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Mortgage Offered - When Can I Apply For A Credit Card?
mike_1972
Posts: 2 Newbie
Hello All!
Some advice needed, if you dont mind.
I am in the process of buying a new property - my mortgage with YBS has gone through the approval process and I now have an offer. I am hoping to exchange next week, and complete at the end of May.
The property is slightly larger than my current and so I will need to go out and buy a new bed, wardrobes etc..etc...
Whilst this does not have to be done immediately, I would like to take advantage of a new credit card with a 0% intro rate - this as the YBS mortgage is an offset, meaning my furniture savings can stay where they are for at least a year, whilst the I use credit card company's cash!
Does anybody know when its a good time to apply for a new card? I have 2 credit cards which are cleared fully every month.
Should I apply now, a month or so before completion, using my current address (which I have had for >6 years), or is this likely to upset YBS who might undertake a pre-completion credit check? Or, safer to leave it until after completion and moving - using my new address etc..etc..
Getting this mortgage has been a real pain, so I do not want to put it at risk for the sake of a circa £5k credit limit on a new card.
Thanks for your assistance in anticipation.
Mike
Some advice needed, if you dont mind.
I am in the process of buying a new property - my mortgage with YBS has gone through the approval process and I now have an offer. I am hoping to exchange next week, and complete at the end of May.
The property is slightly larger than my current and so I will need to go out and buy a new bed, wardrobes etc..etc...
Whilst this does not have to be done immediately, I would like to take advantage of a new credit card with a 0% intro rate - this as the YBS mortgage is an offset, meaning my furniture savings can stay where they are for at least a year, whilst the I use credit card company's cash!
Does anybody know when its a good time to apply for a new card? I have 2 credit cards which are cleared fully every month.
Should I apply now, a month or so before completion, using my current address (which I have had for >6 years), or is this likely to upset YBS who might undertake a pre-completion credit check? Or, safer to leave it until after completion and moving - using my new address etc..etc..
Getting this mortgage has been a real pain, so I do not want to put it at risk for the sake of a circa £5k credit limit on a new card.
Thanks for your assistance in anticipation.
Mike
0
Comments
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I would wait until completion.
Its unlikely they will withdraw the offer if there is no balance on the card but its not worth risking it.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
No new credit between application and completion.
Chanted over and over, while rocking slowly back and forth...I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Awesome - thanks guys - I will wait until I move in!0
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