*****Beware its long but any advise/guidance would be greatly appreciated*****
1. My wife and I have a credit score of 701 and 736 but one of the things that's working against us is we are 26 and 24 years old and we haven't had credit as long as most. We are currently shopping around to take out a new credit card but I was wondering if anyone had any suggestions? The only major credit card we have is through my name and its a Chase Freedom card so whatever card we open, we will probably put in her name. I'm looking for a card that has good reward points for travel and/or hotel points.
So far I've kinda looked at the following:
Chase Sapphire Preferred Card
Marriott Rewards Premier Card
Capital One Venture Rewards Card
Discover It Miles (Requires excellect score so I'm debating to wait until we get to that score then apply)
I've even considered doing the Visa Black Card. Not sure if I wanna pay the $500 annual fee to receive VIP treatment. Would that be worth it? What is so special about it?
2. I filed our taxes pretty late this year so I'm still waiting on the IRS to finalize our returns. When I get those we are going to start looking for lenders for our first mortgage. Is it best for me to go ahead and get a new credit card now or should I hold off until we speak with a lender to see what we can afford? We currently live in Charlotte so if anyone knows of any lenders or how are the best options, please send it my way. Also looking for a realtor as knows the Southend/south charlotte area. We are currently renting in Sedgefield (Southend area beside Dilworth).
3. I've always been told when you open a line of credit, regardless if its a retail card or major credit card that you should never close the account since part of your FICO score is looking at the amount of credit you have available and the amount of time the credit line has been open. I spoke with my boss' girlfriend that happens to be a realtor last week about what a mortgage lender looks at to determine the amount I would qualify for. For my situation, she says that a lender is only looking at student loans, debt/available credit on current credit cards but they don't look at retail credit cards. She advised that I close all retail cards if all are paid off and I don't use them anymore. I'm no expert but I've never heard that before
Anyways, for those of you that read all this and could provide any input. I will be forever grateful. Thanks in advance .
If anyone wants to send me an email: taylorgardner89@gmail.com
1. My wife and I have a credit score of 701 and 736 but one of the things that's working against us is we are 26 and 24 years old and we haven't had credit as long as most. We are currently shopping around to take out a new credit card but I was wondering if anyone had any suggestions? The only major credit card we have is through my name and its a Chase Freedom card so whatever card we open, we will probably put in her name. I'm looking for a card that has good reward points for travel and/or hotel points.
So far I've kinda looked at the following:
Chase Sapphire Preferred Card
Marriott Rewards Premier Card
Capital One Venture Rewards Card
Discover It Miles (Requires excellect score so I'm debating to wait until we get to that score then apply)
I've even considered doing the Visa Black Card. Not sure if I wanna pay the $500 annual fee to receive VIP treatment. Would that be worth it? What is so special about it?
2. I filed our taxes pretty late this year so I'm still waiting on the IRS to finalize our returns. When I get those we are going to start looking for lenders for our first mortgage. Is it best for me to go ahead and get a new credit card now or should I hold off until we speak with a lender to see what we can afford? We currently live in Charlotte so if anyone knows of any lenders or how are the best options, please send it my way. Also looking for a realtor as knows the Southend/south charlotte area. We are currently renting in Sedgefield (Southend area beside Dilworth).
3. I've always been told when you open a line of credit, regardless if its a retail card or major credit card that you should never close the account since part of your FICO score is looking at the amount of credit you have available and the amount of time the credit line has been open. I spoke with my boss' girlfriend that happens to be a realtor last week about what a mortgage lender looks at to determine the amount I would qualify for. For my situation, she says that a lender is only looking at student loans, debt/available credit on current credit cards but they don't look at retail credit cards. She advised that I close all retail cards if all are paid off and I don't use them anymore. I'm no expert but I've never heard that before
Anyways, for those of you that read all this and could provide any input. I will be forever grateful. Thanks in advance .
If anyone wants to send me an email: taylorgardner89@gmail.com
