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Closing unused credit affect loan application?
Hi
Just wondering, if I closed a credit card whilst a loan application was being processed (the balance had been transferred to a 0% previous to the loan application) If I called to let them know would this positively or negatively affect my application?
Many thanks
Just wondering, if I closed a credit card whilst a loan application was being processed (the balance had been transferred to a 0% previous to the loan application) If I called to let them know would this positively or negatively affect my application?
Many thanks
0
Comments
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Neither. They will go off the information on your credit file, rather than any verbal testimonials.0
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It takes about a month for those kind of changes to filter through to your credit file so it wouldn't affect it one way or another.
Also, I suspect that since you are just shifting the balance, rather than reducing it, it wouldn't make a huge amount of difference anyway.Grateful to finally be debt free!0
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