How long until Payday loans leave credit history?

Bravehearted_2

consumerism wrote: »

ok, using the account regularly increases your score so utilising any overdraft applied, using DD's and SO's, opening a savings account and moving even a tenner a month into it, taking small cash amounts out of ATM and lots of debit card usage gives you the best scores as in essence the bank can see what you spend and how you live. If you get paid and then withdraw it all or move it to another main account then your score will stick in the 40's which is literally enough to get a current account with debit card.

Its called playing the game, you'll soon see things get better if you use HSBC regularly.

On this point, what about people who have cashback credit cards at very good rates? They tend to spend AS MUCH, if not all on the CC, then pay back in full. So they tend to have little debit card usage.

Any view on this? Thanks.

gingeralan

Bravehearted wrote: »

On this point, what about people who have cashback credit cards at very good rates? They tend to spend AS MUCH, if not all on the CC, then pay back in full. So they tend to have little debit card usage.

Any view on this? Thanks.

Nothing wrong with that, just means you would have a lower internal credit score with HSBC. Not the end of the world.

dealer_wins

Young and earning £70K.

Rather than worrying about credit cards you should be worrying whether it takes you 5 years or 10 years to save up £100K and give your life a lovely cushion of security and luxury!!!