what do i do here..Help me make a decision

BlushingRose

quintwins wrote: »

i use my card for day to day living (i have no debt btw) but in order to build up my credit rating, as a rule i never spend more than i have in the bank, also it's helpful with budgetting as it's all in one place, creditcards can be good things if used properly, if not there a timebomb

Ah yes, I can see how it would be helpful to bring up the credit rating, but it worries me that the OP is using the card for day to day living expenses. Might it not be better to pay the card off, use the cash for the day to day living expenses?

hadahardyear

ok i took a deep breath and paid the capital one progress card off . Thats £169.93 gone straight away.
I typed in my password and closed my eyes to transfer haha.

I have £120 sitting in my isa, and £200 in my purse, plus £190 in my purse as well.
WHat to do now.
IS that enough for tonight x

quintwins

BlushingRose wrote: »

Ah yes, I can see how it would be helpful to bring up the credit rating, but it worries me that the OP is using the card for day to day living expenses. Might it not be better to pay the card off, use the cash for the day to day living expenses?

i guess it depends on the person holding the card, also if your savings account gives you monthly interest it can be useful having nearly 2 months to pay something, every penny counts :money:

but you might have a point since the op has all her cards very close to the limit, only the op can know whats best for her

quintwins

throw any money you have left at your vanquis you don't have to pay it in full, anything you pay towards it will mean less interest

BlushingRose

quintwins wrote: »

i guess it depends on the person holding the card, also if your savings account gives you monthly interest it can be useful having nearly 2 months to pay something, every penny counts :money:

Savings account? :rotfl: We wish...

quintwins wrote: »

only the op can know whats best for her

very true...

quintwins

BlushingRose wrote: »

Savings account? :rotfl: We wish...


very true...

lol i'm very lucky to be debt free, i have a huge aversion to debt from years of seeing it go horribly wrong for my mum the only credit we have is a next account and a creditcard, a new thing for me was treating my savings account like a bill, i set up a standing order and don't take money out, before that my savings account was just there to look pretty :rotfl:

MFWannabe

I would pay off the Cap One and Aqua and close all three cards. Then concentrate on paying off Vanquis.
If you have truly had your lbm then you won't want to keep these cards open; it will just be a temptation to spend on them again.
You mentioned keeping one and paying it off in full every month; how can you guarantee you will definitely do that? You are at the moment already up to limits on all cards and owe your dad quite a lot of money

hadahardyear

im definitely keeping the cards.

they were there in the purpose of increasing my credit worthiness, and have done that. Closing them after only being open 7 months will not demonstrate stability

I have already paid my dad over £1500, what's left is the remainder now, which is being paid off at £50 per week.

J4mes

Sorry to repeat what almost everyone has said, but would it not be best to pay as much as possible off the Vanquis card??

hadahardyear

ok have paid another £45 off the other capital one Classic.
So just leaves the ones on my signature. I am going to pay £400 off vanquis at the end of this month then the remainder at the end of Feb and make additional payments to the Aqua throughout this month