Effect on mortgage score if closing 2 brand new CCs

[Anonymous]

Long story short. I got 2 new cc's on their way. I didn't need them, i have several. As of a few days ago, I'm unexpectedly mortgage shopping sooner than i expected.

Those 2 new cards are probably going to screw up my mortgage scores when they report.

If i close them immediately, will it reduce the negative effect on my scores of having 2 new credit cards?

[dragontears]

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@Anonymous wrote:

Long story short. I got 2 new cc's on their way. I didn't need them, i have several. As of a few days ago, I'm unexpectedly mortgage shopping sooner than i expected.

Those 2 new cards are probably going to screw up my mortgage scores when they report.

If i close them immediately, will it reduce the negative effect on my scores of having 2 new credit cards?

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Nope. 

Closed or open, they will report and affect your mortgage scores the same. 

[SouthJamaica]

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@Anonymous wrote:

Long story short. I got 2 new cc's on their way. I didn't need them, i have several. As of a few days ago, I'm unexpectedly mortgage shopping sooner than i expected.

Those 2 new cards are probably going to screw up my mortgage scores when they report.

If i close them immediately, will it reduce the negative effect on my scores of having 2 new credit cards?

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Sorry, no. Closing them won't do any good. You might as well keep them and let them report zero balances.

[OmarGB9]

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@SouthJamaica wrote:

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@Anonymous wrote:

Long story short. I got 2 new cc's on their way. I didn't need them, i have several. As of a few days ago, I'm unexpectedly mortgage shopping sooner than i expected.

Those 2 new cards are probably going to screw up my mortgage scores when they report.

If i close them immediately, will it reduce the negative effect on my scores of having 2 new credit cards?

---

Sorry, no. Closing them won't do any good. You might as well keep them and let them report zero balances.

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+1

[Anonymous]

I should clarify - i have not activated these cards yet, and they are not reported yet. The hope was they would never show up, or at least not hit me with a "new credit card" related neg on my mortgage score (which are very sensitive to revolving credit) if they do report.

[dragontears]

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@Anonymous wrote:

I should clarify - i have not activated these cards yet, and they are not reported yet. The hope was they would never show up, or at least not hit me with a "new credit card" related neg on my mortgage score (which are very sensitive to revolving credit) if they do report.

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They WILL report, activation of the actual card has nothing to do with reporting. 

[donkort]

If you have a high utilization%, your utilization % will go down because you would have 2 more "credit limits."  This might even increase your score.  Credit card utilization counts greatly within credit scoring.   Especially if it brings utilization down to below 30%.  

[Anonymous]

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@dragontears wrote:

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They WILL report, activation of the actual card has nothing to do with reporting. 

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I only did this once (2 years ago) and it reported for about 2 months, then dropped. I wasn't sure if this was typical

[Anonymous]

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@donkort wrote:

If you have a high utilization%, your utilization % will go down because you would have 2 more "credit limits."  This might even increase your score.  Credit card utilization counts greatly within credit scoring.   Especially if it brings utilization down to below 30%.  

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my utilization is 12k out of 75k, and dropping, so I'm pretty decent there. 

[SouthJamaica]

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@Anonymous wrote:

I should clarify - i have not activated these cards yet, and they are not reported yet. The hope was they would never show up, or at least not hit me with a "new credit card" related neg on my mortgage score (which are very sensitive to revolving credit) if they do report.

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Probably they will report anyway, but you might as well refrain from activating them on the offchance that this might delay their being reported.