When should I stop applying

[cjane1]

Hi all,

   I am planning to purchasing a home when my lease is up 6/2017. When should I stop applying for credit cards so it doesn't affect my chances of getting a home? I want to apply for Chase Slate so I can get my Experian Score 8 for free. I just got Chase Freedom Unlimited but the free credit score isn't a benefit with the card.

[Anonymous]

Personally I would not worry about getting your credit score for free, their are websites that give them for free for each bureau, I believe Quizzle uses experian.(yes I know this is not as accurate)  I would look at your overall credit profile my loan officer said to me they want to see 2+ years aged on your credit cards, with no negatives and low dti.

[Anonymous]

Im wondering the same thing. We were hoping to apply in a few months but have not been able to save as much as we would like since we were hit with unexpected expeses. So now we're thinking april of next year. I'm thinking I should just sit back and allow my new accounts to age. But at the same time wanting to apply for a card with citi..hmmm..

But I would think 6 months prior to app would be good... goodluck to you!

[Anonymous]

I'm currently trying to purchase my first home.  My middle score is 669 and i am ok for a FHA loan, however heavy credit inquiry seems to be a problem, I don't think I will get denied but I may be offered a higher APR.  My loan officer advised me that I do not want excessive inquiries within 2 years of applying.  My suggestion is to stop applying for new credit, pay down current debt, if in fact any exits, and save as much as you can, and of course monitor your credit score.  2017 is not far away.

[cjane1]

Thanks for your help. I have a couple of more negatives that I am going to pay and do GW's, then start saving up for a house.

[Sbrooks1]

Rebuilding -- how many inq are we talking about, I'm afraid my mortgage process may derail , plan to app 2/17 and have 20 in giver past 2 yrs, will have nine for 6 months prior . The struggle is real people😩😩

[Anonymous]

I met with a loan officer about two months ago. He pulled our credit from a service called Credit Plus. On the report he showed me, it said inquiries from last 120 days. He told me that it's all they look at. I'm guessing it can be different everywhere.

[Anonymous]

OP, Discover now offers your EX score for free if you are interested. You don't have any kind of relationship with them either.

https://creditscorecard.com/

[Anonymous]

That was intended to say "you don't have to have...".

[onstar]

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@Anonymous wrote:
I met with a loan officer about two months ago. He pulled our credit from a service called Credit Plus. On the report he showed me, it said inquiries from last 120 days. He told me that it's all they look at. I'm guessing it can be different everywhere.

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The credit reports that many lenders pull will only LIST the inquiries from the last 4 months, but they will still indicate the number of new inquiries (hard inquiries in the last 12 months) in the summary section. And the hard inquiries will have an effect on the FICO score.

Borrowers are recommended to have little/no hard inquiries for 1 year prior to mortgage.