Applying for a credit card after taking out a mortgage

_cbc

We've just completed on our new flat and it's time to start decorating. We've got enough cash to do it but I've been considering using a 0% card to stooze (and in case we need the cash sooner for anything). I'm confident in my abilities to not overspend and to remember to pay the card off, but my question is will the recent mortgage application affect my ability to get more credit? I don't want to go applying before getting some opinions. Is this something anyone else has done?

[Deleted User]

It will have an impact. But we can't tell you whether you'll be accepted or declined based on the info you've given or whether you stand a realistic chance of a 0% offer at all.

adindas

_cbc wrote: »

We've just completed on our new flat and it's time to start decorating. We've got enough cash to do it but I've been considering using a 0% card to stooze (and in case we need the cash sooner for anything). I'm confident in my abilities to not overspend and to remember to pay the card off, but my question is will the recent mortgage application affect my ability to get more credit? I don't want to go applying before getting some opinions. Is this something anyone else has done?

I have done that. But I wait about 2-3 months before applying. I also even applied a few more current accounts. All of that got accepted.

IMHO the reason to wait 2-3 months is that they coud see that the customers have actually payed the mortgage installment without problem at all. Also enoguth time your new address to appear in the electoral roll.

IMHO it might also be a good thing if you apply as soon as your mortgage approval have been signed (e.g. no chance to be withdrawn again). This is because it takes time before your mortgage account appear in your credit file, a month I will say (?), So If you apply immediately, apart from the credit search on the footprint from martgage no lender will see that you have a mortgage. YOu could also use still use your old address.

have not tried this, so do it with your own risk. But this method has been used sucessfully by people to apply a few credit cards simultaneously on the same day or very few gap in between.

WineDarkSea

I've just used the eligibility checker on here and it seems accurate - 80% chance for me and I got an instant acceptance, 40% for husband and he's been referred for further consideration. I don't work while my husband earns a good salary, higher rate tax payer. I suspect being accepted is more to do with having a credit card history in our case, I've had two but husband has never had one - we have a mortgage and have paid off loans and mobile phone bills etc, no bad history just a lack of credit cards.

Give the checker a try and if it's a high chance card it may be worth the risk. Try in both your name and your partners as you can get a card each in the name of the successful applicant.

LuSiVe

I applied for and got a credit card about 10 minutes after completing, but using my old address as I hadn't moved yet. What harm can it do to apply if you don't see yourself needing to apply for any other credit in the near future?

_cbc

Oh, hadn't thought about addresses. Still haven't "officially moved" most of my accounts.