Using credit builder credit cards to improve credit file?

Hairymonster

Got Noddle improve to try & work on my credit file & see where I am at, and also see what the jump may be like(if any) when Bankruptcy falls off in next months report- it's sitting between poor and very poor at the moment.

my credit score has went down the past 3 months from August it's went 572, 551, 548 & this morning 533 which is the lowest since June when I thought it would have been going up. I have been gradually increasing the amounts I have been taking each month on the credit cards; basically anything I can buy with a card i'm using these credit builders- but over 2 cards I have £250 & £500 limits but although I am using a lot I am always paying them off fully as I thought this would increase my credit score? I've been clearing varying amounts from £150-£600 each month which is fairly easy to do as after all bills I have about £1400 each month spare- so I pay fully then use throughout the month again.

I was hoping my score would start going up because of this but appears to be going down- why is this? I have had the cards for 5 months.... do they need to go down before they go up? i.e do they need to see that I can continually pay each month the full balance?

Is there an optimum % of the card limit to use when rebuilding credit file? i.e maybe 50% of the limit of each card? less than this?

In Noddle; under what's impacting your score?

it says: "The total balances on your lending have increased over the last few months"

BugsyBrowne

Your credit score is meaningless from CRAs so don't take NO notice of their silly numbers they dish out its whats on your file which counts.

Hairymonster

Ok thanks; what about the 2nd query of optimum amount to spend of limit on each card per month.... I read on another thread 30-40% is a good amount as shows you're not struggling for money but also willing to use credit... as long as I continue to pay off each month

Maestro.

don't spend more than 3/4 of it, and pay off most or all of it each month. Otherwise you will be seen to have signs of "debt stress".

If you don't pay in full, even if you are short by only £1, you pay the full whack of interest on the ENTIRE balance, so be aware.