Is it worth paying a CC off fully?

ferry

Hopefully next month I should be in a position to fully pay off the outsanding bal on my CC.
Should I leave a small balance on there and just set up a DD to pay it off in full each month or leave a bit of a lump sum -say £500-but not pay it off just to keep a good credit rating

Not sure what to do.....
Ferry

jonesMUFCforever

The only thing not paying the card will give you is a bill for interest.
If you have the money do it!

Keeping your good credit rating is simple - keep paying all of your bills on time and do not borrow more money than has been authorised.

JohalaReewi

Unless this is a 0% interest card, pay it off. Leaving a balance on a credit card is expensive and just paying the minimum each month by DD extends the expense for years. You should always pay off CCs in full each month if you can afford to.

MrGreen

If your in a fortunate position of be able to pay off the balance then do so and if you want to keep the card then to help your credit rating spend on the card and pay off the balance on time each month. This should help your credit rating and it won't cost you any extra interest charges.

nemeth782

If, like me, building your rating is your primary aim, clear the balance this month then continue to use the card, maybe for your fuel purchases each month, clearing the balance on payday every month.

This means you will never pay any interest, there will still be payments being made, and your credit rating will continue to improve. If you only allow yourself to use it for fuel, you shouldn't overspend on the card unless you decide to randomly drive about the whole country.