Just closed my CC account

Discussion in 'Loans & Mortgage Brokers' started by Clark_G, 28th Jun, 2020.

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  1. Clark_G

    Clark_G New Member

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    So I've had a credit card account for a few years that my husband hasn't know about. We are looking at applying for a home loan, so I've taken steps this week to ensure it's fully paid off and the account has now been closed. Will our mortgage broker still ask me about it even though I closed the account this week? Will it affect us being able to get a loan even though it's been paid out?
     
    Clark_G, 28th Jun, 2020
    #1
  2. Morgs

    Morgs Well-Known Member Business Member

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    If you have transactions going from your bank statement to the credit card then the broker should pick it up and ask the question.

    If the CC account comes up on your credit file as still open when you make the application with the lender they may also ask the question.

    The best way is to cover it off is to give the broker a copy of the closure letter from the CC lender so they can confirm it is closed and cover off with the new lender.
     
    Morgs, 28th Jun, 2020
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  3. hammer

    hammer Well-Known Member

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    If you've had a secret credit card.....it might be worth having a ponder about your reasons for doing that before signing on the dotted line for a joint mortgage.
     
    hammer, 28th Jun, 2020
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  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    We have many peops that have separate accounts or cards that the other partner didnt know about.

    Makes for a privacy issue, but generally not a lending issue per se.

    Squirrel accounts are not unusual

    ta
    rolf
     
    Rolf Latham, 28th Jun, 2020
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  5. wylie

    wylie Moderator Staff Member

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    Are you worried about the broker or about your partner finding out?
     
    wylie, 28th Jun, 2020
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  6. The Gambler

    The Gambler Well-Known Member

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    I'd imagine it's the latter???

    OP, is it something that you've spent a lot of money on secretly? My mate's wife was kind of doing that a few years back. He thought that she was really good balancing the bank books but in actual fact she was spending all the money. He wondered why they could afford nice holidays! So when it came time to wanting to buy an IP, she had to come clean about how much they didn't have in the bank. He was narky for a little bit, but got over it.

    I don't want to derail the thread, although it seems to have been answered, but do people actually know what cards their SOs actually have?
     
    The Gambler, 28th Jun, 2020
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