should I take AMEX everyday offer?

[pagz311]

Hi All,

I am planning to retire around 1/15/14 but could go as early as 9/30/14 if a buyout offer comes.  I will be relocating and purchasing a home.  I have no dependents and income after retirement will be $53,000 plus savings $110,000.

My current ccs:

AMEX 0/2000, Cap1 0/1250, Chase 3675/8000, Discover 3650/4500, Citi 750/9000, WF 0/8000, CU 8000/10000

Auto loan $380 per month

I have good income now and plan to have all ccs but CU paid off before I retire.  from myfico   Experian 707 and Transunion 698.  I have some lates on my history from 2008.

So I have this new offer at 0% for 15 months.  Will it hurt me buying a home if I take it?  I may be looking to purchase as early as this Fall.  My plan would be to close one of the other higher interest cards.  I haven't closed any yet because I don't want to hit my utilization but I keep those at 0.

Thanks,

[DrZoidberg]

It shouldn't. Unless you're in the process of closing it won't hurt. My wife is doing the mortgage and she opened a CSP about a month ago and we are in escrow now and it didn't hurt. She has an 800+ score and no derogs and perfect history so.

[StartingOver10]

Don't close any of your credit card accounts prior to closing on the new house purchase.

Accepting the AMEX offer shouldn't hurt you at all. What the lender is watching out for are applicants that have a sudden increase in credit applications - searching for a lot of credit is a issue, not just one credit card.

Opening up one account isn't an issue unless you are buying a vehicle and it is possible that the loan amount could affect how much home you qualify for - not a credit card with zero balance. You are fine