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Eric Lind
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Mortgage Lender tells me to not pay full credit card balance?

Eric Lind
Posted Jun 1 2024, 21:17

I recently filled out a pre-approval application for a mortgage, however, the lender did a hard pull and told me they came back with no score. Credit karma gave me a score of 711, I know it is an estimate but I found it weird one had a score yet the lender got none. The lender told me they got no score because I was paying my credit card balance to zero. They told me to get a Capital One secured card and never pay it to zero. I could not find any affiliation between the lender and Capital One. Is leaving a $10 balance at all times a real strategy to gain a credit score or a possible reason the lender did not get any score when they did the hard inquiry? Everything I have read and learned says to pay off credit cards on time and to a zero balance since that is the point of credit and how you show you are financially responsible. I would appreciate any advice you can give me!

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