The credit card debt does not affect the approval of the mortgage, but the premise is that the credit card debt must be repaid normally, and personal credit information must meet the bank conditions.
The details also depend on the bank's requirements for credit investigation. Different banks may have different requirements for credit investigation. Under normal circumstances, banks follow the principle of "three times in a row and six times in a row", but some banks have strict requirements, such as no more than four overdue cases in a year, or no more than two overdue cases in the last six months. If there are any cases, they are basically likely to be rejected.
Secondly, besides credit investigation, when reviewing and approving housing loans, banks will not simply consider how many credit card overdrafts you have, but will comprehensively evaluate them from credit card overdrafts, credit records, personal income and other aspects, and then get a score. Only when the comprehensive score meets the requirements of banks can the mortgage be approved.
generally speaking, you should pay more attention when using credit cards, try not to overdue them, and try not to blow up your credit cards, so as to spend as little as possible, which is also conducive to raising cards. Also, don't check your credit frequently. If you always check frequently, you may be rejected by the bank.
Extended information:
What are the serious consequences of overdue credit card repayment
1. Overdue interest and liquidated damages
As long as a credit card is overdue, it will definitely generate interest and liquidated damages.
2. Bad credit record
After it is overdue, there will be bad credit records in the personal credit report. This is very important, and it is related to the cardholder's application for loans and credit cards.
3. Bank collection may face criminal problems
After overdue, if the repayment is not made for a long time and the overdue amount is large, it may face bank collection. And the bank's collection is not returned, it may face criminal problems. Can I borrow money to buy a house if my credit card is in arrears?
If there is a credit card debt, you can borrow money to buy a house. As long as the credit card arrears are repaid on schedule, it will generally not have any negative impact on the mortgage. It should be noted that if the credit card owes too much, it will lead to a high personal debt ratio. If you want to apply for a mortgage, you'd better pay off the debt in advance to reduce your debt ratio.
What should I pay attention to when applying for a mortgage
1. Do what I can
Buying a house with a loan is a long-term tug-of-war, and some people will choose to repay the loan in twenty or thirty years. Some people say that "there is pressure to have motivation", so these people directly choose a big house when buying a house, and as a result, they fall into the embarrassing situation of "losing both money and housing"! In this regard, buying a house should be done according to one's ability, and the pressure can be appropriately increased. You must know that it is too late!
2. Give priority to provident fund loans
If you want to borrow money to buy a house, the first thing to consider is provident fund loans. If there is no provident fund, you can only choose commercial loans. The mortgage interest rate has been rising constantly, which undoubtedly greatly increases the pressure on buyers. Therefore, when buying a house with loans, it may be advisable to give priority to provident fund loans, so that interest can be paid less. However, it should be noted that not all properties support provident fund loans, so ask the situation clearly before buying a house.
3. Prepare loan application materials in advance
The loan procedure is very complicated, and the lender generally has to prepare in advance so as not to affect the progress of the loan. When applying for a mortgage, the bank will need the borrower to provide information, and many homebuyers have delayed the mortgage because of the problem of applying for loan information. Therefore, property buyers should first understand the details of the mortgage application from the loan bank and prepare the loan application materials in advance, which will undoubtedly speed up bank lending.
4. Ask the bank for help when there is no money to repay the loan
Many people have encountered this situation, and due to some accidents, they can't repay the loan for a while. The road to repayment is long, and once there is a major accident, then buyers are likely to be unable to repay the loan on time. But no matter how difficult you are, don't abandon your house and cut off your mortgage, otherwise the consequences will be unimaginable. If you have no money to repay the loan, you might as well ask the bank for help and apply for deferred repayment.
5. Keep your personal credit information good
Now is an era where reputation is paramount, and it is impossible to get a loan without a good reputation. Good personal credit information is a prerequisite for obtaining bank loans. If you keep good personal credit information, you can not only get loans quickly, but also enjoy discount interest rates. If your personal credit information is flawed, even if you successfully get a bank loan, you will often be asked to raise the mortgage interest rate and increase the down payment ratio. Can I borrow money to buy a house if my credit card is not paid off?
Credit report is a record of personal credit information issued by the People's Bank of China, and it is the basis for commercial banks to review your loan qualification and credit record, depending on the personal credit record. It is suggested that you contact the China Bank outlets that want to handle the loan business.
the above contents are for your reference. please refer to the actual business regulations.
if you have any questions, please contact online customer service of Bank of China.
You are cordially invited to download and use China Bank Mobile Banking APP or BOC Cross-border GO APP to handle related business.