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Paying minimum payment when stoozing

I have just read on another thread that if you pay the minimum payment every month on a credit card then a marker is put on your credit record showing that you have made a minimum payment, and that if these build up it could affect your ability to get future credit. Is this correct and if so does this not have implications for stoozing as it could badly affect your credit rating? Any advice on this would be great.



  • mathsmaster
    mathsmaster Forumite Posts: 56
    Part of the Furniture Combo Breaker
    I can only tell it as I've experienced it but I've been doing it for years and never had a problem getting a new card. For what it's worth, my free trial of Credit Expert gave a score of 999. I think maybe minimum payments on a 0% card are looked at differently - who on Earth wouldn't make the minimum payment?
    "You're never beaten until you admit it."
  • HappyMJ
    HappyMJ Forumite Posts: 21,115 Forumite
    It's very small don't worry about it.
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • alexmi
    alexmi Forumite Posts: 52 Forumite
    OK, thanks. I did wonder as it would have made the whole thing a bit less attractive than it appears to be. :-)
  • Thrugelmir
    Thrugelmir Forumite Posts: 89,546
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 31 August 2015 at 11:36PM
    The markers enable lenders to see if borrowers are churning their debts between accounts. New feature that was trialled for a while back in 2013/14. However seems to have been adopted by credit card lenders on a wider scale now.
  • No_6
    No_6 Forumite Posts: 835
    Part of the Furniture Combo Breaker
    I have only ever paid min and still do and still get the cards I want.

  • JimmyTheWig
    JimmyTheWig Forumite Posts: 12,199
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    There's also a marker to say that the card is at a promotional rate.
    I'd imagine that a lender would ignore the "minimum payment" marker is the "promotional rate" marker was also set.
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