Rebuilding Credit Rating....?

geordie_ben

Hopefully a quick question (i say that everytime haha)

I have a not-so-good credit rating but i'm on the mend :j

My next step is to start spending on my credit card then paying it off in full every month (my petrol every week)

The question is, does the amount I'm charging to the card matter?

Is spending £5 on the card and pay it off in full every month, the same as doing it with £20?

Or will it look better the more I spend and pay off in full?

Tixy

From the info I've seen I suspect it doesn't make much difference. Either will prove you are handling credit responsibly.

Using the card for your petrol sounds a sensible plan.

geordie_ben

Fankadoooodle Tixy!

crapwithcash82

I had it in my mind that it was £30? Not sure maybe I’m rambling!!

I’ve done the same to try and “repair” or rebuild my credit score. Only provider that would look at me was Vanquis so I have a Vanquis card which is used for Car related stuff only. Who is it you have your card with? Mine was initially just fuel, but this month had to use it for a repair too L Never mind, I WILL have it paid off in full this month!

geordie_ben

crapwithcash82 wrote: »

I had it in my mind that it was £30? Not sure maybe I’m rambling!!

I’ve done the same to try and “repair” or rebuild my credit score. Only provider that would look at me was Vanquis so I have a Vanquis card which is used for Car related stuff only. Who is it you have your card with? Mine was initially just fuel, but this month had to use it for a repair too L Never mind, I WILL have it paid off in full this month!

Mines with Virgin, but its an existing card that I've always had. Only petrol will ever be going on it and it will always be paid in full every month. I've got enough cash for other things.

I might put my whole month of petrol on it, then my money allocated for petrol can sit in my account earning some (ok, very small) interest

crapwithcash82

Sounds like a good idea Geordie_Ben, as they say, every little helps!

I love your signature by the way - although I'm too scared to work out how many days until I'm debt free!

Good Luck with your plan!

geordie_ben

thanks crapwithcash82!

You should work it out, its a good way of setting yourself goalposts and trying to reduce it even more. I might even be debt free in 167 days if everything goes to plan! but i'm still very happy with 228 days. £12,500 paid off in 602 (or 541) days aint too shabby