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Too much available credit, potential problem?
nmjams
Posts: 265
Forumite
I've just read an old thread that having to much available credit could effect a mortgage decision.
I earn around 23k, i have 3 credit cards with a balance of £450 on a card that has a credit limit of 6k. 2 older cards have limits of £2000 and £2100
What's the best thing to do, would closing the older cards with zero balances be my best option?
I've been house hunting for a year and would hate to have a mortgage declined.
I earn around 23k, i have 3 credit cards with a balance of £450 on a card that has a credit limit of 6k. 2 older cards have limits of £2000 and £2100
What's the best thing to do, would closing the older cards with zero balances be my best option?
I've been house hunting for a year and would hate to have a mortgage declined.
0
Comments
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No problem in that - profile shows less than 50% available of annual income with limited usage, mid range limits with no need to extend.
Doesn't get much better than that (there are of course other potential components),Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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