Rebuilding my credit rating with credit card

VikingCraft

Hi this may sound like a silly question but,
my credit rating is pretty low and i currently have around £1300 outstanding on a credit card. but i am currently able to pay it off in one if needed, but which would help my credit score more paying it all off now or putting the money to one side and make constant monthly payments until its paid off?

[Deleted User]

If you'd paying interest, then clear it in full. Ignore your score.

Victoriamia

Pay it off in full to avoid the interest then do very small purchases n just clear them each month

Anthorn

VikingCraft wrote: »

Hi this may sound like a silly question but,
my credit rating is pretty low and i currently have around £1300 outstanding on a credit card. but i am currently able to pay it off in one if needed, but which would help my credit score more paying it all off now or putting the money to one side and make constant monthly payments until its paid off?

6 of 1 and half a dozen of the other. In order to keep building your credit history you need ongoing credit. If you pay it off and don't have any more credit, rebuilding your credit history is done. So therefore if you pay it off you need more credit to keep the rebuilding going. For many on MSE that's a cycle of rolling credit where every statement the balance is cleared and then a new balance created again to be cleared.