5 yrs since Chap 7 Owe total $500 on all CC Do I have too much avail credit? Is there a ratio such as having income as 4X avail credit, etc? I am planning to get mortgage 2 yrs from now. Have in order of most used(all have NO annual fees) Citibank MC 8000 (1 yr) Nordstroms Visa 500 (just got) MBNA MC 500 (had 4 1/2 yrs) Miles One Visa 1100 (1 yr) Cap One Gold Visa 2500 (3 1/2 yrs) Direct Merchants Mc 3300 (2 yrs) Orchard Bank Gold MC 1500 (2 yrs) Macys Store Card 100 (just got) Total is 17,500
I wouldn't worry too much about that now. You could check w/someone who does mortgages to hear what they're looking for, but if your balances are low, should not be a problem. Worst case is you call your least favorite cards and lower them or close them before you get approved. I'm 2.5 years post Ch7 and have 17k of CL on three cards. Got pre-approved for conforming loans w/5% down.
