Credit card amount on loan

JAM0915

Hey, when appplying for a loan - do we put the figure on our credit card as per the latest credit report or the amount on the credit card at the moment as that’s higher? Thanks 

Brie

I always use last statement date as that's easier to keep track of.  If I look at the card I used mostly it will have one total showing online today but by Tuesday it will show a higher amount due to stuff I bought last week having finally caught up with their system.  

JAM0915

If I use the most updated on my credit file (the statement before last) so June even though July has been made up, will this stop us getting the loan? 

[Deleted User]

Use the most current figure, as that will match up most closely with what lenders see in real time reports.

JAM0915

So if I use the June statement figure will it cause us to get rejected? 

[Deleted User]

No one can tell you whether you'll be rejected or not.

But you should be aiming to answer honestly.

JAM0915

Basically my credit card has a balance of £726 in June from a £5000 limit. 

It then has just over £2000 in July statement and has around £2500 at the minute. 

If I put the £2000 latest statement figure on the loan application am I likely to get rejected even though my credit score is good? Thanks 

[Deleted User]

Put £2500.

You credit score has no bearing on you getting the loan or not.

JAM0915

Credit score doesn’t? Then what does? 

JAM0915

Surely your credit score reflects the way you have managed debt in the past etc? 

MrFrugalFever

JAM0915 said:

Basically my credit card has a balance of £726 in June from a £5000 limit. 

It then has just over £2000 in July statement and has around £2500 at the minute. 

If I put the £2000 latest statement figure on the loan application am I likely to get rejected even though my credit score is good? Thanks 

What is your aversion to putting down the correct and honest balance?

If you aren’t clearing your balance in full, is a loan going to compound issues?