 6 mo. - get a cccu cc to boost score or no?

We're recovering from b/r just over 3 years ago.  Since then, no baddies, a HHBC with perfect history, low util, $800 limit.  almost 12 mo. of history on a small car loan ($2500 original, owe about $1600), to help build score.  it's been working - we're at:
 
experian 638
equifax 586
TU 631 (per creditxpert score report - gotta switch I guess to myfico for more accuracy)
 
annual income is $80-$100k.
 
We're wondering if we should apply for the cccu cc now, to help establish another open tradeline, and bump that score higher, or if we're just too close to the mortgage to do anything new right now?  We're hoping to buy within the next 6 months.
 
Oh, we might also have another tradeline being reported, as we bought a matress set on an in-house financing, and they're selling accounts to Am. General.  That one is a $1500 limit, established in April, and owe $500 on it. 
 
Thanks for any suggestions!  I'm new to this FICO game, but trying to learn as much as I can!
 
 
Regular Contributor
Posts: 126
Registered: ‎05-12-2007
0

Re: Wanting mtg in next 6 mo. - get a cccu cc to boost score or no?

If I were you and I had to choose, I would rather avoid the "hard inquiry" you'll be hit with to obtain another credit card, which may concern a lender that you have been trying to get more credit in the past six months.  Keep paying your bills on time get your credit card balance down to 1 to 2 % and start cultivating a relationship with your bank now (or even better, if possible, a credit union), to obtain a mortgage with the lowest possible rate.  Above all, don't give anyone your SS # until you are ready to pull the trigger!  Also, yes, please pay up and get your true FICO scores from myfico.com so you exactly where you stand (and exactly what information, as well as potential problems, your lender will be looking at).  Good luck!
Established Contributor
Posts: 905
Registered: ‎05-09-2007
0

Re: Wanting mtg in next 6 mo. - get a cccu cc to boost score or no?

CCCU has a home loan program as well... Very generous with members on other fronts, so I would go for it. Got my card in the mail. Great rate and $5K CL.
 
Thinking about putting my auto loan into their continuum as well. :smileyhappy:
 
Good Luck.
 
Rob
Established Contributor
Posts: 570
Registered: ‎05-02-2007
0

Re: Wanting mtg in next 6 mo. - get a cccu cc to boost score or no?

Fico-Focused if you don't mind, what were your scores???  I am strongly considering applying for the CCCS credit card, getting rid of AMEX & Cap 1 but I don't know if they'll allow the full CL I have with these two combined.
 
 
Established Contributor
Posts: 905
Registered: ‎05-09-2007
0

Re: Wanting mtg in next 6 mo. - get a cccu cc to boost score or no?

Wife and I app'd jointly... Mine EX612 hers EX648...
 
They called and emailed, and I faxed POI and Called... I requested $10k CL and they gave me $5k
 
Rob
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