Mortgage & Credit Card Applications

visidigi

Hi all,

We're in the process of moving house, going to a new build and taking out a joint mortgage on it. We're well within the affordability and the solicitor has all the paperwork - we have the loan paperwork through and the deeds are signed.

Contracts are expected to be exchanged in the next week or so.

I currently have two credit cards (just closed a third) - both accounts have the other half as a second card holder. Both are empty (one is primarily for travel expenses via work).

As we're moving we will be spending ALOT of money on new furniture etc - and I figured I might as well try and get some reward for it.

So looking at the Amex Preferred Rewards Card (card requires full monthly payment). Potentially getting one each to tap into the 20,000 rewards bonus each.

At what point would an application be a good idea? I don't want to impact the mortgage in any way - is there a good time to do this? Do I need to wait till exchange is done?

Just after some advice on the best timings to make this work out.

Any responses appreciated!

chelseablue

I was advised not to apply for any sort of credit until after completion.


That's why the other half had to wait 6 weeks before ordering his new car :rotfl:

visidigi

Hmmm, didn't expect it to be that late in the process - we were hoping to get a lot of the furniture in within the first few weeks (which is where the initial minimum spend is needed to trigger the rewards)