A couple of credit card questions please?

sinner2winner

Hi everyone - last year I decided I had to get my debt under control so I decided that this year would be the year I clear my 3k vanquis credit card (yea yea next year lol ) well Im 1 month away from having it cleared !! To say I'm proud of myself is an understatement ! It has been mighty tough but i have nearly done it and shaved a few months of my target as I wanted to do it before christmas

Anyway I applied for another credit card with capital one which had a 35% interest rate instead of 49.9% and was accepted.
I don't need to use the card so my question is this .. will my credit score improve if i don't use it or will it just stay as it is?

I also had a luma card that i got as i was wanting to do a transfer but they didnt give me enough and have never given me a credit increase although ive never missed a payment and cleared it quite a few times.

Thanks for any advice given.

giblet10

Well firstly, well done on paying off your credit card, especially at those interest rates.

I don't know if it'll improve your credit rating, instinct says yes as it's more available money you will have managed well (assuming you don't get into trouble with it).

thebritishbloke

I'd use the Capital One card as your main card, and have a direct debit set up to pay it off in full every month to avoid any accidental mishaps. Congratulations on hammering down your debt! Make sure it's a lesson learned and avoid it happening again.

sinner2winner

Thank you - at times it was worse than giving up smoking lol but I did that and ive nearly done this

Thanks for your thought - it was what i was thinking too - showing I have turned in to a sensible borrower - That's what I was thinking