Another question about Tesco mortgage (sorry)

Tryingtomoveout

Hi

Sorry I am not sure whether I should have linked this to my previous thread?

Basically, I am wondering whether applying for a Tesco credit card (using it for 6 months and paying the balance off in full each month) is likely to improve my chances of being approved for a mortgage by Tescobank.

In general terms, is spending on a credit card and paying it off in full every month a good way of improving my credit rating?

Thank you so much for any answers

ACG

I dont think (going off your signature) you have an issue showing your credit worthiness its either good or it isnt based on your past history. Getting a credit card now for 6 months is unlikely to have a drastic effect one way or the other.

Tryingtomoveout

Hi

I have had a credit card for about 6 months (barclaycarf) and always paid in full, I've also had loans for about 2 years and never missed a payment...however I've gone over my overdraft quite a few times in the Last few years and so I worry this has effected my rating badly

ACG

Is it showing on your credit report(s)?

Tryingtomoveout

Im not too sure....I will order my report and see

Westminster

Is your overdraft agreement £2000, or are you regularly £2000 overdrawn?

Tryingtomoveout

My overdraft is 2000 interest free on a graduate account..I'm usually most of the way into by the end of the month...although I'm on a snowball plan now and will have all loan debts an od debts paid off in 5 months if I stick to it....So wouldnt apply for a mortgage until after then

amnblog

Tesco are best for beans.

Thrugelmir

Tryingtomoveout wrote: »

My overdraft is 2000 interest free on a graduate account..I'm usually most of the way into by the end of the month...although I'm on a snowball plan now and will have all loan debts an od debts paid off in 5 months if I stick to it....So wouldnt apply for a mortgage until after then

Use your savings to clear the overdraft.