How Much Does Credit Score Matter?

[Nicholas Spicher]

Hello,

I am looking to get a rental property for my first deal using a traditional bank loan. I understand credit score has a huge impact on the loan one can receive. I'm looking around the Maryland area (not sure if location matters). I know it will take a year to save up and get the 20-25% down payment.  Since I have a year to save, should I get another credit card right now to try and boost my credit score? Or should I wait till after the first deal?

What I Currently Have (fresh out of college):

DiscoverIt Card - have had it since December 2018 and use it once a month on a pack of gum. Pay it off in full each month etc.

Also, what is people's advice with using a traditional bank? Credit Unions are ideal, but what has been your experience? I'm curious to hear people's stories.