Time at current address on a credit application?
Discussion
Does a credit application get looked on less favourably if you've not been at your address long? Or does it not matter as long as you can provide address history?
I'm about to apply for a credit card to transfer a balance to, but don't know whether it will be treated differently if I do it now (shortly before a house move) or once I've moved?
If I do it now I can say I've lived at my current address 5 years. If I do it in two weeks I can say I've been at my current address for less than 1 month. Does that actually make any difference as long as I provide the previous address details?
Bit of a random question I know but it's a really good offer and I want to make sure it's accepted!
I'm about to apply for a credit card to transfer a balance to, but don't know whether it will be treated differently if I do it now (shortly before a house move) or once I've moved?
If I do it now I can say I've lived at my current address 5 years. If I do it in two weeks I can say I've been at my current address for less than 1 month. Does that actually make any difference as long as I provide the previous address details?
Bit of a random question I know but it's a really good offer and I want to make sure it's accepted!
Apply for it at your current address will stand you the best chance. Part of the reason the question is there is because your credit file doesn't get updated the instant you change your address. So if you apply from your new address and it hasn't been updated yet it won't match, hence why they're asking. Ergo, if it doesn't match because your credit file hasn't caught up then the chances of getting declined increase by quite a lot, particularly if you haven't yet updated your OSIS (landline number) or electoral roll.
All that jazz said:
Apply for it at your current address will stand you the best chance. Part of the reason the question is there is because your credit file doesn't get updated the instant you change your address. So if you apply from your new address and it hasn't been updated yet it won't match, hence why they're asking. Ergo, if it doesn't match because your credit file hasn't caught up then the chances of getting declined increase by quite a lot, particularly if you haven't yet updated your OSIS (landline number) or electoral roll.
Thanks. I'd assumed that the best thing to do was squeeze the application in now before the move to be honest!Applying from your current address will massively increase your chances of being accepted, compared to having just moved.
Lenders like to see a long time at address, and you'll be on the electoral roll, on the telephone database, and with a long credit history. All these things act positively in any scorecard they might use.
Lenders like to see a long time at address, and you'll be on the electoral roll, on the telephone database, and with a long credit history. All these things act positively in any scorecard they might use.
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