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Hi. I have a credit card I use a lot and pay off before the end of the month. I get points for purchases so I run most of my purchases through it. I pay it online so the large payments to the credit card company show up on my bank statements. I may soon apply for a mortgage. I read that mortgage companies look at your last three bank statements. Will this be a problem or considered negative? Will I have to explain it or should I just stop doing this? The balance is zero or low at the end of the month. Thanks for any information or advice.
Be prepared to document and explain this
You may simplify by not doing it for a couple of months prior to the mortgage but if not this shouldnt be an issue
just know it will have to be clearly explained to the underwriter
Brian
Thanks for your response. I think I'll go for easier and stop.
I've been wondering the same thing as I wind down the last month, and I'm debt free. I've been using cash and money orders to pay of the CC's.