Apply for a credit card before or after buying a property

Heisenberg87_2

I have been offered a credit card by Nationwide and at present do not need one. However in the next 3 months I will be buying a small property with my partner and we would like a credit card so we can start purchasing things washing machines/sofa etc...

My question is am I best to do this now? Or wait a month before I buy my property or wait until after?

My current salary is £25,000 my partners is £28,000 and we have £0 debt with an equifax/experian credit score of excellent.

eskbanker

If you're going to need a mortgage then it'll be less risky if you wait until after completion (i.e. why potentially jeopardise a large and critical credit agreement by going for a smaller less important one as well), but if no mortgage involved then fire away!

grumbler

Generally, I don't see how one credit card without a balance can affect a future mortgage application.

However, if you have the mortgage agreed already, check with the provider as many (all?) stipulate that you have not to apply for new credit until the deal is done.

Soon after changing the address it's usually more difficult to get a CC.

stator

I wouldn't, there's a risk it will affect your mortgage offer and none of us can say whether it will or not.

Heisenberg87_2

eskbanker wrote: »

If you're going to need a mortgage then it'll be less risky if you wait until after completion (i.e. why potentially jeopardise a large and critical credit agreement by going for a smaller less important one as well), but if no mortgage involved then fire away!

It's mainly will I be eligable after I have a property? Thats what I'm worried about...

YorkshireBoy

Heisenberg87 wrote: »

I have been offered a credit card by Nationwide

If this the same 'guaranteed acceptance' offer I got around a year ago they didn't credit search me. Of course that's not to say they'll treat you the same.


Even if they don't search you though, you'll still have a recently opened credit card account on your file when the mortgage provider searches you (probably twice?) in 3 months time. So you'll have to weigh up the 'risk'.

Heisenberg87_2

YorkshireBoy wrote: »

If this the same 'guaranteed acceptance' offer I got around a year ago they didn't credit search me. Of course that's not to say they'll treat you the same.


Even if they don't search you though, you'll still have a recently opened credit card account on your file when the mortgage provider searches you (probably twice?) in 3 months time. So you'll have to weigh up the 'risk'.

It is yes, its already been pre agreed. Thank you..