Clearing cards

Smamfer

Hi.. Advice pls, ill keep it short n sweet

Got some money and able to pay off some cards,

Total debt lets say 5k for arguments sake

this includes 3 cards

Cap 1 bal - £1513.27 > Limit £1800
Halifac cc Bal £1388.00 Limit £1500
Barclaycard Bal £882.46 Limit £1200

When paying balances am i better to clear the whole lot and have nothing, or am i better to keep say £20/30 balance on and clear it in full each month to help me earn credit.

Thanks

[Deleted User]

Clear it all. Then use regularly and clear in full each month.

MadProf

Smamfer wrote: »

When paying balances am i better to clear the whole lot and have nothing, or am i better to keep say £20/30 balance on and clear it in full each month to help me earn credit.

Hello

Pay the lot off now - do not keep a balance on it now as you'll still incur interest on that £20/£30 until it's paid. Then, once your cards show a 0 balance you can spend minuscule amounts (or up to 30% of the limit if you're capable of paying it off each month) on the cards and pay them off in full every month.

Smamfer

Thanks guys, i had presumed that was the wisest way but didnt know if thats how i could keep earning credit if i had £0 balance, but as you rightly said spend £10 each month and pay it off each month will still earn me the credit

Thanks