Does having credit cards with high credit limits damage my mortgage application?

itani

So I had a very bad credit report back when I was a student, this was around 7 years ago and have been fixing it since. Thankfully now it's looking fine but I'm hearing that if you have credit cards with high limits might hurt your mortgage application?

I have 3 credit cards. 2 from Barclaycard and 1 from American Express.

2 with 20k limits and my Amex with 15k.

Credit Utilisation is low. No debt at all also but I do use them every month. Pay them off end of each month too. Just would like to know will this affect my application having this much credit available?

csgohan4

nope, as long as credit utilization is low and you pay it all off every month you will be fine, assuming nothing else is adverse in your credit history

itani

All is low. Maximum I've used in a month from the credit is maybe 2k but that's been paid back at the end of each statement. Nothing in my credit report that I can see is bad. I was just worried because I've been reading that they look at it as you can tally up debt quickly? I've had this sort of credit for a while now and I've been fine with it. Just crazy stuff I've been reading online.

amnblog

Don't read crazy stuff online is the message - only read the sensible stuff - that's what I do.