Pay credit card balance after the statement received or every week or after significant expenditure?

JimmyTheWig

David2018 wrote: »

May be lenders ignore, or not even see the credit scores generated by CRAs, but the CRAs say the credit scores show you how your credit history would be seen be the lenders. So, if my credit scores have been reduced it should mean that in my credit history is something which would be negatively seen by the lenders. Would you agree?

No, it's something that _may_ be negatively seen by the lenders.
Some things are clear cut, e.g. missing a payment will be seen as bad.
Other things are not so obvious. Racking up a large balance will be seen as bad. Using the card will be better than not using the card. So who decides when you cross the line between using it (good) and having a high balance (bad)? Different people will have different views.

David2018

nic_c wrote: »

The idea is that because if you are not paying off until after statement then it is showing balance

No one yet has explained why showing balance and not showing payment amount is seen positively by lenders. You can have £0 balance and £0 statement amount, but £800 payment amount in every month in all three years. So, what is special with a balance?

Willing2Learn

Showing payment amount is a positive. Showing statement balance as a debt that is paid in full, is another positive. You want to maximise the positives. Not all CRAs report balance histories, but they all report statement balances. (I logged on to all three CRAs to check this last night).

David2018

Willing2Learn wrote: »

Showing payment amount is a positive. Showing statement balance as a debt that is paid in full, is another positive. You want to maximise the positives. Not all CRAs report balance histories, but they all report statement balances. (I logged on to all three CRAs to check this last night).

Payment amount means that it was a debt that you paid, otherwise why would you make a payment? The difference is only that in first case a person paid the debt few days after the transaction and in second case the person waited to pay for 25 days. So why not paying for 25 days is psoitive? Your answer does not make it clarer unfortunately.

[Deleted User]

Maybe you need to ask the CRA's directly.

I'm not sure why you're getting so hung up on it

David2018

And in first place, why using a credit card or having credit history is seen positively by the lenders? Is it not more positive thing to show lenders that you have money and you lived the whole time without any credit? You can pay for almost everything using you Visa Debit card. I still don't understand what's going on in heads of lenders. I am not saying they are crazy, they know what they are doing, but I have not found out yet unfortunately.

David2018

!!! wrote: »

Maybe you need to ask the CRA's directly.

Do you think they will tell you this? They don't even tell you why the credit scores have been reduced.

!!! wrote: »

I'm not sure why you're getting so hung up on it

Because it is very important in almost everybody's life (if, at some point, you are going to buy a house and take a morgage) and you need to understand how it works, in first place, in order to do it right.

Willing2Learn

@David2018 - We cannot all be wrong in our assertions. I'm fifty this year and have had a long time to assess how a lender considers my history, the type of things they like and they don't like. There really is nothing more to say in this discussion that hasn't already been said. You can either believe us all or not. There is no evidence to support any of the assertions in this thread as the evidence is not available. It is all based on experience...

David2018

Willing2Learn wrote: »

@David2018 - We cannot all be wrong in our assertions.

I have not said that. I am thankful to all of you. I believe it more then not. I am just trying to understand the logic, I wrote it several times already. I don't even see logic, let alone the evidence.

jadex

Craig1981 wrote: »

i use my CC for everything, and pay it off every few days - done this since 2011 as was given advice to do it this way by National Debtline when in my IVA. IVA finished 2016 as i continue to do so. haven't been rejected for anything i have applied for since

just curious: what is the point of having credit card then when debit card would work for you just the same way?


side point: good for you that you got credit card whilst on IVA