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  • FIRST POST
    • eng1991
    • By eng1991 19th Sep 19, 3:23 PM
    • 28Posts
    • 9Thanks
    eng1991
    % of Credit Card Limit being used
    • #1
    • 19th Sep 19, 3:23 PM
    % of Credit Card Limit being used 19th Sep 19 at 3:23 PM
    What % of credit card limit being used is seen as bad for potential mortgages?



    Obviously in an ideal world it would be 0% but does anyone know any thoughts mortgage companies have on credit card limit usage?
Page 1
    • Gary_Dexter
    • By Gary_Dexter 19th Sep 19, 3:55 PM
    • 6,576 Posts
    • 4,392 Thanks
    Gary_Dexter
    • #2
    • 19th Sep 19, 3:55 PM
    • #2
    • 19th Sep 19, 3:55 PM
    It depends.
    Do you carry a balance or clear in full each month?

    If you're carrying a balance then the utilisation will carry on, if you clear in full then it's cancelled out by the payment.
    • eng1991
    • By eng1991 19th Sep 19, 4:01 PM
    • 28 Posts
    • 9 Thanks
    eng1991
    • #3
    • 19th Sep 19, 4:01 PM
    • #3
    • 19th Sep 19, 4:01 PM
    No some of it is carried at the moment until I can clear it all. My % is about 80%.
    • Gary_Dexter
    • By Gary_Dexter 19th Sep 19, 4:10 PM
    • 6,576 Posts
    • 4,392 Thanks
    Gary_Dexter
    • #4
    • 19th Sep 19, 4:10 PM
    • #4
    • 19th Sep 19, 4:10 PM
    Is it on a 0% interest promo?
    If so then it's less of an impact than one that isn't.
    • eng1991
    • By eng1991 19th Sep 19, 4:17 PM
    • 28 Posts
    • 9 Thanks
    eng1991
    • #5
    • 19th Sep 19, 4:17 PM
    • #5
    • 19th Sep 19, 4:17 PM
    No about 25% of it is but the rest isn't
    • Willing2Learn
    • By Willing2Learn 19th Sep 19, 4:30 PM
    • 4,414 Posts
    • 3,958 Thanks
    Willing2Learn
    • #6
    • 19th Sep 19, 4:30 PM
    • #6
    • 19th Sep 19, 4:30 PM
    That is quite a lot of the available credit you are carrying from month to month. A lender may be concerned by that, although ultimately it would depend on their lending criteria. Do you have any other active credit accounts?
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • JayMawds82
    • By JayMawds82 19th Sep 19, 6:08 PM
    • 22 Posts
    • 5 Thanks
    JayMawds82
    • #7
    • 19th Sep 19, 6:08 PM
    • #7
    • 19th Sep 19, 6:08 PM
    The max is generally 50% utilisation

    Obviously the lower, the better.
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