If you’re getting ready to apply for a mortgage and feeling unsure about your credit score, you’re not alone. One of the most common questions I get from clients is, “Zita, my score is only around 700 — should I take out a credit card to boost it?”
I get it. It’s natural to want to do something proactive before your mortgage application, but taking out a new credit card isn’t always the right move. In fact, it could actually do more harm than good in the short term.
Should You Take Out a Credit Card Before a Mortgage?
My honest advice is usually no. If you’re close to applying for a mortgage, opening a new line of credit may lower your score slightly at first due to the credit check. And unless you have the time and discipline to use that card very carefully over a long period, it probably won’t help enough to make a real difference.
Instead, there’s a better, safer way to try and improve your credit profile before submitting a mortgage application, especially if you’re putting down a smaller deposit, like 5% or 10%, where your credit score really matters.
What Is Experian Boost and How Can It Help?
Experian Boost is a free tool that can potentially give your credit score a helpful nudge, without applying for any new credit.
Here’s how it works:
- You securely connect your current account to Experian.
- They analyse up to 12 months of your financial behaviour.
- Things like paying your council tax, utility bills, subscriptions, and putting money into savings accounts can all count in your favour.
This gives lenders a better picture of how you manage your finances day-to-day, which can help boost your credit score slightly. While the increase may be small, every little bit can make a difference, particularly if you’re applying for a high loan-to-value mortgage.
I’ve had many clients use Experian Boost successfully. It’s simple, safe, free, and it could improve your chances of getting the best mortgage rate available to you.
A Stronger Application Without Added Risk
Before you apply for a mortgage or a Decision in Principle, it’s a good idea to understand how lenders might view your credit profile. Small improvements like those from Experian Boost can strengthen your case, without the potential downsides of taking on new credit.
And if you’re unsure where to start, I’d be happy to help guide you through the process.
Watch my video here for a quick overview, and if you’re concerned about your credit score or want some tailored advice, get in touch. We can look at your full situation and build a plan that gets you mortgage ready, without unnecessary risks.
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