Applying for a Credit Card before Remortgage

Danny30

I am looking to Remortgage shortly as my current 5 year deal ends in April. I can see that my credit score has lowered a lot due to my debt to credit card ratio utilisation being more than 50% of my limit (due to me closing another credit card a few months ago).

I wanted to ask if I should apply for a new credit card so that my debt to credit ratio on my cards goes below 50%, or would applying for a credit card now do more harm than good?

fatbelly

Paying off the more expensive credit card debt might work

Danny30

fatbelly said:

Paying off the more expensive credit card debt might work

Yes, but I would prefer to pay minimum payments for now. 

kingstreet

Are you remortgaing (that's a new mortgage with a new lender) or looking for a customer retention product from your existing lender? If it's the latter, no checks will be conducted.

If you are remortgaging, do not have any hard credit searches in the run-up to an application and scores are mostly meaningless, with loan to value; and hence the risk to the lender being much more relevant.