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  • FIRST POST
    • tain
    • By tain 13th Mar 17, 3:04 PM
    • 406Posts
    • 563Thanks
    tain
    Should I stop using my credit card prior to a mortgage application?
    • #1
    • 13th Mar 17, 3:04 PM
    Should I stop using my credit card prior to a mortgage application? 13th Mar 17 at 3:04 PM
    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?
Page 1
    • jozxyqk
    • By jozxyqk 13th Mar 17, 3:09 PM
    • 114 Posts
    • 148 Thanks
    jozxyqk
    • #2
    • 13th Mar 17, 3:09 PM
    • #2
    • 13th Mar 17, 3:09 PM
    I think as long as you're paying it off in full there is no issue. You have to pay for it somehow.
    "I love deadlines. I love the whooshing noise they make as they go by."
    • Hayleigh_Scotland
    • By Hayleigh_Scotland 13th Mar 17, 3:11 PM
    • 4 Posts
    • 2 Thanks
    Hayleigh_Scotland
    • #3
    • 13th Mar 17, 3:11 PM
    • #3
    • 13th Mar 17, 3:11 PM
    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.

    • kingstreet
    • By kingstreet 13th Mar 17, 3:36 PM
    • 30,913 Posts
    • 16,471 Thanks
    kingstreet
    • #4
    • 13th Mar 17, 3:36 PM
    • #4
    • 13th Mar 17, 3:36 PM
    Stability is key.

    Carry on doing what you have been.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • tain
    • By tain 13th Mar 17, 3:42 PM
    • 406 Posts
    • 563 Thanks
    tain
    • #5
    • 13th Mar 17, 3:42 PM
    • #5
    • 13th Mar 17, 3:42 PM
    Cheers folks! Good to know I've been doing the right thing! :-D
    • tain
    • By tain 13th Mar 17, 3:44 PM
    • 406 Posts
    • 563 Thanks
    tain
    • #6
    • 13th Mar 17, 3:44 PM
    • #6
    • 13th Mar 17, 3:44 PM
    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!
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