Over the past several years I worked really hard to rebuild my credit, and I'm pretty close to being there. I'm at a point right now that I want to refinance my house (which is in my wifes name - not mine) into my name for a lower interest rate and get rid of my PMI. Additionally, since I have been rebuilding my credit I only have had a couple of CC's with low limits (300 and 750), and have been a AU on two of my wifes cards (DL AMEX 3000 / Chase Marriott 3000). I would like to apply for a set of decent cards to increase my overall avaliable credit and generate some rewards / points. Currently I'm not sure which order to do this in... should I wait until the house loan funds beforw I apply for cards? Or does it mater since it's in the same month? Any thoughts? Below are some of my stats:
Credit scores: In signature
AAoA: 5 1/2 years
Credit Utlization: 4%
Number of HPs: 0
Income: 156k
Any thoughts on how I should approach this would be greatly appreciated, or if there is anyone that had a similar situion I would love to hear your experience.
Starting Score: EX 603 EQ 635 TU 677
@russ4690 wrote:Over the past several years I worked really hard to rebuild my credit, and I'm pretty close to being there. I'm at a point right now that I want to refinance my house (which is in my wifes name - not mine) into my name for a lower interest rate and get rid of my PMI. Additionally, since I have been rebuilding my credit I only have had a couple of CC's with low limits (300 and 750), and have been a AU on two of my wifes cards (DL AMEX 3000 / Chase Marriott 3000). I would like to apply for a set of decent cards to increase my overall avaliable credit and generate some rewards / points. Currently I'm not sure which order to do this in... should I wait until the house loan funds beforw I apply for cards? Yes if ready to app for new mortgage, no new credit till the loan completely funds Or does it mater since it's in the same month? It does matter as already said no new apps till it completely funds, they will run ano report just a few days prior to close, you dont want anything rocking the boat. Any thoughts? Below are some of my stats:
Credit scores: In signature
AAoA: 5 1/2 years
Credit Utlization: 4%
Number of HPs: 0
Income: 156k
Any thoughts on how I should approach this would be greatly appreciated, or if there is anyone that had a similar situion I would love to hear your experience.
If you are at least 6 months out from the mortgage app you could add some new cards. I would CLI the cards you have prior to apping for new cards.
@gdale6 wrote:
@russ4690 wrote:Over the past several years I worked really hard to rebuild my credit, and I'm pretty close to being there. I'm at a point right now that I want to refinance my house (which is in my wifes name - not mine) into my name for a lower interest rate and get rid of my PMI. Additionally, since I have been rebuilding my credit I only have had a couple of CC's with low limits (300 and 750), and have been a AU on two of my wifes cards (DL AMEX 3000 / Chase Marriott 3000). I would like to apply for a set of decent cards to increase my overall avaliable credit and generate some rewards / points. Currently I'm not sure which order to do this in... should I wait until the house loan funds beforw I apply for cards? Yes if ready to app for new mortgage, no new credit till the loan completely funds Or does it mater since it's in the same month? It does matter as already said no new apps till it completely funds, they will run ano report just a few days prior to close, you dont want anything rocking the boat. Any thoughts? Below are some of my stats:
Credit scores: In signature
AAoA: 5 1/2 years
Credit Utlization: 4%
Number of HPs: 0
Income: 156k
Any thoughts on how I should approach this would be greatly appreciated, or if there is anyone that had a similar situion I would love to hear your experience.
If you are at least 6 months out from the mortgage app you could add some new cards. I would CLI the cards you have prior to apping for new cards.
Thanks for the info! Unfortunately, the two cards I have don't allow for CLI (at lease the websites say that). I'm planning on applying for the loan in the next week, so it looks like it would be good to wait.