RISE VISA CARD Full balance payment help!!!!! Please!!!

JimmyTheWig

I agree with Clapton.
If you've qualified for a different card then give the Rise a miss.

No idea how long it takes. Depends on how bad you were to start with. I'd say 6-12 months for the credit card to start having an effect.

Not quite sure what you mean on the second question, but I'd say use the Vanquis each month and pay in full (on time!) each month.
Close the Rise as you'll pay for it even if you don't use it.

Garzi21

What I ment with the second Q was.
Is it best to pay off the full balance or is it best to pay off most of the balance and leave a little bit to gain a slight bit of interest?

I read somewhere that companies like to mk money off you with the interest (which is obvious) and by paying the full balance off off each month they will not b making any money. Showing other lenders that even tho you are good with your payments. There's not much point of them giving you credit because they are not going to mk any money from you.

Is this true? Or another one of those credit myths??

sharpy2010

Ive got one of these Rise cards, but I've never been charged for having it. They made me pay £20 to activate it (which they put as credit on the card)... Well, thats mine, so I wanted it back, and spent £19.99 on the card.

The bill duly came through, meaning I was 1p in credit.

I've not used the card for the last four months so it still has that penny credit on.

Could be a way of avoiding the £3.50 monthly fee, for those who are disciplined enough to only keep the card for emergency use?

Eonel

Garzi21 wrote: »

What I ment with the second Q was.
Is it best to pay off the full balance or is it best to pay off most of the balance and leave a little bit to gain a slight bit of interest?

I read somewhere that companies like to mk money off you with the interest (which is obvious) and by paying the full balance off off each month they will not b making any money. Showing other lenders that even tho you are good with your payments. There's not much point of them giving you credit because they are not going to mk any money from you.

Is this true? Or another one of those credit myths??

Its a myth. Pay it off in full each moth.

JimmyTheWig

Garzi21 wrote: »

What I ment with the second Q was.
Is it best to pay off the full balance or is it best to pay off most of the balance and leave a little bit to gain a slight bit of interest?

I read somewhere that companies like to mk money off you with the interest (which is obvious) and by paying the full balance off off each month they will not b making any money. Showing other lenders that even tho you are good with your payments. There's not much point of them giving you credit because they are not going to mk any money from you.

Is this true? Or another one of those credit myths??

Different lenders will score you differently, and it's impossible to say.
But in general, and certainly so in these difficult times, they want to see someone who can afford their debts.

Paying off in full shows this best.

mag21

They are USELESS!!!I made a mistake when I applied for a card with RISE, their customer service is poor, they can barely speak English and the line is always faint. I had a balance of £300 and paid about £60 a month a min payment. I have recently cleared my balance and asked them to close it. They refused saying I needed to send them a proof of ID. They didn't need that when I was making the payment??? I sent them the documents 1st class a few days ago and they're still saying they haven't received them. Once I close this account I will ask them to refund me the money for the phone calls I had to make trying to explain to them s l o w l y that I wanted to close my account.
USELESS!!!

UsetheFORCE

sharpy2010 wrote: »

Ive got one of these Rise cards, but I've never been charged for having it. They made me pay £20 to activate it (which they put as credit on the card)... Well, thats mine, so I wanted it back, and spent £19.99 on the card.

The bill duly came through, meaning I was 1p in credit.

I've not used the card for the last four months so it still has that penny credit on.

Could be a way of avoiding the £3.50 monthly fee, for those who are disciplined enough to only keep the card for emergency use?

My missus has one of these, whenever the statement balance is in CREDIT, she hasn't had a charge levied at all.