- Centurion Member
- Posts: 179
- Joined: Fri Apr 12, 2013 4:47 pm
- Location: Indianapolis, IN
Ask for limit increases on the cards you use, especially if you let a <10% balance carry month to month. If you feel up to it and are sure it will be at least 12 months until you are getting a home loan, ask for limit increases on more than just two or three. Apply for an Amex revolver (like the Blue Cash Everyday) and put your paid in full expenses on that card. Not only will you get rewards for gas and groceries, but you'll also have the 3X CLI option after 60 days, which makes your utilization even lower.
This is only my advice if you will be waiting a full 12 months before applying for a home loan. If you're looking to apply for the home loan in the next 12 months or even worse, the next 6, I wouldn't touch your limits unless you're sure they will be soft pulls.
Others on the forum will have great advice, I'm certain. I have never bought a house, so my advice may not be most appropriate.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680