topic am i in trouble? in Mortgage Loans

am i in trouble?

Anonymous — Fri, 02 May 2008 02:56:28 GMT

I am applying for a mortgage, and my credit card account is now at $0. I usually keep a little balance to show activity, but this time, for some inexplicable reason I have a bunch of credits on the card, which took the balance down to 0.

I was wondering will the lack of a balance hurt my score, or what. This is the only credit card that I have. Any advice would be appreciated. I'm not sure if this belongs here or in the credit forum. I just don't want my chances of being approved to go down.

Re: am i in trouble?

DallasLoanGuy — Fri, 02 May 2008 03:07:57 GMT

depends on your fico

better question for the credit forum

Re: am i in trouble?

Anonymous — Fri, 02 May 2008 03:12:19 GMT

FICO's, 647, 648, 677.

Re: am i in trouble?

DallasLoanGuy — Fri, 02 May 2008 03:42:19 GMT

loan program?

Re: am i in trouble?

ShanetheMortgageMan — Fri, 02 May 2008 08:28:30 GMT

In my experience having credit cards with balances at $0 will help your score in the "right now" situation, however to bring your scores up over a period of time, having balances on them and then paying them off, and doing that process over & over again, will help your scores.

Re: am i in trouble?

Anonymous — Fri, 02 May 2008 13:52:06 GMT

It's a Pennsylvania state bond program.

Re: am i in trouble?

DallasLoanGuy — Fri, 02 May 2008 14:59:50 GMT

I doubt that they drop 100 points. That's crazy.