Credit card - minimum payment market on credit report

Nath4n

Hi,

I'll try and make this brief as some people can go into too much detail on this board!

Basically I have two credit cards (now that Aqua has closed). Halifax clarity reward, and CapitalOne World Aspire.

I use the Capital One from time to time, when I want to get the 0.5% cashback, however there have been stretches of several months at a time where I haven't used the Capital One card at all.
To keep it active I've had a £4 monthly charge coming out on the card which has been paid off in full monthly via direct debit.

Now while I have been paying it off in full every month, I have also only technically been paying the minimum balance (as it has been below £5).

I have just checked my Experian credit report to find months and months of 'M' payment markets which indicates that the minimum balance has been paid.

Whilst technically this is correct, it is only because the full balance each month has been equal to the minimum payment required.

Does this have any effect on my credit score/rating, should I stop doing this, and is there any point disputing the many 'M' markers on my credit report?

Thanks in advance

thenudeone

The reports should also state the outstanding balance each month, so in theory, it shouldn't create a problem, but since so much credit scoring is automatic, it could do so.

I'd suggest raising it as an issue with the card company and the CRA. In reality, you've paid the full balance, and that's what I would expect to see on the report.

reclusive46

I've seen that before. On Equifax I've seen the Minimum payment marker and the FPM (Full payment made) marker on the same card on the same month. I don't imagine it would cause any great trouble.

SuperAllyB

Any way you could up the charge to £6 a month?