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Alder more and credit cards

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What’s their policy on credit cards? I had used mine last month but paid off in full at the end of the month. Have cancelled it since. Will it be an issue 

Comments

  • K_S
    K_S Posts: 6,877 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    @slou123 There's no policy as such but as long as there weren't any adverse markers on the account, it should cease to be relevant once you've paid off the balance, closed it and that's updated on the credit report.
    Slou123 said:
    What’s their policy on credit cards? I had used mine last month but paid off in full at the end of the month. Have cancelled it since. Will it be an issue 

    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.

  • Yes no adverse, paid off and closed about three weeks ago. Application already gone in yesterday so was just concerned they would reject for that
  • K_S said:
    @slou123 There's no policy as such but as long as there weren't any adverse markers on the account, it should cease to be relevant once you've paid off the balance, closed it and that's updated on the credit report.
    Slou123 said:
    What’s their policy on credit cards? I had used mine last month but paid off in full at the end of the month. Have cancelled it since. Will it be an issue 
    Also would they have seen this at the Dip stage? Thank you! I’m stressing so much
  • Recently went with Aldermore. I have 3 credit cards all paid off in full at the end of every month. The only thing they did was make it a condition of the mortgage offer that they are paid off by completion. 
  • Slou123
    Slou123 Posts: 77 Forumite
    10 Posts Name Dropper
    Ollie_90 said:
    Recently went with Aldermore. I have 3 credit cards all paid off in full at the end of every month. The only thing they did was make it a condition of the mortgage offer that they are paid off by completion. 
    Thanks! How did you find the whole roocess? We have our DIP but worrying about every little thing that may lead to rejection!x
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