but now my family wants to sell me a house for cheap in the 4th quarter of this year. I will still need to take out a 300k.

Anybody have any experience with churning and taking out a mortgage know how bad I just screwed myself unintentionally? Is there anything I can tell the banks that'll make them care less about my hard pulls? ha. My credit score actually went up when I started this...it's stilling really close to 740 which I believe is the line.

I've been writing a blog targeted at my family and friends showing them how to accumulate miles/points on a really basic level. Maybe I can say it's part of my business?

This just came out of left field recently so I'm concerned.

Sorry if this is in the wrong forum and move it to the correct one if possible. Thank you.

If you can manage a full 12 months between last application and the mortgage, you'll be fine. You may be able to explain the spree away anyway.

Make sure you get a real FICO score. There are mortgage-specific versions that are different from the credit card versions. (myfico.com apparently gives a mortgage version)

Make sure all of the cards (except one) REPORT zero balance - so pay in full before the statements close.

Then be prepared for an extensive manual review of the application wherein you tell the truth about all the cards with an attitude that, of course, it's not a big deal...

If you can't wait 12 months, then 6 months is better, since the effect of inquiries is strongest in the first 6 months.

(General advice.)

Did a refinance last year, they didn't ask any questions beyond the inquiries within the 6 months. I would be careful not to do another app before the mortgage though.

Whoa whoa, not related to the subject at hand but is it really what they REPORT? I thought the credit usage was just pulled from whenever the credit bureau randomly checks your credit, NOT what your credit card reported.

I've always waited till the report hits (paranoid that miles/points won't post unless it's part of the statement balance even though I've never found that to be the case) and my credit score is super high. Are you sure the report balance is what affects it?

Completely false perception.

The earning is based on what you charged, not based on the Unpaid balance.

I'm aware of that now, it's just a habit that's followed from the past.

I'm just asking whether it's a BAD habit- will it actually improve my credit score if my balance is zeroed out before they issue my statement? Obviously I already pay everything off before the deadline and interest accrues.

Most issuers report whatever the statement says. USBank, in particular, apparently reports the balance as of the first of the month. (Note that they can actually report on whatever date they want but most choose to report statement balance.)

Your score is high because your utilization is probably still relatively low. Your score probably went up at the beginning of your 9 cards because the extra available credit brought your utilization down enough to offset the new credit ding.

It's worth your time to compare what's on your credit report to your previous statements; that way we know of any anomalies.

EDIT: Just noticed you're not the OP. But the logic still applies: Adding a card or two will often help utilization more than hurt from new credit. Your credit is probably great because you still have low utilization even with balances reporting.

Had 6-8 inquiries in the past 6 months when we got a mortgage. they asked why, we said we love miles and promos and got the lowest rate at the time. no biggie, just use common sense and get a couple cards, but dont do 3 churns days before closing. A few months back should be ok, but whatever youre comfortable with.

Thanks for all the replies! I'll definitely make sure they show 0 balances before applying.

Remember, your score will be higher if you show exactly one very small balance on the report.

I keep expecting to get dinged for all my credit activities: 17 cards in the last 14 months, plus a car loan (at least 2 inquiries that may have merged since they were within a couple weeks), plus at least one HELOC inquiry. Well, I just applied for a refi on the house. Didn't need it per se, but it had favorable terms (Pen Fed is down to 2.625% on their 5/5 Arm w/up to 10K in closing costs rebated), and it was approved.

My view is if you are a good credit risk, then that is what will win the day.

I would recommending keeping them as close to $0.00 as you can during their underwriting and closing preparation. Many lenders will pull an update just prior to closing, to be certain that your balances have not increased to a material extent.

I thought it was a small balance across your CC's (or credit line), not just on one card. Is this incorrect? If you have a few hundred dollars on each of 3 cards is worse than have $1000 on 1 card?

Not a problem because I don't generally keep a balance and pay a few days after the charges show up on my online banking. I had a 1k balance when this all started but that's gone.