I have been getting my scores up in order to apply for a mortgage. I am finally at the point where my scores could probably get me qualified for a new CC, but I do not want to apply for anything else until after I get a mortgage. Once I get that mortgage, however, I do want to have a CC for emergencies--I have had too many instances where I am all caught up on bills and ready to start doing some major saving, and then my car breaks down or something stupid like that. It would be nice to absorb these unexpected expenses a little with a CC (I do have a secured CC now, but I need to keep room on here for work travel expenses, so this can't be used as an "emergency card").
I guess what I am getting at is how much will the new mortgage initially lower my score and how many on-time mortgage payments will it take to see the score start going back up?
Currently: TU 561, EQ 626, EX 606 (scores have been going up rapidly in the past couple months due to some "cleaning up" of my reports, so I expect those scores to be even higher next month)
Accounts: Student Loan: ~$15,000 balance (never late)
Secured CC: $300 balance ($1100 CL--never late)
Auto Loan: $2800 balance (never late--2 years into loan)
Score is low due to a few baddies from about 5 years ago.