Originally Posted by
justinh20
I'm still a newbie to the churning/points gathering world and am finally ready to take action on my own AOR plans based on my own goals but before I do I wanted to see if there's anyone else out there who also does any light real estate investing (one new property every year or two, usually hold it as a rental) and has any commentary on the potential impacts. I know the general rule is to avoid applying for any new credit at least 6 months before applying for a mortgage (investment mortgage in my case) but beyond that, what are the implications of having 6-8 credit cards open with 15-45k lines of credit available and applying for a mortgage?
I'm no expert on mortgages, but I would think if you get into the points game slowly and do some MSing on the side for example, you should be fine
banks love loaning you money, as long as they have the statistical data about what you do with it and that you can be relied upon to pay them back
Right now, the banks probably have the idea that you are into real estate investing. But if you slowly introduce points and miles collecting into the mix, you should be fine!! The problem is, people read about this hobby, and try to replicate some of the methods discussed here too quickly to where all the sudden they are viewed as a risk, and find themselves shut down
Again, whatever you do go easy at first etc
PS I found this random video on YouTube which I think fits your situation. I think the general advise he gives is correct but the application is a bit off...
1. ALWAYS ALWAYS ALWAYS pay your BALANCES IN FULL EACH MONTH
2. Its ok to do More than 1/3 of your BAL and still be approved for credit ( what he is talking about is utilisation ratios, and it is possible to to still actively use your cards , and your Utilization ratio/credit score not go down much)
https://www.youtube.com/watch?v=OVdt6jzl37k