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Should I stop using my credit card prior to a mortgage application? tain

Posted: Sat Mar 11, 2017 12:40 pm
by mmmmorshu
I've been using my credit card every month to pay for my travelcard for work. I pay my card off in full, and I only do it so I'm using some of my available credit, which I understood to be a positive thing.

Now I'm entering into the last ~6 months before applying for a mortgage, should I stop doing this?

I'm concerned that using my credit card might be conceived as a negative on the affordability checks criteria, which would outweigh any benefit of using available credit.

Or would it make no difference as it's only £200 odd a month?

Posted: Sun Mar 12, 2017 1:16 am
by Simonliketoplay
I think as long as you're paying it off in full there is no issue. You have to pay for it somehow.

Posted: Sun Mar 12, 2017 5:28 am
by swee
We've just been approved for our first mortgage and we regularly used our credit card for things like petrol, an asda shop etc. then we always paid it off at the end of each month. Use of our credit card created no problems in securing a mortgage.

Posted: Sun Mar 12, 2017 6:43 pm
by fe
Stability is key.

Carry on doing what you have been.

Posted: Mon Mar 13, 2017 1:13 am
by mmmmorshu
Cheers folks! Good to know I've been doing the right thing! :-D

Posted: Mon Mar 13, 2017 3:44 pm
by mmmmorshu
On a very similar note - these affordability checks really put the willies up you. I wish there were proper guidelines, but from what I've read, every bank is different!