I'm mostly cashless these days so use my credit card for groceries etc, and every month without fail i will pay my statement amount in full.
Will this affect my DSR?
Will frequent credit card use affect my DSR?
Will frequent credit card use affect my DSR?
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Nov 4 2021, 12:27 PM, updated 5y ago
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#1
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Senior Member
671 posts Joined: Aug 2006 From: Cheras |
I'm mostly cashless these days so use my credit card for groceries etc, and every month without fail i will pay my statement amount in full.
Will this affect my DSR? |
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Nov 4 2021, 09:04 PM
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#2
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Senior Member
671 posts Joined: Aug 2006 From: Cheras |
got it, so best to pay off total outstanding when applying for loan?
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Nov 5 2021, 05:27 PM
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Senior Member
671 posts Joined: Aug 2006 From: Cheras |
QUOTE(mini orchard @ Nov 5 2021, 11:24 AM) Having few thousands per month outstanding cc is normal unless the balance exceed your monthly income, then it may raise the red flag. What if i only pay statement amount and not outstanding balance?If you are applying the loan with same bank as CC, they can check your past cc records easily. If is cleared monthly, then is considered expenses and not debt. |
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Nov 5 2021, 06:39 PM
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#4
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Senior Member
671 posts Joined: Aug 2006 From: Cheras |
QUOTE(mini orchard @ Nov 5 2021, 05:45 PM) Statement and Outstanding Balance is the same meaning. Due to my CC cycle when i pay off statement balance, still got some outstanding due the next cycle. Which is kind of what got me worriedIf you are refering to minimum payment amount, then the balance is considered a debt. |
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