How long after closing for new credit?

[Anonymous]

Good morning,

     We closed on our new house yesterday.We got the keys today.How long should we wait to open up new credit accounts? We would like to apply for a Lowe's account and maybe another credit card to help with our credit mix. Right now we only have a First Premier Card with a $250 limit.

My credit scores are Equifax 644 and TransUnion 690.

      So how long should we wait before applying for new credit and what kind of cards or accounts should we get to rebuild our credit? Thanks!!

-Mariachidude

[Anonymous]

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@Anonymous wrote:

Good morning,

     We closed on our new house yesterday.We got the keys today.How long should we wait to open up new credit accounts? We would like to apply for a Lowe's account and maybe another credit card to help with our credit mix. Right now we only have a First Premier Card with a $250 limit.

My credit scores are Equifax 644 and TransUnion 690.

      So how long should we wait before applying for new credit and what kind of cards or accounts should we get to rebuild our credit? Thanks!!

-Mariachidude

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Since you closed you can start applying now.  If you have local banks that have a secured card program I would go with them first reason being is while you have to set it up like a checking account they would only use that money incase you didn't pay them for some reason.  After 6-12 months of using it and paying it on time they will refund your initial deposit and change your card to a actual credit card but your secured card would report to the credit bur. like any other card  Also you wont have to worry about all the fees and such for those other cards like first premier which charges your annual fee monthly so you always have a bill to pay