Re: Applying for new credit after buying a house??
11-30-2011 12:23 PM
I closed on my house last night & apped for both Lowes & Kohls online this morning within minutes of each other... both were approved. These were calculated apps since almost everything else was paid off in preparation for getting a mortgage & my scores are the best they've ever been and I knew exactly which cards I wanted to add to my collection and why I wanted them (additional discounts at the register for both). My logic was that there isn't time for the inq to hit & cause a ding doing it that way, and I also did it before the mortgage could hit my CR.
again? why store cards?
Lowes gives an extra 5% discount at the register when you use your Lowes card and Kohls often has sales that have an extra15 to 30% off at the register when you use your Kohls card. So for me it's about the opportunity to save more on purchases. Much better than 1% cash back, IMO. So that's my reason.
Starting Score: TU 595 EQ 610 EX 601
Current Score: TU 683 EQ 661 EX 677
Goal Score: 710
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