Just brought a flat - which address do I use?

MikeHartley

I've literally just bought a flat - in the last couple of days. Until the end of august I'm renting in another place, but officially completed on the flat.

I would like to apply for a credit card, but unsure which address to use. I'm still registered to vote, with my bank etc. at my rental place, but I notice most companies ask if you are a homeowner.

I want to be able to point out I own a house, but doing so I assume they will start doing credit checks on the new place and find no record of my being there yet - and that might hit my application.

On that basis, shall I just select my current rental address and save the hassle?

ermine

I'd go with your current address if you think you can get the cards issued within a month.

Though if they send your cards to the rental place and you have moved that's really bad news...

Not sure if the benefit of being a 'homeowner' outwieghs the disadvantages of zero history and a different electoral roll address, which sort of makes you look a dodgy geezer...

Wywth

MikeHartley wrote: »

I've literally just bought a flat - in the last couple of days. Until the end of august I'm renting in another place, but officially completed on the flat.

I would like to apply for a credit card, but unsure which address to use. I'm still registered to vote, with my bank etc. at my rental place, but I notice most companies ask if you are a homeowner.

I want to be able to point out I own a house, but doing so I assume they will start doing credit checks on the new place and find no record of my being there yet - and that might hit my application.

On that basis, shall I just select my current rental address and save the hassle?

Use the address you want the card sent to.

Most credit applications ask you to disclose how long you have been at that address, and if less than 3 years, your previous address(es)

izools

You will find your chances much reduced if you provide your new address as your current address - whilst as Wywth says they will be able to see your credit history, having no history at your current address will have a severely detrimental effect to your credit worthiness as will having to put on the form you haven't lived there long.

I'd be surprised if you're approved at all if you provide your new address.

With regards to if the card takes a while to arrive, you should have a redirect set up anyway - if not, I'd advise sorting one out.

Saying you're a homeowner on the application? Tbh it makes very little if any difference with most credit scoring models - except the Capital One Aspire range.

Wywth

izools wrote: »

You will find your chances much reduced if you provide your new address as your current address - whilst as Wywth says they will be able to see your credit history, having no history at your current address will have a severely detrimental effect to your credit worthiness as will having to put on the form you haven't lived there long.

I'd be surprised if you're approved at all if you provide your new address.

With regards to if the card takes a while to arrive, you should have a redirect set up anyway - if not, I'd advise sorting one out.

Saying you're a homeowner on the application? Tbh it makes very little if any difference with most credit scoring models - except the Capital One Aspire range.

People move all the time. Lenders won't lend much money if they will only consider lending to those who have been at the same address for 3+ years.

They will look to all the history and consider a credit status based on what they see.

(Moving frequently can adversely affect a credit rating as lenders fear you may move again, without telling them and without paying your debt, but a single address change will not usually have any adverse affect)

Gentoo365

I was in this exact same situation. I applied for a tesco clubcard (one of the 0% purchase ones).

I gave my current address, and they also needed previous addresses. The credit check was fine (as they would have found my record with the previous address data). I did however get a letter asking for proof of my new address.

Annoyingly they could not accept a council tax bill as it did not have my full name (just last name and initial). So I sent a bank statement with the new address on it.

So, basically, I would use the new address, but expect to have to prove your new address.

It will not affect your ability to pass a credit check, but proving your identity/address will be a bit more of a hassle.

FireWyrm

Apply using your current rental address, dont mention the new address. Have a forward set up to forward the new card to your new address and make sure you change the address to your new one in a month or so.

However, if you have just bought a flat, I assume there is a mortgage in place. If so, your credit rating will be shot to hell because of all the searches done. I would be surprised if you got anything like a sensible amount at a sensible interest rate so soon.