Credit Card...

Pressleyno1

I have a £100 limit on my credit card, the rat is... 15.9% variable. I've had it for a while and use it for purchaces from time to time. Right now I have only got a about £20 credit in it.

Now do you think it'd be better if I was just to either keep paying too it every month, or just pay it all off outright and get rid of it all together ?

rchrisp

pay it off and get rid if you can afford to do so. thats a high interest rate.

woodfairy

I believe it's better for your credit rating to pay off in full (or at least as much as you can) rather than just making the minimum payments each month.

Red_Fraggle_3

Can you pay it off - then just use it once a month for petrol and pay it off straight away - that way your credit limit will improve if you want it too ?

roswell

Wow I take it you are either young or havent had cedit before going by the small limit, I would keep it but make sure you pay it all off in full as you use it, The rate may not be the best but the protection it gives you when buying online is worth its weight in gold.

Keep the card to build up your rating, pay off ALL or as close to all as you can each time you use it and let it biuld up your creditworthyness (im sure i just made that word up)