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firefly216

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Need Summer Time wiggle room
Summer time is hard for us financially. our income takes a large dip. what is your recommendation about applying for a credit card to give us some wiggle room in the months of July and August? if we do this how will it affect our credit score. We want to try to apply for a loan to buy a second home in about a year.

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Any time you open a new line of credit your score will drop initially, but then it increases over the months as you make ontime payments.  Main things when applying for home loan - no recent late pays, no collection accounts with balances, no past due amounts.  You also want to be sure your debt-to-income ratio isn't too high either.  You can visit www.bankrate.com for more mortgage tips.

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