Quick question about creditors and new credit card.

20kdebt

Hi, hoping for some quick advice!

I have defaulted on my debts, currently paying £1 token offer to all of them.

Capital One sent me a credit application and I filled it out, they have now given me a £200 limit credit card - I learned that using this will help to improve my credit rating.

My questions is this: Should I be using this before I start paying my creditors off in full monthly payments or wait?

My concern is that they will see on my credit file that I am settling a debt each month and will expect this for their debt as well...

Thanks for your help!

matttye

You're supposed to treat your creditors equally, so like you say it might upset them.

Personally I'd wait until you've settled your other debts.

20kdebt

matttye wrote: »

You're supposed to treat your creditors equally, so like you say it might upset them.

Personally I'd wait until you've settled your other debts.

Thanks for the advice!