Help with credit rating.

spursoliver

Hiya
Was wondering if someone could give me some advise on how to get my rating better.

Up until recently I have had a lot of money on credit cards, about £9,500 on one card, £4,200 on another and £2,300 on another.
My Mum kindly gave me £10,000 to help pay off some debts and I now have managed to only have the one credit card with £7,000 on it with 0% for 6 months.
my question is, what is the best thing to do with my other 2 cards? Is it best to get rid of them all together, keep them and never spend on them or just use them a little throughout the month and pay it off again straight away as soon as the statement comes? Or any other advise?
The only issue I have is that in 6 months time when the 0% ends on my card I may need to try and transfer those funds to an existing card if they are offering 0% on balance transfers or a cheap rate. I know that one card will almost certainly not offer a 0% deal but the other might. The card that may offer it only has a limit on it of £2,800 which wouldn't be enough, so whatever I can do to either get that limit raised, or somehow apply to get another card (assuming I've already cancelling the two not in use) with a 0% on balance transfers if my rating has managed to go up at all.

Many thanks for any help.

jonesMUFCforever

I would keep one as an emergency - only you can not spend on it.
Surely you can use the minimum payments on the old cards to greatly reduce the outstanding money on the card that is left?

spursoliver

I will be paying off as much as I can afford :-)

jonesMUFCforever

spursoliver wrote: »

I will be paying off as much as I can afford :-)

That is not answering the question is it though?
You have had a wonderful gift from your mother but I get the impression there are other issues you have not addressed about over spending?

SuperAllyB

jonesMUFCforever wrote: »

That is not answering the question is it though?
You have had a wonderful gift from your mother but I get the impression there are other issues you have not addressed about over spending?

Anything to do with the fact that the OP received to £10k to put towards £16k of debt and had £7k left?:eek:

spursoliver

jonesMUFCforever wrote: »

I would keep one as an emergency - only you can not spend on it.
Surely you can use the minimum payments on the old cards to greatly reduce the outstanding money on the card that is left?

I think I may have misread this the first time hence the answer I gave, can I assume you mean that I transfer the money to those two cards? If so I have already transfered the money from those two cards onto the one card to not pay any interest. In response to your other statement, I have greatly reduced my outgoings and any spending is in control, the question wasn't about my spending it about knowing the best thing to do with excess cards to give me the best chance of upping my rating.

spursoliver

SuperAllyB wrote: »

Anything to do with the fact that the OP received to £10k to put towards £16k of debt and had £7k left?:eek:

Naturally the sums don't add up, but I've just given roughly my circumstances to get to the point of the advise needed, without trying to bore people too much.