- Posts: 2
- Joined: Tue Aug 07, 2012 9:06 pm
- Location: Midwest
I want to put myself in a good position to get a mortgage in 1-2 years, currently saving for a down-payment. I have a BankOfAmerica CashRewards card with only a 700$ limit (card was started as a Student Credit card, I had them change it and it kept the old limit).
I have had this line of credit open for over 2 years, and credit karma consistently reports my score from around 740-751 depending how much of my credit line was in use at the time I checked it.
I would like to have 2 or 3k available to charge just for making larger purchases, not sure if I should ask BOA to up my limit or add another card somewhere else. Also a bigger line of credit would let me decrease my utilization %.
Does a bank care what my credit limits are or if i have one card instead of two? I want to do whatever will likely get me approved with the best interest rate and least restrictions on a mortgage in 1-2 years.