New Homeowner Credit Card Application

hurleyrich

Hi all,

I have recently just bought a flat with my partner and we were looking to apply for a 0% Credit Card to put our joint monthly bills and purchases on it (shopping, holidays, etc.).

I went onto the MSE credit card eligibility check (through the MSE Credit Club) and can only get a 50% chance of getting a good 0% credit card.

When I changed my details back, to being in rented accommodation though, I had a 100% chance of getting a number of good 0% credit cards.

Can anyone explain why, now that I'm a homeowner, I have significantly less chance of getting a 0% purchase credit card?

Thanks!

ForeverAwake

You've just took on your biggest financial commitment, I would imagine most lenders would like to see how you're going to manage it

After 6-12 months of on time payments, it will start going in your favour, and the mortgage repayments will help strengthen your financial history, so you'd be in a better position for the 0% cards after some time

ndf9876

Hi there,

I did the same thing recently and although I'm no expert, I would suggest it is to do with your presence on the electoral roll.

As soon as the purchase of our property completed and I had the keys in my hands, I applied for a 0% BT card and my partner for a 0% purchase card. I used the details of my old rented property because I was still technically living there (there was about a week overlap of me moving out of rented and into our house). We had no problems in being accepted for the deals we applied for.

How long ago did you move? Once you are on the electoral roll, I would suspect your chances may well increase.

[Deleted User]

OP are you on the electoral register at your new address yet? Also agree that having taken on a mortgage you need to give yourself 6 months at least before trying to get a decent CC deal.

hurleyrich

Thanks everyone for your help.

I think we’re on the electoral register now but I guess waiting for a bit until we’ve made some mortgage payments would probably help too!