Credit Card Cash Withdrawal

[davel]

Hi all,

Simple bit of advice needed here - currently going for a mortgage. All documentation has been submitted.

We are debt free. Save about 3k a month and rent is 1450 pm... We have more than a 10% deposit so plenty cash for legal fees, stamp duty etc The mortgage we are looking at is also well inside what the 'affordability' calculators advised.

We have a credit card which is managed tightly and currently the balance is about 200..

All in all the broker believes that we are a straightforward case..

However there is one anomaly on our credit card... back in November I somehow conspired to find myself without my ATM card in need of cash but in possession of my credit card.. So in desperation I withdrew the cash from the card. The card balance was cleared in the meanwhile.

It is the one and only time since opening that card account (a decade ago now at least) that I did a cash withdrawal... So needless to say I'm a little pi$$ed off that it had to happen 2 months before a mortgage application.

Should I voluntarily explain why that cash withdrawal is there before
a) they ask the questions
b) they unilaterally reject the application

Or should I sit on it? Some advice would be greatly appreciated.

Thanks,
Dave

 

[dublin100]

If you have an explanation great. But based on what you say about your savings record etc, there shouldn't be an issue.

 

[Gerry Canning]

If you have an explanation great. But based on what you say about your savings record etc, there shouldn't be an issue.

Davel,
Should not be an issue, if brought up say you found yourself short of cash and used it.
Remember that is a good use of a card, so no worries.