Valued Contributor
Posts: 1,607
Registered: ‎09-15-2012
Re: The right number of credit cards

brother7 wrote:

Pghmg wrote:

My goal is to qualify for my first mortgage by the summer of 2013. 

With a current score of 560, you've got quite a ways to go to get a good rate on a mortgage. Instead of focusing on optimal number of cards, focus on clearing the baddies off your CRs.

I hate to be blunt, but rate isn't the biggest worry with a 560 score - approval is.  I have never seen anyone get approved for a mortgage with a 560 score. 

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Citi Forward (12/12) $14,600, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Thank You Premier (6/15) $6,800

Last App: June 27, 2015