topic Re: Applying for new cards? in Credit Card Applications

Applying for new cards?

Anonymous — Tue, 24 Apr 2018 18:21:54 GMT

I have the Chase Marriott Rewards card which I use as my regular card. I would like to add some more cards, but I don't know what I should add. Any advice would be appreciated. I was prequalified for the Citi Double Rewards and the AmEx Cash Back. I would prefer the Chase Sapphire, but I wasn't prequalified for any Chase products. Also, if we're looking into buying a house at the end of the year, should I stay away from opening any new cards for a while? Sorry for any rambling!

Re: Applying for new cards?

FinStar — Tue, 24 Apr 2018 18:47:18 GMT

If you're entertaining a mortgage in less than 8 months, I'd suggest waiting until after closing on your house before applying or obtaining any new CCs.

Re: Applying for new cards?

Anonymous — Tue, 24 Apr 2018 19:02:07 GMT

Thanks! Should I ask Chase for a CLI? I've only had the card for a couple of months, but I've heard such horror stories about Chase and how fickle they are, I don't know if it'll be worth it.

Re: Applying for new cards?

FinStar — Tue, 24 Apr 2018 19:14:48 GMT

Anytime you request a CLI with Chase, it will be a HP - in some cases a double HP.
And since your card may be fairly new in their eyes (<6 months), then it's likely that may yield a fruitless effort.

That being said, I'd refrain from any HP activities prior to the mortgage process IMO.

Re: Applying for new cards?

me12345 — Tue, 24 Apr 2018 21:19:51 GMT

You dont say much about your current situation...But, if you only have one card now, having 1 or 2 more would probably help your credit score for buying a house later.

Applying for more credit now will NOT keep you from buying a house later.

Qualifying for a Mortgage is all about the FICO score and the Debt to Income Ratio (DTI) not inquires or utilization.

Thanks,