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Credit Card Transfer and Mortgage
Windofchange
Posts: 1,182 Forumite
in Credit cards
Hi all - I'm sure this must have been asked before, but I can't find an answer. I am due to exchange on a house purchase using a mortgage in about 1 - 2 months time. My current 18 month 0% deal has come to an end on one of my four credit cards, and I obviously want to transfer the balance to another 0% deal. I do not need to get a new credit card to do this as 2 of my 4 cards have no outstanding amount on them, and I have a 0% offer till Nov 2021 with my barclaycard one which would be perfect.
Does anyone know if a hard credit search will be performed if I were to transfer my outstanding balance from my Virgin card onto the 0% deal I have on my Barclaycard? To repeat, I am not opening a new account but utilising a deal on an existing credit card that has a balance of £0. If it would attract a credit search, I am worried that this will impact upon my ongoing mortgage application as I know that the bank will perform another search before releasing funds. I am due to pay about £50 a month interest currently on the card where the 0% deal has ended, so keen to avoid this if possible!
Does anyone know if a hard credit search will be performed if I were to transfer my outstanding balance from my Virgin card onto the 0% deal I have on my Barclaycard? To repeat, I am not opening a new account but utilising a deal on an existing credit card that has a balance of £0. If it would attract a credit search, I am worried that this will impact upon my ongoing mortgage application as I know that the bank will perform another search before releasing funds. I am due to pay about £50 a month interest currently on the card where the 0% deal has ended, so keen to avoid this if possible!
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If you already have the cards , there are no searches.1
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