Payment Notices:

tomxlisa

I have a catalogue account on my credit files with loads of on time green payment ticks for the past 18 months or so, anyways i am looking to clear the balance on the account soon so i don't have to keep paying the monthly payments, (i know its always best to clear in full every month but i couldn't afford to before and didn't mind paying the interest) my question is if the balance is cleared and i keep the account open with a £0 balance will i still get the green ticks every month even though i have stopped using the account?.

QuietOne

I think you will still get green ticks as your account is up to date. As long as you're not in the arrears then they still record it as up to date every month.

marty2be2000

Just remember the trailing interest. Following a full payment there will be a small amount of trailing interest to pay the following month. Essentially the interest accrued between the statement date and the date the full payment hits your account.

tomxlisa

Thanks for the info, will this still be the same with a credit card, if you pay it off and nothing is left on it, will you still get the green ticks, as i always thought to get the green ticks you need to use the card, as the green ticks show you have paid on time, and if no payment is due then you get no green ticks for those months, that's what i thought anyways?.

tomxlisa

Advice on my above post when you can, as I am gonna be paying off my credit card soon, thanks.

QuietOne

I was under the impression that if there is no payment due then you still get green ticks/dots as your account is up to date. As long as the account is still open, whether you're using it or not. They still mark it on your file as a green tick.

tomxlisa

That's brilliant if this is the case, maybe some others will come on here to confirm it.

CAPTAINBLONDECHICK

It may depend on who the account is with. Just as an example, in the past year I have cleared two catalogue balances. I didn't close either of the accounts, they are just currently sitting with a nil balance. In my credit reports with each of Noddle and Clearscore, these accounts actually show in the "settled" section as if the accounts are no longer open - but they in fact remain open, I can log in to each of them and the same credit limits are there for me to spend. I assume though if I were to place an order, the accounts would move back to the "current" section, but while they are sitting as "settled" there are no green ticks being accumulated (the accounts weren't ever in arrears of any kind, if that is relevant).

stclair

tomxlisa wrote: »

That's brilliant if this is the case, maybe some others will come on here to confirm it.

I have a Littlewoods account not used in nearly a year and it still updates with greens.

tomxlisa

I guess it would be a matter of trying and seeing then, if it doesn't update with the green ticks then that's pretty crap as you would have to keep buying or keep a balance just to be able to build a credit history, I wonder what the situation with credit cards is as I am gonna clear my capital one soon but would still need the green ticks as I am building my credit at the moment, same with my argos store card.

chanz4

I have an empty very account, still reports ok