Using credit card during mortgage application

soapstar88

Hi,

Easy question which will help me greatly! Our mortgage has recently went to the application stage and hopefully should go to offer by next week. Would using a credit card this week (£500 from a 4k limit for example) have a negative impact on the application? I'm really paranoid I do something wrong!

Thanks for any help!

stator

They will run your credit report and if it shows on the report it might have a small effect on their calculations.

MrDebtWarrior

I stuck our new build reservation fee on a CC (£500) and it didn't affect mine.

I'm not sure how quickly the credit files would update, as it may report your balance once a month? I'm sure someone with more detailed knowledge can advise.

ChopperST

Using your credit card as normal won't affect your application (unless your lender has asked for it to be paid off), applying for more credit during your application would be detrimental.

Dan-1987

When I was in the process of mortgage application recently I was advised to neither apply for new credit or use existing credit until it's a done deal,id say that's good advice and really not worth the risk imo

amnblog

Don't do it unless you cannot avoid it.

kingstreet

It certainly isn't going to do any good, so the only possibility is it could be harmful.

Best avoided.

soapstar88

Ok thanks for all the helpful comments! I think we will hold off for now