Hello,
I am trying to plan ahead for a mortgage in 1-2 years. I'm working on my credit report this year.
I'm wondering about the ideal credit card mix. My question is this--how many open credit cards should I have ideally for a mortgage? And how many of those should be with major banks? Do lenders look down on non-major banks and not count them towards mortgage approval?
For example, in building my credit, I got a card with Mission Lane that has 3k cl and cred.ai with $1500 cl.
If I'm able to replace them with major bank cards, do I keep these cards or cancel them now? Both have been around 6-9 months, so I don't think they're doing anything great for my credit age.
Thank you in advance for any and all advice!
No need to close them, when we or AUS look at your accounts it doesn't matter if it's a starter card or a $50k CL card, what is looked at it is the monthly payment amount (goes toward DTI) and on-time payments. Doesn't matter who issues the card as well and as long as you have at least 3 trade lines then that's all that matters.
Thank you--this is very helpful!