Credit building credit card

Fabulouso · 25 September 2017 at 3:54PM

Hello,

I recently got a credit card to build my rating slightly. I got Ina mess a few years ago after a huge accident and being self employed was unable to work.
I've tried really hard to clear the debt and looking back I've done well, I have two ccjs though which will remain until 2019. (Nothing I can do about that...?)

I got an aqua card to build my credit. I get my petrol on it and clear the balance and within 3 months it doubled my credit amount. The interest free period has also ran out now.

Is there anything I can do to help my credit rating now? They are the only negatives on my report, also, will it hurt my credit if I got another card (happy to close the aqua one down or kept it) that has an interest free period?

Any advice appreciated. Thankyou x

[Deleted User] · 25 September 2017 at 3:58PM

It would be wise to get a second card.

But why do you need an interest free period, if you're already clearing the balance? Is it so that you can focus on paying down remaining debt?

I would be wary of starting to carry a balance, even at 0%, on a sub prime card.

Fabulouso · 25 September 2017 at 4:09PM

No, I don't have any outstanding debts other than a car loan and the ccj (which has installments being paid off) I only really wanted the 0% option with Christmas coming up as a 'just in case' really.

But you think getting a second card will help? Do I keep the aqua card too and continue to use them/pay them off or not?
Thankyou

[Deleted User] · 25 September 2017 at 4:12PM

Keep and use both. It will show at least two lenders trust you and it's always wise to have at least one back up.

Don't go for a 0% option for Christmas. Christmas comes around at a similar time each year - just plan for it and spend what you have. There's a great danger you could end up with a few hundred pounds at 40%.

dresdendave · 25 September 2017 at 5:19PM

As mentioned by ZX81, don't treat your card as available funds for Christmas. If you are short of money come Christmas....just spend less.

Keep using the cards as you are, spend small amount, pay in full, on time every month. The whole point of a credit building card is to improve your credit history without paying a penny in interest.

Fabulouso · 26 September 2017 at 5:18PM

Ok. Thankyou everyone. So I'll go ahead with the second card. Is there anything else I can do to help build it. Or do I just need to wait for the ccjs to be removed? X

Credit building credit card

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