Credit card and rating?

Dobbibill

MHOWARD wrote: »

Thank you very much for the explanation, that makes a lot more sense to me now. As my balance is basically my limit now, would you advise paying it off so I can spend on it this month? Or wait for my statement to be produced near the end of the month?
Many Thanks

Now you have a better understanding of how it works on a rolling basis. I would prob pay it off in full now* - start afresh with a good routine in place.

*depending when your statement is due

MHOWARD_2

Dobbibill wrote: »

Now you have a better understanding of how it works on a rolling basis. I would prob pay it off in full now* - start afresh with a good routine in place.

*depending when your statement is due

My statement is due around the 23rd with payment to be made by 7th of the following month.

austonic

MHOWARD wrote: »

I signed up for Equifax and it's not ...

I trust you signed up for the free service and not a paid subscription? Resist all attempts they make to encourage you to take up a paid subscription or apply through them for credit.

As you are in a position to pay the full balance off each month, it would be worth your while looking at credit cards that give you benefits. There is lots of advice on the forum about the best offers. It can be anything from cash backs, air miles, nectar points, additional accidental insurance on purchases, etc.

MHOWARD_2

austonsmaydrydr wrote: »

I trust you signed up for the free service and not a paid subscription? Resist all attempts they make to encourage you to take up a paid subscription or apply through them for credit.

As you are in a position to pay the full balance off each month, it would be worth your while looking at credit cards that give you benefits. There is lots of advice on the forum about the best offers. It can be anything from cash backs, air miles, nectar points, additional accidental insurance on purchases, etc.

I can definitely pay off any balance each month. The problem is getting the credit card in the first place. I did use the free trial of Equifax but cancelled that before I had to pay anything. Did try to sign up for exoerian but that was a nightmare in itself.

Dobbibill

Yes, pay off now and start afresh

Set up a DD for future months to ensure you don't miss a payment date. Plenty of horror stories of it being missed by a day. Check with the company it's set up in time for the next statement.

To access the CRAs, you can access your Equifax report via Clearscore and Call Credit report via Noddle, both are completely free. That only leaves Experian then, which can be done on a free trial or statutory report for £2 occasionally.

MHOWARD_2

Dobbibill wrote: »

Yes, pay off now and start afresh

Set up a DD for future months to ensure you don't miss a payment date. Plenty of horror stories of it being missed by a day. Check with the company it's set up in time for the next statement.

To access the CRAs, you can access your Equifax report

Balance paid off. I will spend a bit on it and then wait until the bill, and rinse and repeat. Failing that I could send the flaming thing to you and you can sort it out for me. Just send it back when you have built up my credit, many thanks :rotfl:

Dobbibill

:rotfl: :rotfl:

MSE_Chris

Dobbibill wrote: »

To access the CRAs, you can access your Equifax report via Clearscore and Call Credit report via Noddle, both are completely free. That only leaves Experian then, which can be done on a free trial or statutory report for £2 occasionally.

I can't help but recommend MSE's own Credit Club here - We will soon be allowing users to access their full credit report for free so you'll no longer need to pay for a Statutory Report (£2)!

http://www.moneysavingexpert.com/creditclub

MHOWARD_2

MSE_Chris wrote: »

I can't help but recommend MSE's own Credit Club here - We will soon be allowing users to access their full credit report for free so you'll no longer need to pay for a Statutory Report (£2)!

http://www.moneysavingexpert.com/creditclub

Reported as spam :money:

redux

MSE_Chris wrote: »

I can't help but recommend MSE's own Credit Club here - We will soon be allowing users to access their full credit report for free so you'll no longer need to pay for a Statutory Report (£2)!

No, soon was 4 months ago. It might have moved on to almost imminent by now.