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    • confused0376
    • By confused0376 6th Mar 18, 10:44 PM
    • 6Posts
    • 0Thanks
    credit card application and mortgage
    • #1
    • 6th Mar 18, 10:44 PM
    credit card application and mortgage 6th Mar 18 at 10:44 PM
    Looking for a bit of clarification. I currently have Capital One credit card, balance 1400, credit limit 2000. I want to move it to a lower interest card, (I havent used it in over a year but monthly payments hardly touch reducing the balance). If I move it and pay the same each month on a no interest balance transfer, it will be paid off in around 10 months with a bit of an increase in monthly payments. Staying with Capital One it will take near 7 years to do the same! But I am hoping to move house soon, in the next few months. Will taking a new card and cancelling the capital one card affect applying for new mortgage? (I've held a mortgage for 15 years already so not first time buyer). Not sure if its better to keep high interest or change to low interest, because of mortgage application.
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    • venison
    • By venison 6th Mar 18, 10:57 PM
    • 1,769 Posts
    • 1,886 Thanks
    • #2
    • 6th Mar 18, 10:57 PM
    • #2
    • 6th Mar 18, 10:57 PM
    If its a few months off then should be ok, if you get the 0% card and pay half the balance in 5 months.
    I am a BG on loans,credit cards and benefits I volunteer to help get your forum questions answered and keep the forum running smoothly". Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to Any views are mine and not the official line of
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