Credit card application before mortgage application

grantbunyan

So, having just finished an IVA and needing to find somewhere to live in the next two/three months, I am looking at potentially trying for a mortgage if the credit file is clear in time. Fingers crossed it will be as it was over 6yrs ago and I have my completion certificate.

Anyway, on to the actual question. As my credit score is limited given the lack of credit accounts on my file, would it hurt me to take out a credit card in the run up to a mortgage application? Hoping to go for one in the next 2 months.

[Deleted User]

It's a little late for it to do much good, but then I doubt you'll complete on a mortgage in that short a timescale, even if it's possible to get one.

If your history is thin, I would get a card and build for the future, as long as you know how to use it properly.

masemase100

Hi there, new member and poster. Came out of an IVA in 2018 and dropped off file early 19. I disclosed my IVA situation with my high street bank who i applied for a mortgage with and it was not a problem at all. He was so understanding and just tweaked things to fit. Long story short i got my mortgage offer through post yesterday, planned completion date of aug 9. First time buyer buying alone. Let nothing get in your way!

masemase100

Just to add on to that, i applied for a credit card 4 months after the 5year IVA mark ended and it helped me no end. I have a credit score of 981 out of 999. So easy if you have learned from your mistakes!

[Deleted User]

Although your score played no part in the lending process or it’s decisions