Credit card apping after mortgage close

[sleephla541]

So I'm anxiously awaiting for my mortgage to close (3/24) and holding off on attempting to open any credit cards for obvious reasons.  My question is this:  Once I close, I know some creditors will ask you for a current address and proof or whatnot.  I'd imagine this is a common thing once a person closes (going to Lowes, Home Depot, ect) does, but I'm wondering if I may run into issues once I put my new address on a credit card form after I've just closed.  Do you think I may run into any issues with being denied for a visa/mc hoping to get around 3-4K.  

My credit profile looks like:

2 Cap 1 cards = $2750.00 ($2000 left)

Kay card = $2500 ($258 left)

Toyota car payment = $31000 ($25000 left)

Mortgage = 149500 (just about to close)

It may sound like a silly question, but I don't want to take a few hard inquiries if I may not be approved for any credit cards due to just closing on the mortgage.  I'm looking to transfer my two cap 1 cards to something more prime since my credit has improved greatly as well.  

Your help and suggestions are always much appreciated!  Thanks!

[marty56]

It is hard to say.  IMHO they would more likely refuse you for the high util on your Cap 1 or possibly for a low AAoA.  If you have to revolve balances, I would look towards a store card for a major purchase.  I would not apply right now until verything settles with your new home.  You may need to purchase some things for your home so a store card would serve your better.  I would not worry about wether a card is prime or not unless it has an AF or too low a CL. 

[sleephla541]

Awesome, thanks for the info!  Hopefully I can get a Lowes/Home Depot card with a good enough limit for a washer/dryer.  *Fingers crossed*

[soliloquy]

I closed on my house in May of last year. I think that store cards are easier to get than Visa/MC/Disc/Amex but when I applied for a major credit card, it asked me to list my monthly house payment on the application and having just closed on my house I answered honestly about what the new mortgage payment was. Well, I got a letter saying I was denied because the information I provided on my application could not be verified. When I inquired about this, I was told that I reported a mortgage payment that was not on my credit report. Well it took 3 months or so before the mortgage actually showed up on my credit report. In the interim, I reapplied with nationwidebank.com for a credit card and they gave me a reasonable limit and a great interest rate with no issues.

Think about the fact that those store cards (I think Lowes is GEMB) have a crazy high interest rate. Uusally something around 24% no matter how great your credit is. I'd consider getting a major credit card (maybe try nationwide). I was in your same situation as I needed to buy new appliances for the house.

Good luck!

[ForceMd]

FYI, Home Depot has 0% interest for 6 months on all purchases above $300 every day, and they regularly have 12 month 0% interest promotions (same $300 requirement). I personally like the selection at Lowes better, but for major appliance purchases, 0% interest for 6 (and sometimes 12) months can't be beat. I am not sure if Lowes have since countered Home Depot's offer with their own store card.

[sleephla541]

Great info! Thank you guys so much. I'll update as soon as I hear back!