Credit card balance and mortgage completion

sturgeon

I have a completion date of September 5th for a new property.

I buy almost everything monthly on a cashback credit card, and pay it off in full by direct debit monthly. I'm probably being paranoid, but my last statement was just under £3k, which will come out my bank in 2 weeks or so (there are funds to cover this and it is within my affordability-i.e. it's not an amount outside of my earnings).

When I complete I'm concerned if the lender (Halifax) will do a final check and assume that the latest balance showing is a debt, and refuse to release funds. Regardless, the amount would have been paid off about 3 weeks before completion but I'm not sure how often a credit card balance is reported to lenders weekly (i.e. by 5th September I'd actually have a new monthly statement that would reflect spending from circa 20th July-20th August, but I don't know when this will show as my new balance as opposed to the £3k balance).

Am I being paranoid over nothing? It's just I don't know how they differentiate a CC balance between being a 'debt', even though I pay monthly and this would have been paid a few weeks before completion from my direct debit. If I pre-paid some of it now, so a smaller amount comes out my direct debit mid August, will the 'balance' reduce on my credit report?

thanks!

Thrugelmir

Nothing to be concerned about if you settle the account in full every month. .

sturgeon

OK thanks, although I guess the question is how do they know it's settled in full each month? i.e. if they saw just under a £3k balance, and then withdrew the offer thinking I'd suddenly racked up £3k debt (extremely hypothetical/paranoid) how can they tell?

amnblog

This is not a concern and yes, you are 'being paranoid over nothing'.

sturgeon

Thanks for the responses guys. I'll stop worrying about it!

Anzhelka

I was paranoid as well and I didn't spend my credit card till the last moment. But everyone is different and have different affordability.