📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Credit Card for Mortgage Balance

Options
2»

Comments

  • DullGreyGuy
    DullGreyGuy Posts: 18,613 Forumite
    10,000 Posts Second Anniversary Name Dropper
    Generally mortgage lenders don't accept credit card payments and even if they do your credit card would almost certainly treat it as cash not a purchase and so not get the benefit of a 0% interest. It therefore requires to you to get a "money transfer" card so you can get the cash and pay it over.

    Getting a £30K+ limit is probably optimistic, I'm sure some people can/do but personally £15k is the largest initial limit any card issuer has offered me (later going up). Obviously depends on your credit history and your income. 
    Would it be possible to get 3 cards with a £10k limit? Or are you unlikely to be accepted for 3 in quick succession?
    It depends on your personal situation... I would say its unlikely but the Mrs got accepted for 2 credit cards with a £10k and £7.5k limit with very limited previous CC experience but an ok income and a high household income and what little credit she had all having been clean record
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.3K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.