Purchase credit card harms credit score?

Thisismichalis

Hello all,

I want to buy a TFL annual travel card for £1200. I was thinking to get a new credit card for purchases and then split the spend by 12 months so each month I pay back the debt ( so will be paying around £120/month which should be over the minimum monthly payment)

Is this going to harm my credit score? I already have two credit cards which I rarely use and I always pay in full after less than a month ...


Thanks :money:

[Deleted User]

Ignore your score.

Lenders will take their own view on your increased debt but will also see the promo marker. I wouldn't be overly concerned.

Thisismichalis

Thanks for the reply.

Is this going to look like I'm borrowing money and not being able to pay back until a year after? Hence dropping my credit score?

YorkshireBoy

Thisismichalis wrote: »

Is this going to look like I'm borrowing money and not being able to pay back until a year after?

To whom?

Hence dropping my credit score?

What credit score?

redux

What is more important, a financial product you can use now, or a number that doesn't directly affect the next one you might apply for at some unknown time in future?

Ben8282

£1200 is not a large balance. Paying it back on a 0% card in 12 equal monthly instalments will actually look very good to potential lenders.
One thing concerns me from your OP. You say that you always pay your credit cards in full after less than a month. This is ambiguous. If by chance you are repaying before the purchases appear on a statement suggest you stop doing this. If not applicable, then everything seems fine.