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swapping to zero %
addverbaan
Posts: 132 Forumite
in Credit cards
Hi. Hoping for some advice please.
I will be making a mortgage application in around January/February. I currently have an aqua cc which will be paid off by then, but which has a shocking interest rate. I have the chance to get a zero %Halifax cc to transfer the balance.
Normally I wouldn't hesitate, however I have read its best to make no new credit applications so close to mortgage application. I've also read that having a card for long time which has been run well, is better then having a new card with little history, when it comes to mortgage approval.
So, would it be better to stay or switch given this? I've worked hard to build myself to a good credit rating and don't want to make a wrong step now.
Thanks
I will be making a mortgage application in around January/February. I currently have an aqua cc which will be paid off by then, but which has a shocking interest rate. I have the chance to get a zero %Halifax cc to transfer the balance.
Normally I wouldn't hesitate, however I have read its best to make no new credit applications so close to mortgage application. I've also read that having a card for long time which has been run well, is better then having a new card with little history, when it comes to mortgage approval.
So, would it be better to stay or switch given this? I've worked hard to build myself to a good credit rating and don't want to make a wrong step now.
Thanks
Newbie as of 31st December 2015 - here's to beginners luck!:DBest wins so far, won £1000 on two occasions:)
0
Comments
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How much interest are you actually talking about? Shocking rates aren't too shocking on small balances.
If you do apply for another card, there's no need or reason to close the aqua one.0 -
I'd leave well alone and not making any new applications this close to a mortgage application. You aren't going to save that much in a few months - just pay off as much as you can, as soon as you can.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Closed as duplicate of one in the mortgages boardI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0
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