Credit Score

Hi All,

I have got a credit card to improve my credit score by using it for some of my day-to-day expenditures and then having a direct debit set up to pay the statement off in full each month.

Will my credit score improve significantly quicker if I use my credit card for ~£500 a month compared to ~£10 a month for example or is the amount not that important and more the fact that I pay it off in full every month?

Thanks!

Replies

  • edited 28 December 2021 at 4:56PM
    [Deleted User][Deleted User]
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    Part of the Furniture 10,000 Posts Photogenic Name Dropper
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    edited 28 December 2021 at 4:56PM
    No. Credit scores generally react negatively to changes in behaviour, so will drop with any change, whether that change  is good or bad . Fortunately, credit scores are just a gimmick in the UK, playing no part is lending decisions and should be ignored.

    From a lenders viewpoint, clearing in full in the key thing. The amount is relatively unimportant, though it makes financial sense to put all your regular spend on it.
  • chankie888chankie888 Forumite
    33 Posts
    Part of the Furniture 10 Posts Combo Breaker
    Forumite
    If the credit card company offers you an increased credit limit (no original request from the card holder) , will that include any further credit checks?  From the email and my online account, i just simply click "accept" increase so no further checks...
  • As a general rule, no.
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