Loan Application

[andy-hughes]

If I ask for a bank loan, are they more likely to accept my application if I confirm I have four credit cards, including one of theirs, or am I better not to declare that?

[EvianBaby]

Wouldn't they find out when they run the credit check anyway.

[ummmm]

They will know about the CC's when they do a credit check.

[andy-hughes]

That's what I'm wondering ...

[tiggerblue10]

As Evian says, I'm sure they will look into this before accepting your application.

[tiggerblue10]

I think I see what you're asking now Andy. Yes, I would declare it.

[ubasses]

The number of credit cards held will not make a difference, any outstanding balances and any repayments being made each month will be taken into account.

[ABerrant]

The number of credit cards per se does not count against you, it is the total credit available to you on all cards that is relevant to the decision.

Non disclosure of material facts has a specific name in law - fraud.

[ladybirder]

You could always get a copy of your credit record yourself and see exactly what it says on it. But I think your cc's must be on record because my daughter had no cc and therefore no credit record and was advised by a FA to get herself a card and use it for a few months and then apply for a mortgage.