Refi and credit cards

QuestionsRefi and credit cards
asked 3 years ago

If a person is approved for a refi and cashing out a small amount of equity for improvements, at what point in the process is it safe to apply for a few credit cards, in order to bill the charges for the improvements to the new cards, then pay cards off in full with the cash out equity money?  rate is locked in at 3%, the home inspection is this week. scores 750’s. low util, only have 3 or 4 cards now.


I am guessing wait until everything is 100%, closed, signed, “cash in hand”, then make sure cards arrive in time to pay for the repairs/improvements?  The improvement companies have also stated there are no discounts for paying in cash. Seems to me like a no brainer to essentially get a free trip or two out of some repairs.



The goal is to have this refi, pay for the improvements with a few new credit cards, then the two refi applicants have separate credit cards issued from the bank doing the refi, plus also have a home equity line of credit attached to their checking / savings for any possible future unexpected home expenses.  I was promised that this could all be done with with a small chance of only 1 extra hard inquiry per person (for the CU CC’s and HELOC).


I am thinking they should app for the CU credit cards plus HELOC first, then the other cards after. The question is when. Any insights here, pros, cons, added advice greatly appreciated! Thanks!

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