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You are here: Home / credit / How Credit Cards Can Hurt Your Home Loan

How Credit Cards Can Hurt Your Home Loan

by Kathy T.

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Your credit score is one of the main items that lenders look at when determining if you qualify for a mortgage. Credit card use will affect your score, and lenders will also look at how you handle them. Misusing a credit card can damage your chances of getting approved, or even result in a rejection. For credit card mistakes that can cost you, read this article by Lindsay Konsko at US Money News:

-Paying late- this is probably the worst mistake you can make

-Over-utilizing credit

-Applying for too many cards at once

-Never getting a card at all- having a card and using it responsibly shows that you pay your debts.

-Racking up debt

Photo Credit: Sean McEntee 

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