Pay Credit Cards Early?

loalife222

Thank you to all for your replies so far btw people. It's really improving my overall understanding of the subject already, and us very much appreciated. ��

loalife222

That's the kind of advice I'm after zx. Whatever I can do to make myself look most trustworthy in the eyes of lenders is an advantage.

Is there anything else you can think of other than credit cards that might accelerate my progress further? ��

Not really well versed in the whole store card/catalogue category..but don't necessarily want to go down that route anyway tbh.

Or should I just keep doing what I'm doing, plus the advice given on this thread?

Just want to strengthen my position as much as possible.

loalife222

And considering I only applied for my second card a month ago, when would be a good time to request an increase in the first card..or indeed apply for a third card?

The second card isn't even showing on any of my CRA reports yet.

Obviously it is prudent to allow a certain amount of time to pass in the above instances, but it's a little unclear how long..

[Deleted User]

What are the current limits and how long have you had them for?

loalife222

Card 1 - £2600 approx 20 months
Card 2 - £3000 1 month

Obviously card 2 gets left for now.

What's the deal with card 1? Would they set a proposed increase themselves, or should I request a specific amount?

And how long to wait before applying for card 3? Not in any particular rush for this mind you..

[Deleted User]

You could ask for an increase, but generally they're given, rather than requested.

Apply for another card now. If declined, leave it for a month or two.

[Deleted User]

Well they're quite low limits, so if you were to apply for a third card then expect a similiar limit, maybe even lower.

Who are the cards with?

Depending on who the card is with will depend on how you go about asking for an increase.

Some lenders you ask for an amount and they say yes or no, some you can ask for a limit and they will come back with a counter-offer.

loalife222

Card 1 is with Virgin, card 2 is with MBNA.

Do you not think it's too early to apply for card 3, considering card 2 is yet to even appear on my CRA reports?

loalife222

"Well they're quite low limits, so if you were to apply for a third card then expect a similiar limit, maybe even lower."

(Sorry, don't know how to quote yet..)

Is it not a good idea to increase current limits before applying for a third card then? Or have I misunderstood the message here?

[Deleted User]

What is your intentions for increasing the limits and/or getting a third card?

What are you hoping to achieve in all of this?