Do I need a credit card?

[Benjamin Freed]

I am a senior in college (22 years old) and recently accepted a job which I will start at the end of June 2023 (roughly 8 months) and I plan to buy a single family home to house hack in the location I will be moving to. I do not have a credit card and have never owned one and I am wondering if I should get one now and start building up my credit score before buying a home. I plan to use an FHA loan but have not started the process of getting approved and I do not know what my credit score is right now. Please let me know if you think I should start the process of raising my credit score now while I have at least six months before I will purchase a house or if it is not necessary for a first time home buyer. Feel free to leave any other advice for someone looking to house hack in a single family home for the first time. Thanks!

[Brad Hammond]

Hey @Benjamin Freed, yes I think you should get a credit card and pay it off every month.  You are going to need a decent credit score and getting a credit card is a great way to do that.  Beyond that, I would talk with a mortgage lender.  You could just talk to the mortgage department at whatever bank you use right now.  Your goal here is just to see what you will be qualified for and what your credit score is.  The lender can usually give you tips on how to look better to a lender.