@Anonymous wrote:
Got approved for discover it card last night. Got the alert today and caused a 9 point dip. Im super excited. But i hope it doesnt take long to get the points back maybe when discover reports and the available credit shows up.
Are you still going to app for a mortgage this summer? The lender will ask about this card if you have apps within 4 to 6 months of mortgage application. Make sure you have a zero balance on it and a reason for getting the card just before applying for a mortgage. One card is explainable, several will be a red flag to the mortgage lender as it is 'credit seeking behaviour'. If you have balances on the card, it will become more of an issue as it adds to DTI and may or may not be considered a run up of credit, depending upon the number of new accounts and their balances.
Of course, none of this applies if you aren't going for that mortgage in the next few months.
