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  • FIRST POST
    • samanthaireland29992
    • By samanthaireland29992 17th May 17, 5:00 PM
    • 1Posts
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    samanthaireland29992
    what effects your credit rating ????
    • #1
    • 17th May 17, 5:00 PM
    what effects your credit rating ???? 17th May 17 at 5:00 PM
    Hi everyone please adv me......

    I am trying to boost my credit rating and am a bit confused about a few things.....

    i have bought myself out of my mobile phone contract & paid of my catalog i had.

    will this now show as a positive/ settled accounts?

    Also i have a capital one credit card that i took out 4 months ago and have been using it correctly shall i do the same and now close that too?
Page 1
    • TheDebtinator
    • By TheDebtinator 17th May 17, 5:15 PM
    • 201 Posts
    • 57 Thanks
    TheDebtinator
    • #2
    • 17th May 17, 5:15 PM
    • #2
    • 17th May 17, 5:15 PM
    If you're paying your card off in full each month then you're doing the right thing.

    If you're referring to your credit score then its utterly meaningless. So meaningless that I have just upped your score to 1000 out of 999.
    • Candyapple
    • By Candyapple 17th May 17, 6:59 PM
    • 1,845 Posts
    • 1,458 Thanks
    Candyapple
    • #3
    • 17th May 17, 6:59 PM
    • #3
    • 17th May 17, 6:59 PM
    If you are trying to build your credit history then what counts is paying on time, long length of holding accounts, some closed accounts which show you can handle credit responsibly. These are just a few pointers amongst others.

    Yes your catalogue account should show as being closed/settled section of your credit reports.

    When you say bought out your mobile phone contract - what do you mean? You have paid off all the line rental (plus handset costs if applicable) in advance for the length of the contract? Please specify.

    If you only took out the Cap One card 4 months ago don't close it. You ideally want to keep it open for at least 1 year.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
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