Are high-interest cards better for improving your credit rating?

Sawyl

I often see high interest cards like Capital One and Vanquis recommended for improving your credit rating, but one thing that's never clarified is (a) whether they actually have a better effect than other cards, or (b) if they're only being recommended because they're more likely to accept people with bad credit.

As someone trying to improve his credit rating, should I be still be targeting these high-interest cards if I can get accepted for more "average" cards? For example, will my Co-operative Charity card be equally as good for my credit rating as a Capital One?

Thanks.

Simon_Preston

It's the latter. That they are designed for people with poor credit histories. Any credit card well run will improve your credit rating.

Moggles_2

Welcome to MSE!

The high-interest cards are recommended because they're more likely to accept applicants with a poor credit history or next to no history at all.

As far as your credit rating's concerned, your Co-op Charity card will be just as effective

stephane_2

If you already have a co-operative CC and your account is well run then don't bother with the capital one card. This type of card is only suitable for people with a poor credit rating, which eventually help them to improve it by showing that they can manage their finance more efficiently.