Credit Utilization?

muselnor

Hi All,

I get the fact that if you use too much of your available credit on a credit card for instance it can affect your credit rating.

How does it work with a company like Very. I have an account with them and they have upped my limit to £1200 (Previously £900) If I use up to my limit but pay it back in 3-4 months will it affect my credit rating?

Thanks in advance!

sourcrates

Hi,

Credit reports are marked green if you pay on time, amber if you pay late, and red if you default.

There is no provision for any other information.

Your credit score fluctuates all the time at the whim of the CRA`s.

DCFC79

muselnor wrote: »

Hi All,

I get the fact that if you use too much of your available credit on a credit card for instance it can affect your credit rating.

How does it work with a company like Very. I have an account with them and they have upped my limit to £1200 (Previously £900) If I use up to my limit but pay it back in 3-4 months will it affect my credit rating?

Thanks in advance!

Remember your rating isn't seen by anyone but yourself.