Should I wait to apply for another card?

[Anonymous]

So, I've just started reestablishing credit in March. No BKs or debt, just never had credit. I went from no credit score to where I currently am - 704 and an AAoA of 4 years. I only have 2 credit cards, but my husband and I want to buy a house next year, but even with my thin credit profile (DH's is fine), I'm a little gun shy about applying for a new card six months before getting a mortgage and lowering my AAoA. Should I wait until after we get our mortgage or just do it? If it counts for anything, I'm a member of NFCU. Thanks for the help.

[Remedios]

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@Anonymous wrote:
So, I've just started reestablishing credit in March. No BKs or debt, just never had credit. I went from no credit score to where I currently am - 704 and an AAoA of 4 years. I only have 2 credit cards, but my husband and I want to buy a house next year, but even with my thin credit profile (DH's is fine), I'm a little gun shy about applying for a new card six months before getting a mortgage and lowering my AAoA. Should I wait until after we get our mortgage or just do it? If it counts for anything, I'm a member of NFCU. Thanks for the help.

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You should not be applying for any cards at least a year prior to mortgage application

Where is 4 years of AAoA coming from? AU accounts or loans? 

[Anonymous]

Ok, thank you.

The AAoA is from my own card, which will be a year old in February and au on one of my husband's cards.

[Remedios]

Dont apply for anything till mortgage is done and over with especially because a lot of lenders require all AU accounts to be removed, so each profile can be scored on it's own merit. 

Older scoring models are not kind to new accounts, and your AAoA will also change if your potential lender wants AU account removed, so there may be scoring loss there 

Good luck with mortgage app!  

[Anonymous]

I'm confused as to how someone "never had credit" but still has a 4 year AAoA from their own account(s).

[Remedios]

If you continue reading past the first post, OP answered that question.

[Anonymous]

Thank you for your help, Remedios! If CK and the like are to be believed, it appears that aside from the AAoA, my credit score will be about the same if my AU won't count during the mortgage process, so I guess that's a good thing.

[Remedios]

Simulators are not exactly reliable, but if your youngest card reaches one year before the mortgage application starts, there should be some points gained as long as your utilization remains low. 

Right before, your husband should try to have only one card reporting a small balance, maybe around $10.00

Same goes for you. That will ensure you squeeze every point you can before the actual mortgage application. 

[Anonymous]

That's what we're working on now. My husband gives me a hard time about being obsessed with our credit scores, but I tell him it's because I want the best rates possible. Lol

[Anonymous]

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@Anonymous wrote:
CK and the like are to be believed...

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They aren't.  Any recommendations or simulations provided by CK or any other CMS are garbage and should be ignored.  Their MO is to make money, which is why tied to simulations or recommendations are often offers or suggetions to apply for a CC, loan product, etc.