Capital one credit card

dannyfleetwood

I have got one of those "credit building" cards from Capital One. I have myself on limit of only spending £80 per month out of the £200 limit on the card.

I have set Direct Debits of the full payment to come out of my bank account on the same date ever month.

If I pay the balance off now (22 days early) - will this still give a positive on my credit report? or is it best to wait until they take it out my bank?

Also, is making the full payment actually worse thank making the minimum payment?

Kezia2911

Hello Danny. As far as your credit card goes, the only things to do to keep a positive impact on your credit rating is to use the card on a regular basis (doesn't have to be for a huge amount but builds up a history with your credit card issuer - this can also help the issuer decide whether or not to offer you a credit limit increase), pay at least the minimum payment, make the payment on time and to stay within your credit limit. Making early payments or paying in full will not advance your credit scoring. The only difference is with the minimum payment, you will incur interest whereas with the full payment you won't.

camuk81

There is also a new marker though I am unsure if this is available to lenders which shows if you only make the minimum repayment