Mortgage application with zero credit card balance

doggo12

Hi 

Trying to find answers to the below 

Me and my partner have a AIP when applying I didn't declare credit card balance as it was at zero however that credit card is also not showing on my credit file when applying for the mortgage will this likely affect the mortgage process the AIP is with West brom the house we have had an accepted offer on is 20k below the max budget and we have a 11% deposit.

Just wondering if they will take that into account as it's currently not reported and so not showing on my credit utilisation either. 

Can answer more questions if needed 

grumpy_codger

How long is a piece of string?
How big is the CC balance? Are you going to pay it in full or gradually?

MyRealNameToo

grumpy_codger said:

How big is the CC balance? Are you going to pay it in full or gradually?

doggo12 said:

I didn't declare credit card balance as it was at zero 

As small as its possible to be without breaching the terms

ACG

Im confused...
You have a credit card with zero balance that does not show on your credit report? If so, I cant think of any way that would affect your mortgage. The only way they would know about it is if you have recently used it and it shows as being paid on your bank statements sent over to the lender - if not then no problem. If it does, they may just ask about it but thats it. 

Mark_d

You have no balance on your credit card so it wouldn't affect your affordability.

Is you credit card not showing on any of your credit reports - Experian, Equifax and Transunion?  It's not unusual for a company to update some credit reference agencies but not others.

Do you have late/missed payments etc. with your credit card account?  If you do then that might be a small risk - but it is a risk too small to worry about.

MWT

doggo12 said:

Me and my partner have a AIP when applying I didn't declare credit card balance as it was at zero ...

Are you talking about a credit card with no balance that now has a balance, or are you talking about a credit card with a balance at 0% interest?

MyRealNameToo

ACG said:

Im confused...
You have a credit card with zero balance that does not show on your credit report? If so, I cant think of any way that would affect your mortgage. The only way they would know about it is if you have recently used it and it shows as being paid on your bank statements sent over to the lender - if not then no problem. If it does, they may just ask about it but thats it. 

Surely they'd have a problem if the OP states they have no cards, thinking this one doesnt show on the CRAs, but then the lender checks and finds they do have a card (eg its on one CRA but not the others or OP doesnt realise the banks are part of the same group etc)? 

Even if its at a zero balance its application fraud to say it doesn't exist. Looking at our paperwork from our last purchase we were asked to list all cards inc those with nil balances. 

ACG

MyRealNameToo said:

ACG said:

Im confused...
You have a credit card with zero balance that does not show on your credit report? If so, I cant think of any way that would affect your mortgage. The only way they would know about it is if you have recently used it and it shows as being paid on your bank statements sent over to the lender - if not then no problem. If it does, they may just ask about it but thats it. 

Surely they'd have a problem if the OP states they have no cards, thinking this one doesnt show on the CRAs, but then the lender checks and finds they do have a card (eg its on one CRA but not the others or OP doesnt realise the banks are part of the same group etc)? 

Even if its at a zero balance its application fraud to say it doesn't exist. Looking at our paperwork from our last purchase we were asked to list all cards inc those with nil balances. 

In 13 years I have never put a credit card down with a zero balance. 

doggo12

Hi 

Yes sorry I've used it once and paid it off so has nothing on it and is not reported to any agency so guessing it would just mean it wouldn't affect it as such I paid it off before doing a MIP so didn't declare it was planning to close the account but been advised not to do that either and to just leave it there.

It's not a zero interest card but as above has no balance on it

ACG

Its unlikely to cause any problems and I would not put it on the application.