AusFinance

993 readers

8 users here now

founded 1 year ago

MODERATORS

[email protected]

Getting a credit card after getting mortgage? is that possible? (lemmy.world)

submitted 1 year ago by [email protected] to c/[email protected]

11 comments fedilink hide all child comments

Should it be done at all? Or how long should one wait for before getting credit card when having a existing mortgage?

FYI:

we are here in NSW
getting credit card only to take advantage of the points and convenience in some case, not a necessity

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 2 points 1 year ago

You don't have to close it but when then calculate what you can repay, they assume you may max out all other lines of credit as well and have to repay that too, so closing a credit card (especially a large one) can add 10's of thousands of dollars to your borrow limit.

permalink
fedilink
source
parent