Applying for a credit card 2 months before mortgage application

jenand8285 · 2 May 2013 at 9:23AM

Hi,

I am looking for some advice. I am planning on applying for a mortgage in 2-3 months. I ave not previously had much credit, but what I have has always been paid on time.

Whils I have been saving for the deposit, I always intended to apply for a credit card and use small amounts each month to build me credit rating.

Anyway, I never did get round to getting one and now I think it may too late before I am applying for the mortgage.

Will it do more harm than good to apply for one now? Will it look bad if I then apply for a mortgage in 2 months?

My noddle credit score is only 3/5, I do not know what the others are yet.

hamster2013 · 2 May 2013 at 11:02AM

i have never owned a credit card
i have never looked at my credit history via these experian, equifax and others
i dont even think they have a rating for me considering i am not on electoral roll, nor do i have more than one bank account - and 0 credit cards, just a debit card.

the bank i have been banking with agreed to give me the mortgage based on my paperwork - did not take any longer than others.
plus banking with them gave the history they needed in terms of statement and how well i run my account (salary and bills go in and out from that only account)
I do have a savings account where the deposit was being gathered through the months.

i would not risk by applying a credit card so close to your mortgage application - if anything, it might raise an eyebrow of an underwriter who would see it come up in your credit report.

jenand8285 · 2 May 2013 at 2:19PM

My banks rate is rubbish! Not really worth considering applying to my bank.

jenand8285 · 3 May 2013 at 1:25PM

My appointment is tomorrow with the bank. Can anyone comment on whether or not it will have a bad effect?

I will cancel it if it will do more harm than good.

I only want to one to improve my credit score, not have the opposite effect.