2nd credit card

edited 30 November -1 at 1:00AM in Credit Cards
17 replies 1.6K views
2»

Replies

  • desthemoanerdesthemoaner Forumite
    170 Posts
    Part of the Furniture 100 Posts Combo Breaker
    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?
  • grumblergrumbler Forumite
    54.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    ... 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).
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • chuckleychuckley Forumite
    4.4K Posts
    Part of the Furniture
    ✭✭✭✭
    never rely on one CC, it WILL fail.
  • desthemoanerdesthemoaner Forumite
    170 Posts
    Part of the Furniture 100 Posts Combo Breaker
    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?
  • 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.
  • planteriaplanteria Forumite
    5.3K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭✭
    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.
  • desthemoanerdesthemoaner Forumite
    170 Posts
    Part of the Furniture 100 Posts Combo Breaker
    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.
This discussion has been closed.
LATEST MSE NEWS AND GUIDES

Cut overdraft charges

10 tips to pay less for your overdraft + how to pay it off

MSE Guides

FREE tennis coaching

Find your nearest session and pre-book your place online

MSE Deals