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Is spending on a credit card and immediately paying it a bad thing?!

prezzacc · 2017-12-08 07:11:41

Morning. So I joined the MSE credit club, everything is shiny green and "very good" except my debt to income ratio which is Amber and "fair". So can anyone explain does this relate to the amount of debt I have on loans and credit cards? I currently have 5 accounts with overdrafts and a credit card and no debts on any, I…

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GM1880 Posts: 169 Forumite

12 December 2017 at 12:53PM

So, having made the error it seems of paying off the balance of my Vanquis before the statement date, I spoke to them and they said my credit limit hadn't increased because I wasn't using the card. So, in the last two weeks went up to £450 out of the £500 limit. Statement through today, paid off in full. 2 hours later got confirmation my credit limit's going up to £1500.

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Is spending on a credit card and immediately paying it a bad thing?!

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