Being savvy with your credit cards. What do you do?

jazzyja

hi guys! So what do you all do to use your cards? I'm not far off clearing mine. I saw a post few days ago saying to wait for the statement before you pay? I was going to get petrol on say the 1st for example and then pay it back on the 28th when I get paid. Does it not matter when you clear the full balance as long as it's in the same month? Thanks! 

cymruchris

It's best to clear the balance any time after the statement is produced but before the date due. It's better still to set up a direct debit to collect the full balance as it'll all be done for you. (Once you're in a position to let that happen). You need the credit card company to report a balance, and the fact the balance got paid. If you pay before the statement day, they report a zero balance, and so it looks like you haven't used your card. (good use of your card looks better than no use of your card)

Socajam

I use my cards to ensure that I do not have to pay for 6-7 weeks - statement date is 4th of the month, so use card on the 5th
Once my statement is issued, I would say pay 3 months council tax and that would give me the above time to pay my bill.
I then set up the full payment to leave my bank account 3 days before the payment is due.
I have 2 cards and always use them this way.

maxximus75

Just set the DD to clear in full of your statement balance and use accordingly.

LordSomebody

Does it matter how many credit cards you use for this purpose? Does it show better management to have a spend of eg £2k over 2 or 3 cards used and paid off every month, or to have 1 used and the other(s) unused, or doesn’t it matter at all?

JJ_Egan

Only use them for payment never for credit .

[Deleted User]

No, as long as you're keeping the cards active and not letting them drift into dormancy.

jazzyja

LordSomebody said:

Does it matter how many credit cards you use for this purpose? Does it show better management to have a spend of eg £2k over 2 or 3 cards used and paid off every month, or to have 1 used and the other(s) unused, or doesn’t it matter at all?

I have 3 cards. Im closing 2 down because il never use them so it seems pointless. Im keeping one for this purpose only. Im keeping the one with the higher limit. I was just interested to see what people used theirs for. Im going safe and just filling my car up with it every month and pay it back with my wage 

onlyfoolsandparking

Probably best to keep at least one Mastercard and one Visa credit card and then of course there's the 'abroad thing' if you only have one card and it all goes pete tonge with that ONE card your in trouble. I always take at least 2 cards abroad with me, just a thought but ultimately whatever suits you, go for it.

[Deleted User]

Always have at least a couple of back up cards. At some point your main card will be declined.

You also want to show that more than one lender on the planet trusts you.

RobM99

I only have the one, use it only for bigger purchases for the Section 75 cover, then pay it up straight away.
Personally I don't see the point of using a credit card much. I appreciate some do, just not my "thang"!