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Wanting to get a 0% interest credit card.. completing house purchase on Friday

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Wanting to get a 0% interest credit card.. completing house purchase on Friday

edited 30 November -1 at 12:00AM in Credit Cards
5 replies 615 views
PantobabePantobabe Forumite
23 posts
edited 30 November -1 at 12:00AM in Credit Cards
Hello,

As the thread title says, we are completing on our new build this Friday (20th July). We have had our mortgage offer since January and doesn’t expire until the end of September so as far as solicitors have said, everything is on task to run smoothly for Friday.

We are hoping to get a 0% on purchases for 30 months credit card (as found on here) to put our biggest purchases (bed/tables etc) on and then pay them off over the next 10 months as we just don’t have the spare cash right now- the extras added on to the new build for practically everything have seen to that! I do have a credit card currently but it has a high interest rate as I pay it off in full every month.

My question is, when can I apply for this credit card to ensure it won’t affect the mortgage? Am I ok to do it now as we have our mortgage offer all sorted, or do I have to wait until we physically have the keys and have completed? We want to order furniture but need this credit card to do this but I also don’t want to ruin my credit rating at the 11th hour meaning the mortgage won’t go through!

Thanks in advance

Replies

  • [Deleted User][Deleted User] Forumite
    0 posts
    MoneySaving Newbie
    You’re current card won’t have a high interest rate because you pay in full each month.

    Anyways have you tried and eligibility checker to see what you may be able to get?
  • PantobabePantobabe Forumite
    23 posts
    Hi gary,

    Yes I do pay in full every month at the moment. However, the credit card I want to get we wouldn’t pay off in full every month, it will take us around 10 months to pay it off as we will be putting approx £2,000 of furniture on there, hence why we want the 0% on purchases for 12 mo the sort of credit card.

    I have done the eligibility checks for various cards which say I would be able to get a wide range. However, I don’t want to jeopardise my mortgage completing on Friday- that’s why I’m wondering when the best time to apply would be.

    Thanks
  • stevenhp1987stevenhp1987 Forumite
    907 posts
    Part of the Furniture
    ✭✭✭
    I wouldn't think of applying for new credit until after completion as it could affect your mortgage offer (affordability).
  • cjvcjv Forumite
    511 posts
    Third Anniversary 100 Posts Newshound!
    ✭✭
    Wait until you get your keys, as you won't need your furniture until then and why risk it!

    Nothing stopping you shopping around and drawing up your list of goodies you want to buy after you move in, you have the benefit of taking your time to ensure you find the best prices possible and I am sure you will have lot's of fun doing it!.:D
  • dld2sdld2s Forumite
    432 posts
    Part of the Furniture 100 Posts Combo Breaker Uniform Washer
    ✭✭
    My daughter is in the same position as yourself ATM, she has been warned by her FA not to take any debt out at all until she has completion
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