NFCU Card, should I applied?

[FA21]

Im new here.  I recently started to rebuild my credit.  I had 3 low limit cards that I stopped paying on 2012.  Last month I tried to get a car loan at my CU and the 9.9% IR scared me so I applied to a few cards to start rebuild my credit.  I now have Capital One Platinum ($300 CL), Bank One ($400.00 CL) and a Discover Secure ($200.00).  I was lucky enough to apply for and get accepted for the three cards.  My question is:  Should I apply for a NFCU card?  Or should I wait a few months before I apply?  My CK scores are 638 Ex and 621 Trasnsunion (I dont have Ex Score). 

I have 3 collection from Midland in my records, they are being disputed as today.  I really need to improve my score to apply for a mortgage in about 6 months.  Thanks!

[Anonymous]

I'd say hold off.  Nurse the cards you have with proper usage and payments.  If you hope to apply for a mortgage in 6 months you're going to need some work on those scores.  If you can get a mortgage approval for scores in that range, it may not be an amount you're hoping for.  Keep your DTI (debt to income) as low as possible, so don't charge too much and don't rack up too many inquiries prior to apping for the home loan.  My $.02.

Almost forgot, do you have any BK, short sale/foreclosure, or anything like that on your reports?  If so you'll have to wait it out for awhile longer before applying for a home loan.

[Anonymous]

If your Midland accounts are over two years, the new policy might help you.  It's been talked about a bit on here: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Midland-Credit-Management-Changes-PFD-process...

[FA21]

Yes, I have a BK discharged on 04/2009.

[FA21]

When you say 2 years, are you referring to the dates from the original creditor or the date Midland showed on my Credit Report?

[Anonymous]

Most mortgage lenders are going to have serious issues with baddies after a bankruptcy. 

[Anonymous]

2 years from the Date of Delinquency per the Midland website.  https://www.midlandcreditonline.com/help-center/credit-reporting/ 

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@FA21 wrote:

When you say 2 years, are you referring to the dates from the original creditor or the date Midland showed on my Credit Report?

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[Anonymous]

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@FA21 wrote:

 Last month I tried to get a car loan at my CU and the 9.9% IR scared me so

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@I remember when a home loan @Anonymous% was considered good......How the times change...I also remember when a 19.9% CC was considered very high....