Valued Contributor
Posts: 1,072
Registered: ‎04-24-2008
Re: Applying for new credit after buying a house??

Capn12 wrote:

I kinda agree with dalebb...

 

I thought, for a while, I was going to do the HD/Lowes route when we close on a house (early 2012), but the more I think of it, the less likely that action is.

 

I opened a Citi card with $7,400 CL, and 18 months of 0% APR. That, IMO, is a WAY better option in the long run. But hey, more than one way to do such.


 

I agree, a hard iquiry is worth more than it's weight in gold. If you are going to use a hard iquiry, make sure it's worth it...in terms of apping for a prime credit card and getting a nice CL. That way, you can use the card any which way you want and 0% interest.

 

The 1st or 2nd or 3rd app will get a nice CL..once you starting hitting the submit button too much, you slaughter your AAoA - which can take over a yr to rebuild or longer, and you run the risk of getting a very low CL to start out with cause banks going to see that you are at risk due to the fact you are obtaining more credit and how they know that is by seeing you have a hard iquiry.