Did I screw myself by opening a new credit card?

Did I mess up my mortgage by opening a new credit card?

You opened a new credit card and want to know if that affects your mortgage application. A new credit account can impact your credit score and debt-to-income ratio, but the timing and your overall financial picture determine how much.

Opening a new card typically causes a temporary dip in your credit score from the hard inquiry and lower average account age. Lenders also look at your debt-to-income ratio—if the new card increases your monthly minimum payments, that changes your qualifying income calculation. The impact depends on your credit history length, existing credit mix, and whether you carried a balance.

Check your credit score and compare it to what the lender used for pre-approval. Review your debt-to-income ratio with the new card's minimum payment included. Look at your credit report to see how the new account appears and when the inquiry was recorded.

Many people in this situation contact their lender to discuss the change, get an updated credit pull, or provide documentation about the new account. Some choose to pay down the balance quickly or avoid using the card until after closing. Share the details with your lender and they can walk you through how the new card affects your specific loan application.