Managing credit card

What's the best way to go about managing my credit card with regards to reparing my credit file and my credit limits increased - paying the balance off in full every month or just most/some of the it?


  • Kavanne
    Kavanne Posts: 5,093 Forumite
    If you can pay it off in full each month, do that! Don't pay interest just to repair your credit file.
    Nuns! Nuns! Reverse!

    'I do my job, do you do yours?'

  • Innocent_Guy
    Innocent_Guy Posts: 5,369 Forumite
    Kavanne wrote: »
    If you can pay it off in full each month, do that! Don't pay interest just to repair your credit file.

    CRA now hold the data of your payments and it is actually better for you & your pocket if you pay in full
    Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
    Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
    6 credit accounts closed in 2010!

    Official SOS Club number 001 - Dry until 01.07.10
  • UncleSimit
    UncleSimit Posts: 167 Forumite
    I do pay in full. It's I just presumed as my credit card company dont make any money off me from interest, they may be less likely to increase the credit limit. Guess I was wrong

    Cheers for the help.
  • zippychick
    zippychick Posts: 9,364 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
    My advice would be.....

    Years ago i had ccs and ran up debts and never understood. I have just taken an easyjet cc to get he £40 flight credit and this is how I am managing it

    I rang the company and asked what my statement date is = 11th of month
    I asked how long i have to pay it before interest is earned = 25 days after statement date

    So if i made a purchase today, it would show on tomorrows statement and i would have 25 days to pay this - around 5th april.

    If i waited until after the statement date, (say thursday), it wont show until Aprils statement, so I will then have until approx 5th May to pay it , without earning interest.

    I set up a bill payment from my bank account , which means I control the amount sent and when. When i make a payment, i do allow 5 working days for it to get there.

    They keep trying to get me to set a direct debit off, but i would rather be in control of the payments. SO i just log on my Internet banking, go to bill payment *the cc company will give you a Sc, acc no and ref no to do this*, and send the money

    I would only recommend this method if you are quite astute and on the ball! HTH
    A little nonsense now and then is relished by the wisest men :cool:
    Norn Iron club member #380

This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 343.7K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 235.9K Work, Benefits & Business
  • 608.9K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards