 TITLE: Will a New Credit Card Affect My Mortgage Application? CONTENT: How to Get Your Credit Ready for a Mortgage\n-------------------------------------------\nPlanning ahead in general can eliminate stress. Are you thinking of buying or refinancing a home in the next year? Start preparing your credit now:\n*   **Check your credit report and score.** Find out where your credit stands and address any issues you uncover.\n*   **Pay every bill on time.** As mentioned, payment history is the most important factor in your credit score.\n*   **Pay down your debt wherever possible.** Mortgage lenders will take a close look at your debt-to-income ratio (DTI), so pay down as much debt as possible before applying for a mortgage.\n*   **Avoid opening new accounts before and during your mortgage application.** This includes car loans, student loan refinancing and credit cards.\nWhen you pull your Experian credit report and score, you'll see a list of factors that may be affecting your score. These can provide areas of focus to optimize your score before you apply for a mortgage.\nA final item to be aware of: Mortgage lenders typically check multiple credit scores, not just one. And, though the VantageScore® and FICO scores you see most often when you check any of the three major credit reporting agencies are a good general indicator of your credit standing, mortgage lenders may use slightly different scoring models, including FICO 2 from Experian, FICO 5 from Equifax and FICO 4 from Transunion. END