My Credit Score has just plummeted 260 points overnight

Hazzinho

The other thing that matters is income. Someone with £10k debt on £50k is more appealing the someone on £20k even if their credit reports are exactlly the same.

maddox2003

Hi

My score on credit expert (experian) also dropped by 149 points as i maxed out my card. Once it updates again you will get the points back.

Capital One update my credit files between the 1st and the 10th of the month, so i always clear my card at the end of the month leaving only between £5.00 to £10.00 balance. I dont use the card then for over a week or so, i check my file every day of which i subscribe to all 3 (equifax, experian, call credit) once one of them updates with capital one i can then start using the card again.

I have a capital one classic card since may last year, they gave me £200.00 limit which meant just looking at the card meant my utilization was high. I have just applied for their progress card and got accpeted for £1000.00 which means now my utilaztion will be much lower.:beer:

[Deleted User]

maddox2003 wrote: »

so i always clear my card at the end of the month leaving only between £5.00 to £10.00 balance

That's insane. You're paying interest on the full amount for the sake of not clearing the last few quid?

blueberrypie

maddox2003 wrote: »

My score on credit expert (experian) also dropped by 149 points as i maxed out my card. Once it updates again you will get the points back.

And they'll still be meaningless.

Capital One update my credit files between the 1st and the 10th of the month, so i always clear my card at the end of the month leaving only between £5.00 to £10.00 balance.

What you're doing is daft. You clearly don't understand how credit-cards work. If you were to pay the balance in full, you would not be charged any interest. By leaving that £5 or £10, you are incurring interest on everything you used your credit-card for. And in case you think that it's helping your credit rating - it isn't.

bigadaj

It may not improve the credit rating but if I were a cc company then that would be my perfect customer, most of the money back and interest on top, perfect. I always clear my cards in full and wouldn't consider my business to be that attractive, I would want the interest if I were the cc company.

chanz4

Trust me they wont give you anything, your waisting your money

ejc81

maddox2003 wrote: »

I have a capital one classic card since may last year, they gave me £200.00 limit which meant just looking at the card meant my utilization was high. I have just applied for their progress card and got accpeted for £1000.00 which means now my utilaztion will be much lower.:beer:

They obviously don't like how your using it if you've had it that long and they haven't already given you an increase. It usually only takes 3 months for them to increase the limit.