Advise please - credit score / car finance / loan

Lauren2020

How long do late payments stay ‘valid’ when making a decision for credit? I’ve been it’s 6 months and elsewhere 12 or even 24 months

[Deleted User]

They'll remain visible for 6 years. Their impact lessens over time but it varies across lenders. After a year, they will typically have little impact, but it's all about the wider picture.

DCFC79

Make use of the direct debit feature for credit cards etc, it will mean you dont end up forgetting to pay so and so bill.

DCFC79

Lauren2020 wrote: »

Thanks for your response! I’d love to save and have been doing so for the last few months but I’m just very worried my current car will give up before I’m able to get a new one

What is the car ?

How old is it ?

Whats the mileage on it and what kind do you expect to be doing ?

What new repairs are needed ?

Lauren2020

Car is 2003, so really getting on! Mileage is 130,000 and it’s done me really well however now it’s needing new brake cals and now my suspension is going too / plus other bits I.e fuses.

I guess going from my credit history I’ll be unable to obtain any credit so ill have to make do for now and save - fingers crossed

Shakin_Steve

Lauren2020 wrote: »

I was advised to keep my CC going as rolling credit considering it is the only credit account I now have, apparently me making good monthly payments on this would increase my credit history instead of having no credit accounts?

With regards to additional bills from living away from home, I did used to have such bills however I moved back into my family home a few years later.

You would be better paying off the credit card and using it for spending each month, paying off the full amount by direct debit of course. That would look much better.