How long after new mortgage should you wait before applying for new cards?

Discussion in 'General Discussion | Miles/Points' started by servo, Oct 10, 2012.  |  Print Topic

  1. servo

    servo Silver Member

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    After telling a basketball buddy of mine about the AA cards and others I've signed up for, I have him interested in pursuing the same, but he recently bought a new house. Considering he has excellent credit and no debt issues (he owns 2 rental properties, but I think only 1 has a mortgage on it as well), when should he be safe to start applying for credit card offers? 3-6 months or longer?
     
  2. NYBanker
    Original Member

    NYBanker Gold Member

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    If the mortgage he was applying for is closed and funded, I'd do the apps right away. The issue is making sure you don't stuff up a loan you need for the points signal bonuses....the other way around isn't much of a risk. If they get turned down, call the reconsideration line and say they need some money for furniture for the new house!
     
  3. Slow_Mustang
    Original Member

    Slow_Mustang Silver Member

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    I thought the unsecured loans, like the CCs and the secured loans, like home mortgage or a car loan are viewed separately. If that is true, then taking out a mortgage loan should have no bearing on applying for a CC???
     
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  4. aviator8

    aviator8 Silver Member

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    I refinanced 3 weeks ago, and did an apporama 1 week ago. No issues.
     
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  5. PedroNY
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    PedroNY Silver Member

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    Same here, we each (Mrs. PedroNY and I) applied for about 5 credit cards a day after we closed on the house. We didn't apply for any credit cards for about 9 to 12 months leading up to our purchase, we both had FICO scores over 760 and were able to get best mortgage rate at that time. This was in 2010, but I would imagine the landscape has not changed all that much.

    Cheers,

    PedroNY
     
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  6. servo

    servo Silver Member

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    Thanks for all the feedback - I will let him know.
     

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