Credit Building Credit Card & Mortgage Applications

tain

Does anyone know if mortgage lenders consider the type of credit card that you have when making an application?

I've got an Aqua credit card that I used to build my credit rating up many moons ago, and was wondering about cancelling it so its no longer on my current credit file (just in the history). I've got other credit cards so have no use for it.

Thrugelmir

The card type makes no difference. What matters is what you've got and how you've used it. Never any harm in doing some housekeeping.

tain

I just got paranoid when I heard mortgage applications failing instantly from people who have used pay day loans. I know this isn't the same, but a huge APR credit building credit card isn't in a totally different town to payday loans.


Anywho - as long as it bares no influence on any application, I'll keep hold of it anyway for little purchases here and there.

Senior_Paper_Monitor

Where there is manual underwriting it can be seen as 'a clue' to look deeper for any possible problems (that's certainly how we treat them at broker level) but provided nothing is unearthed by such action then the type of card should have no influence on the outcome.