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  • FIRST POST
    • Oscartwiglet
    • By Oscartwiglet 6th Jan 18, 12:09 PM
    • 13Posts
    • 1Thanks
    Oscartwiglet
    Help needed on credit card/mortgage
    • #1
    • 6th Jan 18, 12:09 PM
    Help needed on credit card/mortgage 6th Jan 18 at 12:09 PM
    Hi all. Hoping some wise folk on here can help.

    Last year I took out a 0% credit card offer, as we were getting married and I thought it would be good to put the honeymoon on there and pay it back interest free.

    Annoyingly, some money came out which I wasn't expecting which went over the credit limit by about £60. As soon as I realised, I paid off £1,000 to cover it, and bring it way back down under the limit.

    However, I have now lost the 0% offer which is annoying, I've called them and they can't do anything.

    Now the second part of this is that husband and I will likely be looking for a new mortgage soon to buy a bigger house. I am therefore thinking it's not a good idea to move this debt to a new 0% card is it?

    Will the fact we went over the limit impact my credit rating?
Page 1
    • Dobbibill
    • By Dobbibill 6th Jan 18, 12:22 PM
    • 2,645 Posts
    • 3,744 Thanks
    Dobbibill
    • #2
    • 6th Jan 18, 12:22 PM
    • #2
    • 6th Jan 18, 12:22 PM
    When are you looking to apply for a mortgage?

    Whether or not it will be reported to the CRAs will depend on
    a)when they report and
    b) how quickly you brought it back within the limit.

    It's a shame they aren't able to reinstate the 0% offer as it's often reported that this is the case for a first offence.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    A person who never made a mistake, never tried anything new.
    • zx81
    • By zx81 6th Jan 18, 12:44 PM
    • 14,880 Posts
    • 15,705 Thanks
    zx81
    • #3
    • 6th Jan 18, 12:44 PM
    • #3
    • 6th Jan 18, 12:44 PM
    I am therefore thinking it's not a good idea to move this debt to a new 0% card is it?
    Originally posted by Oscartwiglet
    It would be a much better idea than continuing to pay interest on it.
    • Oscartwiglet
    • By Oscartwiglet 6th Jan 18, 1:19 PM
    • 13 Posts
    • 1 Thanks
    Oscartwiglet
    • #4
    • 6th Jan 18, 1:19 PM
    • #4
    • 6th Jan 18, 1:19 PM
    It would be a much better idea than continuing to pay interest on it.
    Originally posted by zx81
    Did you read my whole post?
    • Oscartwiglet
    • By Oscartwiglet 6th Jan 18, 1:20 PM
    • 13 Posts
    • 1 Thanks
    Oscartwiglet
    • #5
    • 6th Jan 18, 1:20 PM
    • #5
    • 6th Jan 18, 1:20 PM
    When are you looking to apply for a mortgage?

    Whether or not it will be reported to the CRAs will depend on
    a)when they report and
    b) how quickly you brought it back within the limit.

    It's a shame they aren't able to reinstate the 0% offer as it's often reported that this is the case for a first offence.
    Originally posted by Dobbibill
    Probably around April/May.
    I brought it back within the limit within a couple of days!
    How can I find out whether they report it?
    • Dobbibill
    • By Dobbibill 6th Jan 18, 2:02 PM
    • 2,645 Posts
    • 3,744 Thanks
    Dobbibill
    • #6
    • 6th Jan 18, 2:02 PM
    • #6
    • 6th Jan 18, 2:02 PM
    Check your credit report with the 3 main CRAs.

    Experian can be done free through MSE Credit Club.
    Equifax through Clearscore.
    Call Credit through Noddle.

    Always check the data that is collated rather than the score.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    A person who never made a mistake, never tried anything new.
    • zx81
    • By zx81 6th Jan 18, 2:05 PM
    • 14,880 Posts
    • 15,705 Thanks
    zx81
    • #7
    • 6th Jan 18, 2:05 PM
    • #7
    • 6th Jan 18, 2:05 PM
    Did you read my whole post?
    Originally posted by Oscartwiglet
    Absolutely.
    • Oscartwiglet
    • By Oscartwiglet 6th Jan 18, 2:18 PM
    • 13 Posts
    • 1 Thanks
    Oscartwiglet
    • #8
    • 6th Jan 18, 2:18 PM
    • #8
    • 6th Jan 18, 2:18 PM
    Check your credit report with the 3 main CRAs.

    Experian can be done free through MSE Credit Club.
    Equifax through Clearscore.
    Call Credit through Noddle.

    Always check the data that is collated rather than the score.
    Originally posted by Dobbibill
    Thanks. Just did it through MSE Credit Club and Experian results suggest I have nothing to worry about.
    • Dobbibill
    • By Dobbibill 6th Jan 18, 2:31 PM
    • 2,645 Posts
    • 3,744 Thanks
    Dobbibill
    • #9
    • 6th Jan 18, 2:31 PM
    • #9
    • 6th Jan 18, 2:31 PM
    Thanks. Just did it through MSE Credit Club and Experian results suggest I have nothing to worry about.
    Originally posted by Oscartwiglet
    Do all 3 - they are all free and can report different data from different sources.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    A person who never made a mistake, never tried anything new.
    • YorkshireBoy
    • By YorkshireBoy 6th Jan 18, 2:50 PM
    • 29,665 Posts
    • 17,623 Thanks
    YorkshireBoy
    ...Experian results suggest I have nothing to worry about.
    Originally posted by Oscartwiglet
    Before you get too excited you should know that it can take 2-3 months for lenders to update the CRAs. So if the breach was recent (and your OP suggests it was), your file may not be up to date.
    • Oscartwiglet
    • By Oscartwiglet 6th Jan 18, 2:57 PM
    • 13 Posts
    • 1 Thanks
    Oscartwiglet
    Before you get too excited you should know that it can take 2-3 months for lenders to update the CRAs. So if the breach was recent (and your OP suggests it was), your file may not be up to date.
    Originally posted by YorkshireBoy
    I'll check next month too, it was in November so it's been a couple of months already. Apart from that though I have a flawless record and so does my husband, so trying not to panic too much.
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