Will a new credit card affect a remortgage application?

mikeedwilson

Hello!
I was thinking about taking advantage of one of the 0% credit cards to shift the balance of my current credit card to get it cleared. I would close my current credit card once the balance transfer was completed so I would still only have one credit card. I know a human would see this as managing the debt better as I also have the plan to pay what I'm currently paying each month which will clear it on 0% within a 18 months or so. 
What is stopping me is that my wife and I are applying for a mortgage increase to do some work on our house. By applying for the credit card before the mortgage application, will this affect approval? Should I wait until the mortgage application is sorted, or will it make no difference?
Thanks! 

daivid

I would (and did) wait until after the mortgage is completed. Is it necessary I don't know, but getting the mortgage through was more important than getting a new 0% deal for me (and I had a few months before the current deal ran out). I have been told in the past that having lots (how many is this?!) of recent (full not soft) searches on your credit file looks bad so should be avoided in the run up/process of getting a mortgage. Whether the mortgage broker that told me this knew it for fact or not I do not know. You may be better off asking in the 'Mortgages and endowments' section of the forum if no one here can tell you for sure.

D3xt3r5L4b

You shouldn’t really apply for any new credit leading upto a mortgage or re-mortgage. 

[Deleted User]

mikeedwilson said: I would close my current credit card once the balance transfer was completed so I would still only have one credit card. I know a human would see this as managing the debt better

Don't close your old card when or if you do get a new one.

A human - and his algorithms - will see you as higher risk if your credit options are being limited.

mikeedwilson

Thanks all. Will hold fire until the mortgage extension is sorted