Credit Card Balance

Lumexar

I spend approximately £2,000 on my MBNA credit card every month, and pay off my statement balance in full by Direct Debit. Despite this, my credit reports (Noddle, Experian) both show a balance of around £1,200 month after month. This seems to be the balance currently on the card when MBNA report to the CRAs.

Is this normal? I don't carry any credit card debt from month to month, so I would have thought that MBNA would have reported a zero balance.

Thanks

HappyMJ

The statement balance is reported which is good. You don't want them reporting a zero balance each month as it would look like you aren't using the card.

You should only pay the credit card bill once a month on or before the due date as printed on the statement so the full activity is reported to the CRA's. Automatically paying by direct debit is a very good way of ensuring it's paid.

YorkshireBoy

Yes it's normal.

I'm not sure how the other CRAs show the details, but my Noddle account (which is CallCredit data) shows both the statement balance and the payment amount each month. Where you repay in full it will be obvious to anyone searching your file that you are not carrying a revolving balance.