Settling a credit card

06hallja

I’ve recently come into some money that I’m hoping to pay off some credit card debit with.

I want to call them and see if they will accept a lower amount, the debit is newly 2 years old and I’ve only paid off £100 on £3.5k, never missed a payment, just kept using the card!

My only fear is that me and my girlfriend are wanting to buy a house in the next year and I’m worried it will have a negative affect on my credit score that I won’t be able to get a mortgage.

The card it with Barclaycard.

sourcrates

Hi,

Absolutely no chance of that happening unless the debt has been long since defaulted, sold on a few times, and doesn’t have compliant paperwork.

Non of which applies to your situation.

As long as you haven’t broken the terms of your agreement no one will accept less than what is owed.

fatbelly

If you're after a mortgage you don't want defaults or partially settled marks anyway so just pay them off.

enthusiasticsaver

Why do you want them to accept a lower amount? Are you in financial difficulties? If you have recently come into money you can presumably afford to repay your debt. Any defaults will show on your record and impact on mortgage applications.

Craig1981

unfortunately you cant haggle with a CC provider for lower amount as if you were at a car boot sale

if by some miracle they were to accept an offer, they would surely default you on the remainder, then no chance of a mortgage. I see by recent posts you have opened a LISA as well, so you are firmly on your way to get your first mortgage, so pay the CC off in full.

MEM62

06hallja wrote: »

I’ve recently come into some money that I’m hoping to pay off some credit card debit with.

I want to call them and see if they will accept a lower amount, the debit is newly 2 years old and I’ve only paid off £100 on £3.5k, never missed a payment, just kept using the card!

Unless the card has defaulted and the debt outstanding for some time the lender won't deal. (And why should they?)

My only fear is that me and my girlfriend are wanting to buy a house in the next year and I’m worried it will have a negative affect on my credit score that I won’t be able to get a mortgage.

If you have only been able to clear £100 of a £3.5K debt in two years I doubt that you would pass the mortgage affordability checks.

The card it with Barclaycard.

Clear the card in full and keep it clear. Build up a decent deposit and look again at a mortgage in a couple of years. (Unless, of course, your girlfriend is minted!)