@n0smirc wrote:
Hi all, I'm applying for a mortgage and would like to hit lower utilization on my cards when they report since I always pay in full anyways. I wasn't sure if Barclays does a mid cycle update or not if you ask?
Otherwise I need to wait until mid December for it to update since that's when they cut statements for this account.
It's not traditional process but you could ask your mortgage lender for a rapid rescore right up front before they pull your credit. Likewise if you request it I believe lenders will pull a second time if there's a substantial change on your credit report (cleaning it up or whatever) and mortgage inquiries get rolled up in a one month period on the FICO '04 model which mortgages use (maybe all or darned near close).
I'd just work it out with the loan officer anyway, there's some steps to go through anyhow regarding paperwork and documentation gathering and what not, I'm sure you're not the first to start looking earlier than strictly ideal.
As an update: I contacted barclaycard and they stated they couldn't do the mid-cycle update but they can provide me with a balance letter by fax, if I wanted it quickly. That's pretty accomodating, tbh. I love quick fax letters! (I'm mostly just posting this as an FYI for other folks, if they're curious about what Barclaycard folks will agree to)
Almost everything I need for the loan is over with the loan folks, just need this balance letter and they can rescore me up to where I need to be. 