Does credit card installment affect mortgage approval?

Credit card installment generally does not affect mortgage approval, as long as the cardholder repays on time and does not become overdue.

If you accidentally overdue the credit card installment payment, it will affect the approval of the mortgage loan. Because overdue credit cards will be reported to the central bank's credit report by the bank, leaving a bad credit record in the personal credit report.

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the card-issuing bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder. Apply to deduct consumption funds in installments from the cardholder's credit card account, and the cardholder will repay according to the monthly credit amount.

Most domestic banks in China have credit card installment services. Installments are generally divided into shopping mall (POS) installments, "mail order installments" and bill installments through the Internet, mail, etc. depending on the occasion. .

The credit limit refers to the maximum overdraft limit that the bank gives you when approving your credit card. You can only spend within this limit. If you exceed this limit, you cannot spend with your card regularly. .

The credit limit is determined based on a comprehensive evaluation based on the information you filled in when applying for a credit card and the relevant supporting documents provided. The principal card and supplementary card*** share the same limit. Under normal circumstances, the RMB limit and the US dollar limit in a dual-currency credit card can be converted to each other. For example, if your limit is 30,000 RMB, when you use the card overseas, your credit limit is approximately equivalent to 5 ,000 USD.

The credit limit will be adjusted regularly by the bank, but you can proactively provide relevant proof of financial resources to request adjustment of the credit limit. In addition, when you need a higher limit within a certain period of time when traveling abroad, moving to a new home, etc., you can request to increase the temporary credit limit.

The second quota, which is the so-called quota that can be used in installments, is an external quota that does not occupy your original quota. According to ME Love Card, banks that support the use of the second quota in installments include China Everbright Bank and Bank of China.

The billing date refers to the date when the card-issuing bank regularly summarizes the various transactions and expenses incurred in the cardholder's credit card account every month, calculates the interest, and calculates the cardholder's repayment for the current period. .

For non-cash transactions, the period from the bank accounting date to the due repayment date is the interest-free repayment period. The interest-free repayment period is as short as 20 days and as long as 56 days. During this period, as long as you repay in full the amount due on the current period's statement, you will not have to pay any interest on the funds advanced by the bank to the store for non-cash transactions (cash advances do not enjoy the interest-free discount).

Repayment due date - the last date specified by the card issuing bank when the cardholder should repay the entire repayment or the minimum repayment amount.

Will credit card installments affect the application for a mortgage?

Credit card installments will not affect it, but the debt cannot be too high! The factors that affect the approval of home loans include serious overdue credit records, and the inability to have ++++ and online loans. Each bank's approval flexibility is different. Your monthly income must cover your monthly liabilities. Liabilities include car loans, housing loans, and credit cards. Now, each bank's loan approval will look at the applicant's debt situation and online loan usage. If you have a mortgage loan from another bank, it will be fine, but if you have a credit loan, it will affect your next payment! If there are multiple online loans, it means you are short of money. The interest rates of online loans are generally much higher than those of bank loans. For example, the annual interest rate of a bank loan for one year is 4.35%. This is the base interest rate, which is very low! Even if it generally rises by 30%-50%, it is only 5.655%-6.525%! The annual interest rate of online loans is 8-10%, which is considered polite. I heard that there are also 22%! You can accept such a high interest rate and even use multiple online loans to withdraw funds! Does it mean you are short of money? For the bank, your business is high risk, and you have a high chance of defaulting! So for those of you who have nothing to do with taking out multiple online loans, you are not just fooling around, you are too lazy! Finally, stop slipping! Does installment credit card affect mortgage loan?

Credit Card 2020-09-18

Holding an installment credit card will not affect the customer's subsequent mortgage loan application. As long as the customer prepares sufficient information when applying for a mortgage, maintains good personal credit, has a stable income, and has the ability to repay the principal and interest of the loan on time, he or she can generally successfully apply for a mortgage.

Of course, everyone also needs to be aware that if there are unpaid credit card installments, it will increase the customer's debt. And when a personal debt ratio is too high, it will affect the approval of mortgage loans. Because once the bank finds that the customer's debt is too high, it will worry about the customer's insufficient repayment ability and may refuse to approve the loan; even if the loan is approved, the approved amount may be lower.

So if a customer finds that he has a lot of debt that has not yet been paid off, before applying for a mortgage loan, it is best to find a way to pay off the debt or pay off part of it first, and reduce the personal debt ratio before applying. Home loan.

Also, everyone should remember to repay on time when repaying credit cards. If it is overdue, it will be reported to the central bank for credit reporting. When approving the mortgage loan, the bank will find that the customer has a bad credit record. , the customer’s loan application will be directly rejected.

Will credit card installment affect mortgage approval?

Applying for credit card installment business can alleviate the current repayment pressure, and sometimes it can also help increase the credit card limit. A friend wants to apply for a credit card installment, but he doesn’t know whether the credit card installment will affect his future mortgage application. Will the credit card installment affect the mortgage approval?

1. Under normal circumstances, credit card installment will not affect mortgage approval.

2. Unless the installment amount is too high when applying for a mortgage and has not been repaid, or the credit card installment payment is overdue.

3. When approving mortgage loans, banks focus on the borrower’s repayment ability and personal credit. If the installment amount is too high and has not yet been repaid, it indicates that there are certain problems with the individual’s repayment ability. Overdue repayment of credit card installments indicates that there is a problem. Credit records.

The above is an introduction to whether credit card installments will affect mortgage approval. I hope it will be helpful to friends in need.

This is the introduction to the inability to apply for a credit card installment loan.