@uswala wrote:Hi,
I am relatively new in US (less than 2 years) and have 2 questions regarding credit history:
1. I see a lot of people talk about trying to get lower APR's on their cards. I always pay-off my cards completely and do not carry any balance. Now I want to know that will APR's on my card affect my credit history in any way?
2. I saw a post which said that in order to get good rates when going in for motgages most people usually look for a good mix of credit which should include loan account/s, credit cards from banks as well as credit cards from stores. I have quite a few credit cards including Chase Freedom ($1600), Barclays mastercard reward ($1100), Discover IT ($4000), a mastercard from my credit union ($4000) and Costco Truearning ($3500). In addition, I am authorized user on my fiancee's cards as well, which include Amex BCE ($9000), Discover IT ($1500), Cap One Quicksilver ($2000) and Citi Dividend ($4300). My oldest account age is 1 yr 9 month with newest at 1 month. Now I want to know do I still need to have a store credit card? Will that be anything good to have in my kitty? I do have an offer with $750 limit from onestopplus.com with the shopping cart trick waiting for me.
Please advice.
Thanks all in advance.
APRs do not effect your FICO scores. Having a lower APR is nice if you ever need to carry a balance for emergencies.
With at least 3 TLs, you have more than enough cc's for a mtg. It is not necessary to add a store card.
