Credit Builder Cards, Too Many Harmful?

matttye

carlbcfc wrote: »

Para 1. Credit searches, especially 3, will lower the 'score'. It's just a guide for me.

Para 2. Amongst all the helpful people on this site, there are those that love nothing better than to be a smart !!!! and drag things off-topic.


Does it matter how little I use each month? Is a positive payment report for say £5 viewed the same as £30 does anyone know?

Shouldn't make much of a difference but it is commonly said that you should use no more than 50% of the available balance each month.

carlbcfc

redcard wrote: »

There's 100s of identical threads all over MSE.

The answers are always:
- You wasted money on a worthless score
- No one knows

Might as well close the forum then..

redcard

carlbcfc wrote: »

Might as well close the forum then..

You didn't bother to read it, so you may have a point.

matttye

Might I suggest either ignoring repetitive questions or copying/pasting a standard response rather than posting sarcy comments which help no one...

carlbcfc

redcard wrote: »

You didn't bother to read it, so you may have a point.

Have you really nothing better to do than come on here and have a moan? Do you not have a family you can spend some time with instead?

Comments like that do this site no good. I hope a mod is watching you.

Jason_Bourne_2

I'm just out of DMP and I don't have a credit card.
I have a mortgage of 8 years and never missed a payment.
2 mobile contracts, one Vodafone and one O2. One over 6 years, one 4 years, no missed payments.
I got one of those cash plus cards then paid the annual subs in so I never miss a payment.

Will a credit card improve my file or should I just keep doing what I'm doing?

purple_purple

It temporarily damages your credit file as you may know, but you are correct in thinking that it will make you look better because these aren't high limit accounts it just show that you have self control in the respect that you effectively have assess to 1.5k worth of credit and you aren't maxing them out and paying the minimum every month.

With no more searches and paying the card in full when the statement arrives a 6 months from now your file should look much better than it does now.

Good luck!