How long should I wait?

Harvey's_Dad wrote:

Hi,

I'm a prospective new stoozer. However, I've recently moved and got a mortgage. I've read on stoozing.com that this will make it difficult to gain credit.

How long should I wait before applying for a Virgin credit card?

Any advice appreciated.

Whereabouts did you read that on the site - in the site's own content or in the forums ? I wrote the main stoozing guide and don't recall saying precisely that but it may be broadly true. The stoozing guide certainly says that it is adviseable to stop stoozing if you are about to apply for a mortgage because your stoozing debts may mean that you get a lower mortgage offer.

Looking at it the other way round. Probably the main effect of moving and taking on a mortgage is that you won't be on the voters' roll yet at the new address and seeing your name on the voters' roll at the address you say you are living at is one of the things that make lenders feel more confident that you are who you say you are. So, ensure that you get on the voters' roll ASAP.

Of course, if your new mortgage has significantly added to your debt, then future lenders will see that. It may not stop them lending to you depending on how good you credit record was in the first place and what income etc you have.

Clariman

Harvey's_Dad wrote:

Hi Clariman,

It makes the statement at the of the bottom of the following page: http://www.stoozing.com/cra.htm

It's a good point that you make about the electoral register, but usually I wait for the council to send the relevant forms around the time of the local/general elections; do you know if there's a particular department you write to if you want to sort it out earlier?

Hi

Go to your relevant local councils website , there will be a contact number for their electorol dept on there , were in bedfordshire and there is a dedicated dept for it , i think they will onlt take new registraitions at certain times of the year tho so youll have to check

H
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