Best way to use credit card To improve credit scoring 31 August 2021 at 10:34AM in Bankruptcy & living with it 9 replies 423 views

kimplus8

I am five years post bankruptcy discharge from four years ago. I am currently waiting for my credit card to arrive. I want to buy my weekly shop on this and pay it off to try and improve my credit by showing that I can be a responsible person to lend to for a future mortgage. 

My question is do I pay the balance of immediately after buying my shopping or do I wait for the monthly bill to be generated and then pay off the balance in full or does it not matter. 

Many thanks

[Deleted User]

You wait for the statement, then pay in full by the due date. A DD would be a good idea.

luvchocolate

I had a direct debit to pay the balance in full every month. Much easier 

kimplus8

Will set a DD up ASAP. Thankyou for your replies

steve_Ferro

Do all credit cards offer a "pay balance in full DD" option?

molerat

steve_Ferro said:

Do all credit cards offer a "pay balance in full DD" option?

I suspect they all do, never seen one that doesn't .................. but you never know !

sourcrates

I would advise caution when using this card, credit cards can be the spawn of the devil where debt is concerned.

Just be careful how you use it.

fatbelly

AFAIK credit cards have a 'pay the minimum by DD' option and 'pay the full balance by DD'

At least set the former up so you cannot default. 

kimwp

Set it up to pay in full, then you start with the mentality that everything you buy, you must already have the money to pay for it.

kimplus8

sourcrates said:

I would advise caution when using this card, credit cards can be the spawn of the devil where debt is concerned.

Just be careful how you use it.

I totally understand this so I’m just buying one weekly shop and paying in full at end of month. Hopefully will make me a bit more credit worthy for a mortgage next year