Will this harm my credit file?

SYHR

Me and my partner booked a holiday to the Dominican three months ago. Total cost £2,600. Paid so far £500. I'm paying off another £300 at the end of the month, leaving around £1800 outstanding. I have a Yorkshire Bank Gold MasterCard which has 0% on purchases until September 2018. Will putting the cost of the holiday onto the card, and paying off say £100 a month damage my file?

[Deleted User]

Lenders will see the debt, the rate of payment and the fact it's on a promo rate.

They'll consider that information along with everything else. It's not a question of it damaging your file - it's just further data for lenders to consider.

SYHR

Deleted_User wrote: »

Lenders will see the debt, the rate of payment and the fact it's on a promo rate.

They'll consider that information along with everything else. It's not a question of it damaging your file - it's just further data for lenders to consider.

Thanks for your response.
Only being 21, I have a fairly limited credit history. I hold a couple of cards, and I had a loan over 12 months, but not much other than that. One of the points highlighted on the MSE credit club is that I don't have much payment history. I was intending on using this as an opportunity to show I can control credit by making regular payments. Your feedback is appreciated.

sourcrates

Just make all your payments on time, don't default, or pay late.

Most importantly, don't worry about every little thing.

TheShape

SYHR wrote: »

Thanks for your response.
Only being 21, I have a fairly limited credit history. I hold a couple of cards, and I had a loan over 12 months, but not much other than that. One of the points highlighted on the MSE credit club is that I don't have much payment history. I was intending on using this as an opportunity to show I can control credit by making regular payments. Your feedback is appreciated.

If you've got a mortgage to apply for in the near future, it usually helps to have everything fully paid up for a while before application.

If you've got a 0% card then you're using it in the way it's designed although I expect the CC company is hoping you don't get fully paid up by the end of the 0% so as to charge a healthy amount of interest. I'm personally planning to put almost all spending on a 0% CC for the next few years.