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Credit Building POV
catieeb06
Posts: 576 Forumite
in Credit cards
Ok, question, I have around £400 in CC debt, nothing I'm not paying off with more than the minimum payment.
My question is, now that I have cashed in my premium bonds (well the envelope went off to them this morning)
Do I 1) Continue to pay off more than the minimum and bring my credit rating up to something that makes me a more attractive prospect for a mortgage in a couple of years time as i attracted a couple of defaults last year as a student.
Or 2) Do i pay off the CC with the cashed in premium bonds- totalling £300 so I know I would still have about £100 left to pay plus the interest.
I'm not struggling with the money side of things and can continue to make more than the minimum. This CC is being used for emergency purchases only so it's not going to be used on a monthly basis once this debt is paid off.
Cheers xx
My question is, now that I have cashed in my premium bonds (well the envelope went off to them this morning)
Do I 1) Continue to pay off more than the minimum and bring my credit rating up to something that makes me a more attractive prospect for a mortgage in a couple of years time as i attracted a couple of defaults last year as a student.
Or 2) Do i pay off the CC with the cashed in premium bonds- totalling £300 so I know I would still have about £100 left to pay plus the interest.
I'm not struggling with the money side of things and can continue to make more than the minimum. This CC is being used for emergency purchases only so it's not going to be used on a monthly basis once this debt is paid off.
Cheers xx
I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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