Personal Finance

Does a New Mortgage Affect Credit Card Applications?

  • Last Updated:
  • Jan 14th, 2019 11:20 am
[OP]
Newbie
Mar 4, 2018
51 posts
34 upvotes

Does a New Mortgage Affect Credit Card Applications?

I am currently in the process of obtaining a mortgage.
Everything is approved (by BNS) and ready to go. We are just waiting for the house to close (in 3 weeks).

At the same time, I am looking to apply for Roger's WE MC.

Will applying for a MC affect my application for the mortgage (or vice versa)?
My current credit score (transunion) is 820 and priority is obviously to secure the mortgage.
I currently have two CC's in good standing and when approved for Roger's, I will cancel one of my current cards.

Should I apply for the MC before or after my house closes?
Frugal Fries - but en français
4 replies
Deal Expert
Aug 22, 2011
24495 posts
10831 upvotes
Ottawa
You'll be fine.
Unless you had several hard pulls back to back, a single hard pull from BNS for your mortgage application will not raise any concerns with Rogers.
[OP]
Newbie
Mar 4, 2018
51 posts
34 upvotes
vkizzle wrote:
Jan 14th, 2019 10:07 am
You'll be fine.
Unless you had several hard pulls back to back, a single hard pull from BNS for your mortgage application will not raise any concerns with Rogers.
Thank you for the feedback. So if I understood you correctly, it doesn't matter if I apply for the MC before or after closing?
Frugal Fries - but en français
Newbie
Feb 9, 2018
91 posts
48 upvotes
You can wait for mortgage to close if you want to be absolutely safe but as other user pointed out, it shouldn't really matter with your credit score. You can apply for Rogers WE before closing as well.
Deal Expert
Aug 22, 2011
24495 posts
10831 upvotes
Ottawa
FrugalFrites wrote:
Jan 14th, 2019 10:10 am
Thank you for the feedback. So if I understood you correctly, it doesn't matter if I apply for the MC before or after closing?
I'm assuming you don't have any collections or proposals on your report with that 820 score...so you should be good to go.

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