quick credit card / report question

supermanjo

Hi

I've been following my creditexpert report and have a question.

If I use my creditcard and clear the balance in full right before my statement, does it show up as "£0" used for that month on my credit report?

Thanks!

bonus question:

I phoned in and they told me that I need to pay in only 20p for last month statement. However, I also have made purchases last month and they told me it would show up on next month’s statement. If I paid off my account in full this month, will it show up on my credit report the previous balance of £300 with no payment being made even though I cleared it before the min payment was due?

Rafter

1. Add depends when your card company submit the file information, but generally your statement balance gets shown so if you paid in full before the statement it could appear as £0.

2. Bonus question. As long as you make the required minimum payment then your account will not show as overdue or as no payment made.

3. Observation. Never pay the minimum balance as interest is backdated to the date of purchase and any future purchases also become interest bearing until you pay off your statement in full. Even then you are likely to get 'trailing interest' from the date of your statement till the date you made the payment in the following month.

R

supermanjo

Rafter wrote: »

1. Add depends when your card company submit the file information, but generally your statement balance gets shown so if you paid in full before the statement it could appear as £0.

2. Bonus question. As long as you make the required minimum payment then your account will not show as overdue or as no payment made.

3. Observation. Never pay the minimum balance as interest is backdated to the date of purchase and any future purchases also become interest bearing until you pay off your statement in full. Even then you are likely to get 'trailing interest' from the date of your statement till the date you made the payment in the following month.

R

I know it won't show as missed payment (I think that’s what you meant) however, would it show as 0% owed? (which is what I want it to show. I need to drop my total borrowed percentage below 50% and the only way is if paying this month off fully will show up as £0 owed.)

Thanks Rafter.

supermanjo

anyone? ...