Hello everyone, I’m pretty new to the credit game. Around the time I signed up on the forum I opened my first secured credit card with the intentions of buying my first home. At the time I had no credit score. Things have been moving along pretty fast. Now I have three secured credit cards and two secured installment loans as well as a mortgage commitment on a house I’m in contract to buy. My mid score is currently around 733 or so. I have been trying not to make any waves during the mortgage process.
Last night I received a letter in the mail from TD Bank (my first secured credit card). They are saying that they are upgrading my secured credit card to non secured and realesing my deposit. I’m pretty excited because it would be my first non secured credit product and also my highest limit credit card (2,500). At the same time I’m a little bit concerned because I don’t want anything in my credit report to change during the mortgage.
I was originally told when I first applied for the secured card that it had no chance of ever graduating to non secured and after a full two years I could apply for a non secured credit card with another hard inquery and it would be a new account. The old account would be closed. Now the rep I talked to says it will be the same account and no hard pull will be done. I hope she’s right because I don’t want my score to go down by having an account closed and a new account added to my reports along with a hard pull. I didn’t ask for the card to be graduated. They sent me a letter saying it would just happen and there was nothing for me to do on my end.
Does anyone think this could make my score go down or complicate my mortgage process?