Applying for credit card just after moving home

UKTelecom

I did try searching for this topic as I thought it would be a common idea people have: I am a FTB and would ideally like to use a new 0% purchase credit card to help with buying everything for my new home, after I move in - rather than eat into my (now considerably smaller!) savings.

The search results differ in advice: one thought is to leave it a month after registering yourself/the property on the electoral role, then apply. Which to be honest would not work for my intentions as I again plan to use the card to buy many of the immediate 'new house' necessities (washer, beds, TV etc).

The other shout is to just apply for the new credit card using your old address - my parent's address for me. Which again this is either met with people saying this is fraud / deception (I am not arguing with this) - or people do not bat an eyelid doing this.

Again I probably can get by not having a new 0% credit card - its just depressing seeing my savings now much smaller following the house purchase going in at a higher deposit level, and then seeing it get smaller again by purchasing all this other stuff. I feel the process financially would be easier to swallow with a new credit card.

My credit score is otherwise very good and I would be very confident of being accepted on application.

Any advice? What would you do?

[Deleted User]

Whatever you do, don't make any application until you have completed.

You could risk using your parent's address. The disparity probably wouldn't be picked up, but the consequences could be significant if it was.

Personally, I would make an application once you are in your new home, using those details.

Remember your credit score is irrelevant when it comes to applying for credit. The new mortgage could be the biggest issue in getting new credit, regardless of any score you are given - you will face this problem whichever address you use.

UKTelecom

Deleted_User wrote: »

Whatever you do, don't make any application until you have completed.

You could risk using your parent's address. The disparity probably wouldn't be picked up, but the consequences could be significant if it was.

Personally, I would make an application once you are in your new home, using those details.

Remember your credit score is irrelevant when it comes to applying for credit. The new mortgage could be the biggest issue in getting new credit, regardless of any score you are given - you will face this problem whichever address you use.

Thank you - yes good call on not applying before completion. As mentioned I have searched this topic and this seems to be rule number 1, which I will obviously follow.

Just to clarify did you say that you personally would make the application once moved in, using the new address details? Or take the risk using parent's address?

[Deleted User]

I'd use the new address details.

UKTelecom

Deleted_User wrote: »

I'd use the new address details.

Interesting thanks. I will have a think - certainly would be interested to know what these potential significant consequences are for using the old address. As mentioned many posters on here do not seem to bat an eyelid at taking such a risk!

UKTelecom

Sorry to resurrect this but just a quick one. I have now exchanged contracts (yay) and complete on Wednesday.

I am still not intending to apply for new credit before then don't worry! But I have seen a sweet deal on the TV I have been eyeing up for months, and I am not sure how long the deal will hang around.

Would using the existing credit card I have to purchase the TV be OK? The purchase would be well within my limit for that card, but still quite substantial (about a grand, its awesome though!).

I intend to then transfer that credit card balance to a new 0% card that I will have applied for, post completion.

I have once again googled this and once again reference is made to not applying for new credit before completion but some people also say do not use credit cards full stop, even existing credit cards - I am not sure if there is some confusion here.

YorkshireBoy

At this time of year (during the annual canvas of electors) I believe the CRA ER updates are suspended, so the CRAs won't show you on the ER at your new address until December, and possibly even January.

Just something to bear in mind if/when you make any application.

If you can't get a BT card can you settle the £1K CC bill from savings?

UKTelecom

YorkshireBoy wrote: »

At this time of year (during the annual canvas of electors) I believe the CRA ER updates are suspended, so the CRAs won't show you on the ER at your new address until December, and possibly even January.

Just something to bear in mind if/when you make any application.

If you can't get a BT card can you settle the £1K CC bill from savings?

thank you. Yes I could afford to settle the £1K CC bill from savings if that were to happen.

I am thinking of taking the risk and just applying using my parents address to be honest.

I have looked at the relevant application and it just asks for current address. Which technically that will be my parents address at the time of application. Or I could just say I thought it meant correspondence address or something.

This is all if they clock on and query it which I highly doubt they will. I think there is enough plausible deniability for me to work with.

I know this will not be condoned or recommended on here!