Train Season Pass

Mr_Goodkat

dcouponzzzz wrote: »

Is the amount of available credit not a negative factor for future creditors?

Available credit is one consideration but so is credit utilisation so using £1k of a £5.5k limit looks a lot better than using £1k on a £1.5k card. Having credit and using it responsibly is a strong sign to future lenders.

A £5.5k limit is also small compared to your annual salary so again reduces the risk to future lenders.

You could look to use the credit card for purchases during the interest free period, pay just over the minimum repayment each month and save what you are spending on the card in a high interest account and earn yourself a few quid before paying off the card just before the 0% expires.

dcouponzzzz

Hey guys, so I'm just filling in the credit agreement to send back to Sainsbury's and I've got a couple of questions.

Is it best to fill out the direct debit form for 3% of outstanding balance (minimum payment is 2.25%)? Are there any preferred alternatives for arranging payments such as paying a fixed amount via standing order which will always exceed the minimum payment?

I will be receiving £2988 in August's wage payment for the employee 0% travel loan. Would it be acceptable to transfer this balance to my TSB account to take advantage of the 5% interest, whilst paying the 3% minumum CC payments? Or is this some form of dodgy balance transfer that would have interest related repercussions?

Thanks in advance