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Will this affect my chances

I am looking to buy my first house in about 4 or 5 months but have not had the greatest credit history. I've tried to repair this the last few years including using a credit card and fully clearing it every month.

I've just been told by my credit card company that I'm now eligible to double my limit. This is not something that I need and would not make use of but would accepting this affect my chances either way if applying for a mortgage in next few months? 

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 28 April 2021 at 8:52AM
    As a general rule, if you're offered an increase, take it, unless your combined limits are now dwarfing your income, or you have issues controlling your spending.
  • K_S
    K_S Posts: 6,908 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    @weetod Based on the very limited info in your post, whether you accept an increase or not is unlikely to have a material impact on your chances.
    If you increase your limit and then proceed to load up on debt, then yes there may be an impact.

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

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