How maxed out should you be on a 0% purchase card?

firsttimestudent

Hi, my question's as above. I have a Halifax One Card - so just wonder how maxed out I should allow it to go to?

I have 2 other credit cards, both used only once or twice a month and then paid off in full. Once the Halifax One Card gets to the 'max-out level' I will start using one of the other credit card for day-to-day spending, and am thinking of culling my other credit card (so I can get another 0% credit card in the future).

So... how maxed out should I allow my Halifax One Card to be? (Credit limit - £1800, other 2 credit cards - £1400 and £1200 respectively)

Thanks!

normanmark

Can you pay it back should you 'max' it out?

I wouldn't really recommend maxing a card out anyway.

NickX

Well I go to within £1 of the Credit Limit, but to do this you need to keep a very close eye on what you are spending to avoid a Credit Limit breach.

NickX

normanmark wrote: »

I wouldn't really recommend maxing a card out anyway.

Really ? When you are stoozing, the closer to the Credit Limit you can get the better.

firsttimestudent

Thanks all for your replies.

Yes I can definitely pay back everything, in full, when the promotional period ends.

I'm just thinking how maxed out I should allow it to go, as I read elsewhere that a maxed out credit card may ring alarm bells for a future lender? So all this is just a bit of forward planning (together with the culling of one of the credit cards that I have to reduce my available credit).

So, should I max it up or leave say 5% or 10% on it? Thanks for you opinions!

normanmark

NickX wrote: »

Really ? When you are stoozing, the closer to the Credit Limit you can get the better.

I was referring to more general practices of cards as opposed to the stoozing methods.

Swans1912

normanmark wrote: »

I was referring to more general practices of cards as opposed to the stoozing methods.

You should go as close to your credit limit as your finance allows. Nothing stopping you from using the full amount providing you DO NOT go over limit!

General practice for me is to spend £500 to £800 (Shopping, Fuel, etc) on my SKYCARD and they pay off in full at the end of the month.

NickX

iKennett wrote: »

You should go as close to your credit limit as your finance allows. Nothing stopping you from using the full amount providing you DO NOT go over limit!

On a slow stooze card that I took out last year, I stopped spending when I was 13p from the Credit Limit.

Now what can I buy for 13p on my Credit Card