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  • FIRST POST
    • muselnor
    • By muselnor 11th Aug 17, 11:40 AM
    • 8Posts
    • 2Thanks
    muselnor
    Credit Utilization?
    • #1
    • 11th Aug 17, 11:40 AM
    Credit Utilization? 11th Aug 17 at 11:40 AM
    Hi All,

    I get the fact that if you use too much of your available credit on a credit card for instance it can affect your credit rating.

    How does it work with a company like Very. I have an account with them and they have upped my limit to £1200 (Previously £900) If I use up to my limit but pay it back in 3-4 months will it affect my credit rating?

    Thanks in advance!
Page 1
    • sourcrates
    • By sourcrates 12th Aug 17, 12:13 PM
    • 11,544 Posts
    • 11,130 Thanks
    sourcrates
    • #2
    • 12th Aug 17, 12:13 PM
    • #2
    • 12th Aug 17, 12:13 PM
    Hi,

    Credit reports are marked green if you pay on time, amber if you pay late, and red if you default.

    There is no provision for any other information.

    Your credit score fluctuates all the time at the whim of the CRA`s.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • DCFC79
    • By DCFC79 12th Aug 17, 1:52 PM
    • 29,737 Posts
    • 18,828 Thanks
    DCFC79
    • #3
    • 12th Aug 17, 1:52 PM
    • #3
    • 12th Aug 17, 1:52 PM
    Hi All,

    I get the fact that if you use too much of your available credit on a credit card for instance it can affect your credit rating.

    How does it work with a company like Very. I have an account with them and they have upped my limit to £1200 (Previously £900) If I use up to my limit but pay it back in 3-4 months will it affect my credit rating?

    Thanks in advance!
    Originally posted by muselnor
    Remember your rating isn't seen by anyone but yourself.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
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