Paying off credit card in full

dzug1

wallsy wrote: »

Hi
I do use my credit card every month but pay it off in full evey month. Is this a waste of time? Should I even bother using it?

What is your objective? It could be a waste of time, it could be the best thing you could do.

Moggles_2

wallsy wrote: »

I do use my credit card every month, but pay it off in full every month.

That's the best policy, IMO. If you only ever spend what you can afford to pay back on time each month, you never pay any interest.

Is this a waste of time? Should I even bother using it?

There's risk attached to everything but, in general, credit cards are the safest way to purchase goods/services. (If you carry cash, it could be nicked. If you use cheques, they could get altered - assuming you can find a retailer that still accepts them :rolleyes:)

With today's online facilities, it's never been easier to keep track of cc spending than it is now and, used sensibly, they have many advantages, IMO. They make sense from a credit rating point of view too

That said, if you simply want to build a nice string of zeros on your credit files, it's not necessary to spend on the card

BigAndy_79

YorkshireBoy wrote: »

Not so strange considering you're a "staff member"...unless you've left them in the last 3 weeks?

If you have (or have the potential to have) two 'mainstream' Halifax cards, why did you feel you needed to "better your credit score" with a Vanquis card application last month?

Just curious.

Hi.

Basically 'cos I was told that my credit score wasn't high enough to be accepted for a Tesco credit card. That was the one that I was realy after...

Moggles_2

BigAndy_79 wrote: »

Basically 'cos I was told that my credit score wasn't high enough to be accepted for a Tesco credit card. That was the one that I was really after...

Have you looked up your credit files recently? For links, see page 1 of the *How to obtain credit reports* sticky. Experian encloses explanatory notes which are a good read as well.

Once you know what lenders see (and what they don't), you're in a better position to improve their opinion

BigAndy_79

YorkshireBoy wrote: »

Not so strange considering you're a "staff member"...unless you've left them in the last 3 weeks?

If you have (or have the potential to have) two 'mainstream' Halifax cards, why did you feel you needed to "better your credit score" with a Vanquis card application last month?

Just curious.

Being a staff member doesn't bear any effect on the outcome of the application, tbh. Nor does it on a bank account app. You actually have to get them to put a staff indicator on the account to get the benefits once you have opened and activated the account.

The reason why I got the Vanquis card was mainly because you get 20 quid through Quidco. Martin also advised getting one of these cards and paying it off in full. Thought I might do this in order to help increase that score a little bit...