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Two Credt cards showing after paying them off
Simoma
Posts: 1 Newbie
Hi guys, I hope you can help and apologies if this is something that's been answered before.
I am just about to apply for a mortgage but the limit is hampered by a credit card balance showing on my credit report. I had £4k on a card, which I transferred over a month ago onto a new 0% card, which I sorted out funds to clear it. I managed to finalise this a couple of weeks ago and now both cards are paid off in full.
Despite this, my credit report is showing £4k balances on both cards and looks at though I am effectively £8k in debt, even though it's all paid off.
I realise it doesn't come off automatically but the sale of my house is progressing faster than I thought and now I am worried I won't receive the same mortgage offer. Is there any way I can expedite the process of removing these transactions or is there a way of proving to the bank where I am applying for my mortgage, that all debt has been paid off (and not onto another card!!)
Many thanks for your help
I am just about to apply for a mortgage but the limit is hampered by a credit card balance showing on my credit report. I had £4k on a card, which I transferred over a month ago onto a new 0% card, which I sorted out funds to clear it. I managed to finalise this a couple of weeks ago and now both cards are paid off in full.
Despite this, my credit report is showing £4k balances on both cards and looks at though I am effectively £8k in debt, even though it's all paid off.
I realise it doesn't come off automatically but the sale of my house is progressing faster than I thought and now I am worried I won't receive the same mortgage offer. Is there any way I can expedite the process of removing these transactions or is there a way of proving to the bank where I am applying for my mortgage, that all debt has been paid off (and not onto another card!!)
Many thanks for your help
0
Comments
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Show them the statements1
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All depends when data is reported to the CRA's.0
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Some companies only update your credit file every couple of months. As long as you can prove you have paid off the Cc’s you shouldn’t have a problem
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Credit files are a 'snapshot' - the issue should not take too long to resolve itself and in the meantime you can prove what has really happened if necessary0
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