Mortgage approval and credit card limit

Anon2018

Hi,

Sorry if this is in the wrong place, new to. Boards.ie..
I didn't expect to apply for a mortgage as soon as I am and over the past few years I've been careless with money.
I had a car loan for 15k, another loan for 4k, an overdraft for 1900€ and a credit card with a limit of 3900€.
In the past 6 months I've cleared all these and started saving, I've closed my overdraft and credit card.
I got my credit report and never missed a payment on anything but I did go over my credit card limit multiple times in two years by quite a lot and this is showing.
Does anyone know the likelyhood of a mortgage being approved due to my over the limit credit card?

Thanks

silver2020

The only ones that know you went over the card limit are you and the issuer of the credit card unless it is showing on the credit report

Car loan is normal. A secondary loan is normal (it was for an amazing holiday - wasn't it!!!) and an overdraft is normal.

That you've cleared these and saved will stand you in good stead.

Anon2018

silver2020 wrote: »

The only ones that know you went over the card limit are you and the issuer of the credit card unless it is showing on the credit report

Car loan is normal. A secondary loan is normal (it was for an amazing holiday - wasn't it!!!) and an overdraft is normal.

That you've cleared these and saved will stand you in good stead.

Yeah it's showing on my credit report which is scaring me a lot now. I was hoping to apply within the next month or two now I'm not sure if I should bother.

Smee_Again

Anon2018 wrote: »

Yeah it's showing on my credit report which is scaring me a lot now. I was hoping to apply within the next month or two now I'm not sure if I should bother.

If you're concerned a broker might be a good option, they'll be able to make your case to the banks for you.

Was there a reason for going over the CC limit and did you keep up the payments? If there is and you did, and you've cleared all debt since and have a track record of saving then I wouldn't be too worried.

cruizer101

The fact you never missed payments is a good sign.
How did you go over the credit card limit? I thought credit cards didn't work as soon as you hit the limit.

Anon2018

Smee_Again wrote: »

If you're concerned a broker might be a good option, they'll be able to make your case to the banks for you.

Was there a reason for going over the CC limit and did you keep up the payments? If there is and you did, and you've cleared all debt since and have a track record of saving then I wouldn't be too worried.

I always made the minimum payments because it was set up as a direct debit so it was taken way down below the limit but then I just went over again.
No real reason I went over it to be honest, just carelessness, being young, going out constantly and on holidays etc. I'm 27 now and met someone and since then my finances have clearly improved but I'm just afraid I've messed up our chances of getting a mortgage anytime soon now.

Anon2018

cruizer101 wrote: »

The fact you never missed payments is a good sign.
How did you go over the credit card limit? I thought credit cards didn't work as soon as you hit the limit.

Yeah I hope that stands to me somewhat.
It just always let me so I always went over it, it was just carelessness more than anything, being young and stupid really. Regrets big time now.

km991148

cruizer101 wrote: »

I thought credit cards didn't work as soon as you hit the limit.

Nah, most cards will have wiggle room to account for delays etc or if something is stuck in pre Auth for a while.

So if you put a bunch of transactions on all around the same time (say for example a few days before payday) they will probably all go through. One you are over the limit and all those transactions have 'caught up' then they will start getting declined.

So you can go over easily by a couple hundred. Not double the limit or anything.