I'm new at this so forgive me if my question seems basic. We will likely be applying for a land loan within the next year or two. DH and I together have one 30 day late mortgage payment (4 years ago) and one 30 day late CC payment (11 months ago) on our credit reports. Everything else was paid on time. We have a nice long credit history, three cards with partial balances and a few unused cards, and a car loan. One CC has a 14.99%; APR. The other has 9.99%;, and the last one is a 1.99%; BT promotion. Would it make sense for us to apply for a new BT card? I doubt we'll be able to pay off our balance within the promotional period, but I thought it would be good to get rid of the interest for a year at least, and then see about transferring it elsewhere if we need to. Or we would pay off our CC debt all at once with profit from selling our house, which we hope to do within 1-2 years. I'm afraid of what the card application might do to our rating, since we are planning to apply for a land loan. I don't know our actual credit rating but one of our cards is a WaMu card and it sounds like I can get our rating through them for free, right? What would you do? Edited to add...some credit card companies are kinder/nastier than others - if I do apply for a new card, which companies are the best to do business with? Thanks.
Message Edited by littleduck on 03-06-2008 11:14 AM
