Credits limits and getting 0% card without destroying credit rating for mortgage

MeS

I am after some advice really...

I have two credit cards with about £10,500 credit available ... I did at one point have them maxed but have managed to get the debit down to £5,500 and want to get rid of the debit completely over the next 12 months, i also need to obtain a small mortgage over the next 12 months as well..

My question is that will having such a high credit amount effect my ability a to get a 0% balance transfer card and secondly if I reduce the credit amounts will it then look bad for a mortgage as I will have a larger percentage usage on my credit card????

Any advice on how to tackle this without harming my credit rating and ensuring I have the best possible chance of a mortgage .. currently credit rating is excellent but affordability fair ....

Thanks

[Deleted User]

You could try for a 0% card. Your current limits are quite low, so hopefully you'll have the income to support further credit.

I certainly wouldn't reduce the limits you have.

Any search or new card isn't going to concern a lender in a year;s time, as long as you haven't run up more debt.

Marchitiello

MeS wrote: »

I am after some advice really...

I have two credit cards with about £10,500 credit available ... I did at one point have them maxed but have managed to get the debit down to £5,500 and want to get rid of the debit completely over the next 12 months, i also need to obtain a small mortgage over the next 12 months as well..

My question is that will having such a high credit amount effect my ability a to get a 0% balance transfer card and secondly if I reduce the credit amounts will it then look bad for a mortgage as I will have a larger percentage usage on my credit card????

Any advice on how to tackle this without harming my credit rating and ensuring I have the best possible chance of a mortgage .. currently credit rating is excellent but affordability fair ....

Thanks

£10k is not a large amount of credit line available, and anyway the underwriters for the mortgage will be more concerned with the debts itself and if you have applied for new credit line recently