Credit Card advice

[Anonymous]

I'm late in life on using credit and am thinking about applying for a mortgage in a year or two when i get enough saved for a twenty percent downpayment while keeping an emergency fund that is seperate.  

My brother told me to research on here for advice.  

My credit shows:

36 month car loan no missed payments with five more payments left

1 small student loan for extra expenses that the military didn't cover for school.  that is paid ontime and I have paid it off early

3 credit cards:  Cash Back USAA American Express 5000, Navy Federal Platinum Visa 5500, and my highest Capital One Quicksilver 8300

I guess my question is do I need any other credit cards to get a decent rate on a mortgage?

[Anonymous]

Have you pulled you credit report?

[Anonymous]

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@Anonymous wrote:

Have you pulled you credit report?

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I did the 3 report and score one time purchase.  

It said my Fico scores were 741 on Equifax, 773 on Trans Union and 754 on Experian 

I do not have any inquiries showing on any of the reports.

[NRB525]

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@Anonymous wrote:

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@Anonymous wrote:

Have you pulled you credit report?

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I did the 3 report and score one time purchase.  

It said my Fico scores were 741 on Equifax, 773 on Trans Union and 754 on Experian 

I do not have any inquiries showing on any of the reports.

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Very nice scores. If you are considering any major credit app like a mortgage, do not do any credit card apping. You have enough card credit, your scores are in excellent shape, and all you will do is drag them down for half a year by applying for any credit that is not your main objective.

Good luck on the mortgage shopping! Take your time to shop first before committing to any "Let's check your credit" suggestions.

[Pway]

No you do not need another credit card to get a decent rate on a mortgage.  You have three bank cards, which is good and you have a auto loan in your credit mix.  Everything looks good.

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Have you pulled you credit report?

---

I did the 3 report and score one time purchase.  

It said my Fico scores were 741 on Equifax, 773 on Trans Union and 754 on Experian 

I do not have any inquiries showing on any of the reports.

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Very nice scores. If you are considering any major credit app like a mortgage, do not do any credit card apping. You have enough card credit, your scores are in excellent shape, and all you will do is drag them down for half a year by applying for any credit that is not your main objective.

Good luck on the mortgage shopping! Take your time to shop first before committing to any "Let's check your credit" suggestions.

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Thank you.   I was reading on here for a few days about people talking about having thick files so that's what confused me a bit.  

[Anonymous]

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@Pway wrote:

No you do not need another credit card to get a decent rate on a mortgage.  You have three bank cards, which is good and you have a auto loan in your credit mix.  Everything looks good.

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Thank you as well for the advice.

[Anonymous]

Yea, I did the same, it's a small chunk of change but well worth it. It is the most detailed score and report I've seen.

your score sounds great, other area's you should be looking at is

Average Age Of Accounts (AAOA)

Card utilization %

Credit Lines

I'm sure other members will chime in, but from what I'm seeing it doesn't look like you need additional cards. Additional cards would bring down your AAOA and also give you additional hard pull credit inquires. Your limits look good along with your car loan and credit score I would say you have a pretty good mix.

I would stick around and get more input from other members.

[Odiseous]

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@Anonymous wrote:

I'm late in life on using credit and am thinking about applying for a mortgage in a year or two when i get enough saved for a twenty percent downpayment while keeping an emergency fund that is seperate.  

My brother told me to research on here for advice.  

My credit shows:

36 month car loan no missed payments with five more payments left

1 small student loan for extra expenses that the military didn't cover for school.  that is paid ontime and I have paid it off early

3 credit cards:  Cash Back USAA American Express 5000, Navy Federal Platinum Visa 5500, and my highest Capital One Quicksilver 8300

I guess my question is do I need any other credit cards to get a decent rate on a mortgage?

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When I started planning to buy a house in 2009, I was told by BofA "3 open credit lines, with 2 years of history on each", is what they required. After that, it's your score that matters.

[Anonymous]

You look solid for a mortgage and have enough cards.  How are utlizations on the cards?