Secured CC close or keep open

[JacksonStar]

This is my only line of credit. I got it last year to establish credit and now I can close it and get my deposit back ($500). BBVA will give me a new card with higher limit. I'm applying for a mortgage loan next month. Should I close it and get a real CC with higher limit or keep it open till after I close on a house?
$450 limit
$25,000 student loans current for one year.
$40,000 income
670 Fico score
No other debt.

[Revelate]

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@JacksonStar wrote:
This is my only line of credit. I got it last year to establish credit and now I can close it and get my deposit back ($500). BBVA will give me a new card with higher limit. I'm applying for a mortgage loan next month. Should I close it and get a real CC with higher limit or keep it open till after I close on a house?
$450 limit
$25,000 student loans current for one year.
$40,000 income
670 Fico score
No other debt.

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Don't touch anything while a mortgage is in the cards other than cleanup .

After the mortgage closes and you have keys in hand, go and get a three useful credit cards (2 rewards that fit your spending, or 3, or get one with BBVA if that's your primary financial institution) and if you want to close the secured one you can if you wish.

[takeshi74]

This.  General adivce is:

No new credit 6 months to 1 year prior to a mortgage.

At least 2-3 cards for scoring purposes.  Once you have 2-3 unsecured, close the secured if you have no need for it.

[bdhu2001]

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@takeshi74 wrote:

This.  General adivce is:

No new credit 6 months to 1 year prior to a mortgage.

At least 2-3 cards for scoring purposes.  Once you have 2-3 unsecured, close the secured if you have no need for it.

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+1