We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Is paying the minimum bad for my credit file?
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Hello,
I currently have a credit card with £1,200 limit and I need to spend about £300 to get my car fixed as I don't want to claim on my insurance. Problem is I cannot afford to pay the £300 off when the statement would come through. and I need the repair.The current balance of the card right now is £0. I've only had a credit card for 4 months, every month I've paid off in full and on time (my usual balance is average 200-250, but I'm just wondering if paying the minimum (£25) on £300 would look bad on my credit file (asking since I'm trying to build my credit history/file).
I currently have a credit card with £1,200 limit and I need to spend about £300 to get my car fixed as I don't want to claim on my insurance. Problem is I cannot afford to pay the £300 off when the statement would come through. and I need the repair.The current balance of the card right now is £0. I've only had a credit card for 4 months, every month I've paid off in full and on time (my usual balance is average 200-250, but I'm just wondering if paying the minimum (£25) on £300 would look bad on my credit file (asking since I'm trying to build my credit history/file).
0
Comments
-
One off, not a problem. If its a regular thing then yes it doesn't look good.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
-
DELEtED USER wrote: »Hello,
I currently have a credit card with £1,200 limit and I need to spend about £300 to get my car fixed as I don't want to claim on my insurance. Problem is I cannot afford to pay the £300 off when the statement would come through. and I need the repair.The current balance of the card right now is £0. I've only had a credit card for 4 months, every month I've paid off in full and on time (my usual balance is average 200-250, but I'm just wondering if paying the minimum (£25) on £300 would look bad on my credit file (asking since I'm trying to build my credit history/file).
If you pay the minimum there will be a marker added to your credit file to reflect that.
It's better to pay a little extra.
You should aim to pay as much as you can, anyway, to reduce the interest you'll be charged.0 -
Different finance companies are looking for different things in a potential customer. To one lender you might appear high risk and hence undesirable. To another lender you might appear highly profitable and hence desirable. You probably don't want to be a highly profitable customer though.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards