Improving credit rating with card. Do I need to max it?

Wasteofspace

I got a credit card with Vanquis mainly to improve my credit hisory as I don't really have one at all. Since this is my aim my question is this, does it matter how much I spend on the card? or is it all the same?

If I buy a coffee on it every month and then pay it off will this improve my credit history or will I need to spend closer to the limit say £200?

I'd rather play on the safe side and keep it to a minimum if possible, else I'll do all my day to day spending on it (good budget for me anyway) and pay it off each month.

Thanks in advance, and I know this probably get asked evry five minuets, apologies!

ironlady2022

Vanquis is for people who have a 'bad' credit history and have been refused for some reason. I would not recommend this card as interest rates are very high and if for whatever reason you miss a payment or get a late payment then the interest really hits you. However you have got it now so might as well work with what you have. You don't need to spend vast amounts to improve your credit rating. It's a case of spending on it and paying it back in full and on time! Then the bank is able to see you are able to borrow short term and pay back. I qould keep to the mark of £100 spend per month.

Wasteofspace

Thanks for the reply

I kept getting rejected for other cards so tried Vanquis to start with. Rest assured I have no intention of borrowing on the card! Crazy crazy rate!

ironlady2022

Ar right, that would make more sense. Just don't spendfor the sake!

izools

mayling03 wrote: »

I qould keep to the mark of £100 spend per month.

Agreed, keep the spend to under half your limit - creditors can mark you down for having a high "debt to limit" ratio.