Question on CC Approval (BoA)

[nicemann]

Question.....Does having a mortage help you to get a CC? 

Here is my situation, my loan officer said I am good to go to apply for CCs to buy furniture etc.  My papers are already at the title company and there will not be any kind of repull on my CR.  I currently have a US Airways Visa with BoA ($14,000 CL).  I want to get another card with BoA.  I am going from paying $650 a month rent to paying $1250 for a mortage.  So I was not sure on how the bank will look at that.

I of course would prefer to get approved now and  have the card approved and mailed to my PO Box (already have the other one going there). 

Any suggestions?

[fused]

Yes, a mortgage reporting on CRs will help. Why not just ask for a CLI online or over the phone. It's unlikely BoA will do a hard inquiry. 

[haulingthescoreup]

Congrats on the new mortgage! My one worry is that in fact, there will be one more pull on the day that you sign the papers. Mortgage officers have been known to be wrong.

I'd keep doing the research and celebrate the paper-signing/ mortgage funding day by going home and doing your app'ing then. I'd sure hate to risk my monthly payments for the next 30 years by not waiting a week or two.


edit to add: It's true though that BofA does softs for its CLI's, so you should be OK. I'm just a bit paranoid when it comes down to crunch time.

Message Edited by haulingthescoreup on 05-06-2008 06:21 PM

[nicemann]

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fused wrote:

Yes, a mortgage reporting on CRs will help. Why not just ask for a CLI online or over the phone. It's unlikely BoA will do a hard inquiry. 

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I want to change over to the worldpoints but I was told since my current BoA Card (US Airways) has a AF that I would have to reapp for the WorldPoints.  I then thought why not just keep both then.  Was just wondering if it was better to do now or later.......or if it really will make that big of a difference.

Only reason I want US Airways was because I got approved for the 99/300 card so of course I jumped at it.  That was my first CC that I used to start rebuilding my credit.

Message Edited by nicemann on 05-06-2008 06:25 PM

[Anonymous]

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nicemann wrote:

Question.....Does having a mortage help you to get a CC? 

Here is my situation, my loan officer said I am good to go to apply for CCs to buy furniture etc.  My papers are already at the title company and there will not be any kind of repull on my CR.  I currently have a US Airways Visa with BoA ($14,000 CL).  I want to get another card with BoA.  I am going from paying $650 a month rent to paying $1250 for a mortage.  So I was not sure on how the bank will look at that.

I of course would prefer to get approved now and  have the card approved and mailed to my PO Box (already have the other one going there). 

Any suggestions?

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I'd kill for a $1250 mortgage OR a $650 rent. What city do you live in?

Viva Las Vegas

[Anonymous]

I live in Oklahoma, got a $700 mortgage for a nice 3 bedroom 1800 sq ft house =)

[nicemann]

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beenthere wrote:

I'd kill for a $1250 mortgage OR a $650 rent. What city do you live in?

Viva Las Vegas

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Phoenix

[Anonymous]

10 years ago I bought a brand new home in Georgia for 58,000.

I will never be able to afford a house in Vegas but apparently neither can anybody else. LOL

I thought Phoenix was almost as bad as Vegas. I would not have thought a 1250 mortgage would be possible in Phoenix.

[Anonymous]

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@Anonymous wrote:

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@nicemann wrote:

Question.....Does having a mortage help you to get a CC?

Here is my situation, my loan officer said I am good to go to apply for CCs to buy furniture etc. My papers are already at the title company and there will not be any kind of repull on my CR. I currently have a US Airways Visa with BoA ($14,000 CL). I want to get another card with BoA. I am going from paying $650 a month rent to paying $1250 for a mortage. So I was not sure on how the bank will look at that.

I of course would prefer to get approved now and have the card approved and mailed to my PO Box (already have the other one going there).

Any suggestions?

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I'd kill for a $1250 mortgage OR a $650 rent. What city do you live in?

Viva Las Vegas

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Is housing in Vegas really that expensive? I have been pondering moving out there, and I was under the impression that housing was substantially cheaper.

[haulingthescoreup]

I had heard that there was a horrible real estate bubble, and that prices were insanely high, but that it had recently burst, and prices are much lower. But some neighborhoods are full of foreclosures, and it can be hard to find someone to write you a mortgage.