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siggmooo

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Should I apply for a new credit card in my situation? 0, 1, or 2?
Hello,

I am wondering if I should apply for a credit card at this time in my situation or not, and if so, how many?

I started building credit 8 months ago (my oldest and only line of credit) with the Discover IT Student card. I want to continue to build my credit, but I am also looking to possibly get a small mortgage this year (in about 8 months maybe).

I understand that getting more lines of credit will boost my score, as well as helping me with my utilization. But I am also aware that it will decrease my average length of time for my credit lines as well, hurting my credit. What option will net me the best credit score in 8-10 months? Adding 0, 1, or 2 credit cards, and if 2, should I apply for them both together or space them out?

I am looking at the Blue Cash Preferred® Card from American Express.
("Good" chance of being approved -- is this worth risking, or should I wait until "Very Good"?)

As well as the Chase Freedom®
("Very Good" chance of being approved).

My scores: TU: 717, EQ: 731, FiCO: 738.

Thank you for your time!

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You need to build your credit history some before you can qualify for a mortgage, so I don't think you will be able to get a mortgage at any decent rate in 8 months.  Take your time, build your credit and a down payment fund so that you will be in a better position.  Remember, with a home, you may have to pay property taxes and significant insurance,plus you need to be able to handle the inevitable repairs.  I recently had a dishwasher leak in my moble home.  Insurance will cover repair and replacement of the floor and carpet but I have to pay the deductible ($500) plus the replacement dishwasher ($650) and,since the garbage disposal quit, and the restoration bid is for removal and replacement so they can check under the cabinet for moisture, I bought a new garbage disposal to replace the old ($100). And I am on a veteran's pensiion. It is certainly not as simple as is paying rent. That is something to think about.

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