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Re-building a credit rating with a credit card.
Domane
Posts: 7 Forumite
in Credit cards
Hi, I'm sure this is an old chestnut but we finished paying off an eight-year DMP with Stepchange last autumn for over-committment of credit. I applied and received a Vanquis credit card just before Christmas, with a view to rebuilding a credit rating. They gave me a credit limit of £500 but I have to admit that I feel like I've learned my lesson and I've surprised myself by being scared to use it! 
I suppose it is understandable to be a bit wary but could someone clarify this for me please......?
Do I need to use the card and be charged interest for it to affect my rating or can I use it and pay it off in full on each statement? Does that work too?
Thanks in advance
I suppose it is understandable to be a bit wary but could someone clarify this for me please......?Do I need to use the card and be charged interest for it to affect my rating or can I use it and pay it off in full on each statement? Does that work too?
Thanks in advance
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