Closing credit cards - how long before it reaches credit report?

Pointybird

Is there any way I can speed up the process of getting Experian et al to register the fact that I've closed a credit card?

I'm trying to get a mortgage and until my card debt is at 0 on my credit report, they won't agree to the application. I've just paid off all my debts this evening - is there anyone I should be harassing to get my report updated? I don't think I can wait 6 weeks before the debt clearance reaches Experian - I suspect the people waiting to exchange contracts will give up on me by then!

Any tips gratefully received.

Cheers.

LeeSouthEast

Usually 4-8 weeks from the point of settlement. Take the "final statements" with you as proof. They will be aware your credit report lags behind.

never-in-doubt

LeeSouthEast wrote: »

Usually 4-8 weeks from the point of settlement. Take the "final statements" with you as proof. They will be aware your credit report lags behind.

I agree - if you take the statements this will confirm the £0 balance, however with a mortgage they usually deduct the outstanding blanace from the payment so I don't see why they want to seeit showing £0 cos you could still run it up again!

Usuaully, assume you owed £1,000 they would figure that you have to pay £25p/m back so they would reduce your income by the same amount. I cannot see why they insist on there being a £0 balance

But, a copy of your statement will suffice.

Pointybird

Thanks for the replies!

Sadly they won't accept the statements in case I re use the card. It HAS to be on the credit report. Obviously, if it takes too long I run the risk of annoying the sellers so this whole thing could be a disaster.

This is YBS - they're the only building society I've come across who have this particular sticking point.

lisyloo

Why not go to another lender then?
Have you already paid them fees? e.g. survey, application etc.

asharon

Couldn't you ask the cc company to send you a letter confriming the account has been closed ?

lisyloo

No, I don't think there is anyway to get the CRAs to speeed up (or the lenders supplying them the information).
You can only ensure the lenders have the correct information.

stella2009

I would talk nicely to the credit card company. If they are helpful and willing they can make the change manually and it will be reflected the following day on your report.