Is it a bad idea to apply for a credit card while in the middle of a mortgage refinancing process?
July 12th, 2009 by Lenny
I have a high credit score (760), and was approved for my bank’s best rate. The refinancing process is taking awhile, and I would like to get a better rewards card than what I have. Would it be a bad idea to apply for a new credit card before the refinancing closes?
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Tags: bad idea, credit card, credit score, new credit, refinancing, rewards
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I wouldn’t think so. Your credit is already strong, so it’s not like they look at you as a ‘borderline’ credit risk. Any pings on your credit score from the lookups the CC company or mortgage company would do should be minimal. Again, since you’re not on the borderline, I don’t think it would drop your score into a lower level.
But then again, it seems like the banks are looking for any excuse these days, so who knows lol
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