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    • confused0376
    • By confused0376 6th Mar 18, 10:44 PM
    • 6Posts
    • 0Thanks
    credit card application and mortgage
    • #1
    • 6th Mar 18, 10:44 PM
    credit card application and mortgage 6th Mar 18 at 10:44 PM
    Looking for a bit of clarification. I currently have Capital One credit card, balance 1400, credit limit 2000. I want to move it to a lower interest card, (I havent used it in over a year but monthly payments hardly touch reducing the balance). If I move it and pay the same each month on a no interest balance transfer, it will be paid off in around 10 months with a bit of an increase in monthly payments. Staying with Capital One it will take near 7 years to do the same! But I am hoping to move house soon, in the next few months. Will taking a new card and cancelling the capital one card affect applying for new mortgage? (I've held a mortgage for 15 years already so not first time buyer). Not sure if its better to keep high interest or change to low interest, because of mortgage application.
Page 1
    • venison
    • By venison 6th Mar 18, 10:57 PM
    • 2,170 Posts
    • 2,320 Thanks
    • #2
    • 6th Mar 18, 10:57 PM
    • #2
    • 6th Mar 18, 10:57 PM
    If its a few months off then should be ok, if you get the 0% card and pay half the balance in 5 months.
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