Today’s question is: Is My Credit Different For Credit Cards vs Mortgages?
Ask us your credit questions in the comments and find your next card at https://www.creditcardinsider.com/
Credit cards and mortgages are different types of loans, and so applying for them will be quite different. Credit cards are given very small credit limits compared to the typical mortgage amount, and so the process is much more thorough for mortgages. You may be approved for a credit card practically instantly, and only one credit report and credit score will be used. Mortgages, on the other hand, involve checking all 3 of your credit reports and credit scores, as well as verifying other personal and financial information.
Every week, John Ulzheimer answers YOUR credit questions. Email us, give us a call, or ask on live chat, and we may answer your question on YouTube!
To learn about credit scores, credit reports, managing debt, and how credit cards work, check out our learn section at https://www.creditcardinsider.com/learn/
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