We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Credit Card after a recent mortgage
sketchyworld
Posts: 1 Newbie
in Credit cards
All
My partner and I completed on a house in early July, and hence still have a relatively new mortgage. I have some money on a credit card that I'd now like to switch to a 0% balance transfer card but I am a bit nervous about the impact of the mortgage on my credit rating. I thought I'd leave a window to ensure addresses are all up to date on my credit file etc, but I don't know how long of a window I need especially given all the new direct debits etc are going on my credit file at the moment. Is anyone able to advise?
Historically I've had a very good credit rating - never missed any payments etc. A secondary concern I have is that I heard under the new lending criteria you can be penalised for using more than 50% of your available credit (which I am) - does anyone know more on this?
Thanks so much for your time.
Yours,
Sketch
My partner and I completed on a house in early July, and hence still have a relatively new mortgage. I have some money on a credit card that I'd now like to switch to a 0% balance transfer card but I am a bit nervous about the impact of the mortgage on my credit rating. I thought I'd leave a window to ensure addresses are all up to date on my credit file etc, but I don't know how long of a window I need especially given all the new direct debits etc are going on my credit file at the moment. Is anyone able to advise?
Historically I've had a very good credit rating - never missed any payments etc. A secondary concern I have is that I heard under the new lending criteria you can be penalised for using more than 50% of your available credit (which I am) - does anyone know more on this?
Thanks so much for your time.
Yours,
Sketch
0
Comments
-
How close to the maximum you could have borrowed for the mortgage?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.2K Banking & Borrowing
- 254K Reduce Debt & Boost Income
- 454.9K Spending & Discounts
- 246.3K Work, Benefits & Business
- 602.4K Mortgages, Homes & Bills
- 177.9K Life & Family
- 260.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards