Credit cards: "Monthly payment"?

borborygmous

Another question about mortgage applications and credit cards.

Again, I repay my credit card debt in full each month. The mortgage application form asks for my "Monthly payment" (along with my "Outstanding balance"). Since it's different every month, I'm not sure what answer they expect for "the" monthly payment: An average of previous months' payments? The current outstanding balance repeated again? Something else?

I've seen very similar questions on a previous mortgage application a few years back, so I think it's not specific to this particular lender...

Contemptuous

If you clear it in full every month, you would input the monthly payment as the same figure as the outstanding balance.

minimike2

Contemptuous wrote: »

If you clear it in full every month, you would input the monthly payment as the same figure as the outstanding balance.

The lender might not want that.

If someone spends £3k on a card then pays it off in full, putting down £3k as a monthly credit outgoing has the potential to cause issues.

OP if you are unsure about your application why are you not using an advisor to process it?

Anzhelka

They always count only minimum payment.