Everyone knows that interest rates are impacted by credit scores. The lower the credit score, the higher the interest rate. But hardly anyone understands the impact of a lower credit score to your home purchasing power. It is a lot more than everyone understands, and even mortgage loan officers.

Many times I hear consumers say that they need to have a certain number of credit cards to “build their credit scores.” Credit cards can both build, but also drop your credit scores. What is a good mix of credit cards you should have?