2nd credit card

desthemoaner

Forgive my intervention, but I'm fascinated to hear that having a credit card but not using it might have a negative effect on one's credit score. I have a Cap One card with a hundred quid on it, and a Barclaycard that I haven't used for over 12 months.
I'm now wondering whether I should make a small purchase on the B'card so that I don't plummet into the credit score doldrums. Is that really likely?

grumbler

desthemoaner wrote: »

... I'm fascinated to hear that having a credit card but not using it might have a negative effect on one's credit score.

Where did you hear this?

I have a Cap One card with a hundred quid on it, and a Barclaycard that I haven't used for over 12 months.
I'm now wondering whether I should make a small purchase on the B'card so that I don't plummet into the credit score doldrums. Is that really likely?

I don't think that this is needed, but it can, possibly, have some small positive effect (that isn't the same as a negative effect if not used).

chuckley

never rely on one CC, it WILL fail.

desthemoaner

Grumbler: "Where did you hear this?"


I was referring to to your quote above in response to the OP, where he or she said: ... "will keeping my Aqua card, but it not being used, have a bad effect on my credit rating?"


to which you said:"No, unless its limit is very big (unlikely for Aqua)."


It was the use of the word "unless" which indicated to me that not using a card could negatively affect one's credit rating.


Did I misinterpret your response?

Gouki7851

I believe grumbler meant if you have a high credit limit to income ratio this can negatively affect your credit worthiness. But as aqua do not give high limits this is unlikely. Not using a credit card will not have a negative affect , unless the issuer lowers the limit which may make your utilisation of credit higher, which could have an effect.

planteria

chuckley wrote: »

never rely on one CC, it WILL fail.

i wouldn't agree with that. i have had anywhere between 3 and 24 in the past few years, but i am careful. for many people using 1 card for spending and repaying in full each month is a great little system. and if they can carry a debit card in their wallet too, just incase, they could well be in a good position.

if it wasn't for stoozing, i would happily just have my Amex Cashback and spend on a debit card in the occasional place that doesn't accept Amex.

desthemoaner

Gouki7851 wrote: »

I believe grumbler meant if you have a high credit limit to income ratio this can negatively affect your credit worthiness. But as aqua do not give high limits this is unlikely. Not using a credit card will not have a negative affect , unless the issuer lowers the limit which may make your utilisation of credit higher, which could have an effect.

Right, I see. Thanks for clarifying that.