Credit card and credit score

reddeb37

Hi
I've just done a balance transfer fom my hsbc card to a virgin card.
Therefore my hsbc is at zero balance , I was going to use the hsbc card to now increase my credit rating by using it like a debit card and paying off the full balance each month . Will my credit rating improve by doing this or will it stay the same as I have £4000 on the virgin card ?
Thanks

[Deleted User]

If you're carrying a BT on another card, then it's better to keep your purchases on a separate card in any case to avoid paying interest on them.

YorkshireBoy

Despite carrying roughly the same debt, you now have at least £4,200 more available credit. This will be a negative factor for a short while...possibly longer depending on your income and other financial circumstances.

DCFC79

Forget what your credit rating is as its not seen by lenders hence its useless.

pvt

Your 'credit score' is being calculated by people who do not know how much you earn, or what savings you have. And, as DCFC says, cannot be seen by lenders.

So how useful do you reckon it is?

Nasqueron

Using the cc and paying off in full looks good for responsible borrowing

Carrying a BT on a card will count against you as you're not clearing it every month (pay minimum + say £5 or whatever to "game" the system into not reporting you as paying minimum) - if you want another BT card or purchase card then you may need to close the other card