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Credit Score
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NOTethan9
Posts: 1 Newbie
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!
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!
0
Comments
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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.0 -
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...0
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As a general rule, no.0
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