Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • mazman83
    • By mazman83 9th Sep 17, 12:54 PM
    • 245Posts
    • 179Thanks
    mazman83
    What next?
    • #1
    • 9th Sep 17, 12:54 PM
    What next? 9th Sep 17 at 12:54 PM
    Hello

    Yesterday my BR dropped off my credit reports, and after 6 years it felt good

    During the 6 years I've been managing my finances very well, I'd like to think anyway.

    I had a Barclay basic account during that time but was quite surprised I got accepted for a current account 4 months ago, whilst BR was still on reports.

    I've also been running a Aqua credit card with 4k limit for the last 4 years. Have never used more than 20% of the limit and always pay off in full.

    Question I have is now that BR has dropped of my reports would it look better to close my Aqua card and go with Barclaycard or a Capital One card, which have lower interest rates?

    Also is having 4k limit but using very little of it a negative or a positive?

    Just want to continue building back up really. Next thing would be a sim only contract which I haven't been able to get.
    Last edited by mazman83; 09-09-2017 at 2:03 PM.
    BSC Member 351
Page 1
    • debt doctor
    • By debt doctor 10th Sep 17, 7:14 PM
    • 4,157 Posts
    • 5,826 Thanks
    debt doctor
    • #2
    • 10th Sep 17, 7:14 PM
    • #2
    • 10th Sep 17, 7:14 PM
    Hello

    Yesterday my BR dropped off my credit reports, and after 6 years it felt good

    During the 6 years I've been managing my finances very well, I'd like to think anyway.

    I had a Barclay basic account during that time but was quite surprised I got accepted for a current account 4 months ago, whilst BR was still on reports.

    I've also been running a Aqua credit card with 4k limit for the last 4 years. Have never used more than 20% of the limit and always pay off in full.

    Question I have is now that BR has dropped of my reports would it look better to close my Aqua card and go with Barclaycard or a Capital One card, which have lower interest rates? I would apply for the new card, keep the old card for 6 months but don't use it - then close it.

    Also is having 4k limit but using very little of it a negative or a positive? Positive. One of the many things looked at is how much of your overall credit is being used.

    Just want to continue building back up really. Next thing would be a sim only contract which I haven't been able to get.
    Originally posted by mazman83
    Hi, hope that helps. I'd be surprised if you can't get a sim only deal now TBH - although it is important not to make too many applications for credit close together.
    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
    • mazman83
    • By mazman83 10th Sep 17, 10:17 PM
    • 245 Posts
    • 179 Thanks
    mazman83
    • #3
    • 10th Sep 17, 10:17 PM
    • #3
    • 10th Sep 17, 10:17 PM
    Hi

    Thanks for your answers.

    I was surprised too about not getting a sim only contract but to be fair I only tried one provider a couple of times.

    Will wait for a bit and will give it another go now reports are clear.

    Thanks again.
    BSC Member 351
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,543Posts Today

7,376Users online

Martin's Twitter