Minimum payment showing on report

stuckinazoo

Hi

I checked Clearscore.com for my credit report today. No change to the score but I was surprised to see a minimum payment flagged 2 months ago. I've just checked my credit card transactions and found that I indeed paid £4.90 that month. But that was because it was the entire balance, so also the minimum payment. Should this flag be corrected or is it not important? And will this happen every time I pay a balance of under £5.00?

Thanks

[Deleted User]

If it's a one off, it's nothing to worry about. A pattern of min payments us what concerns lenders.

Any change in your score can also be disregarded.

SnowTiger

stuckinazoo wrote: »

Hi

I checked Clearscore.com for my credit report today. No change to the score but I was surprised to see a minimum payment flagged 2 months ago. I've just checked my credit card transactions and found that I indeed paid £4.90 that month. But that was because it was the entire balance, so also the minimum payment. Should this flag be corrected or is it not important? And will this happen every time I pay a balance of under £5.00?

I don't think it's important. Creditors use extremely sophisticated algorithms which I would expect to take this sort of thing in to account.

I pay £3.30 a month for web hosting using my Capital One card. That's usually the only spend on it. Every month Capital One take that amount by Direct Debit from my bank account and report to CRAs I have made the minimum payment.

As in your case, I have paid the statement balance in full. However, it is (technically) correct that I have also only made the minimum payment.

This has been happening for four years. It doesn't appear to affect my ability to get credit.