Increase credit score - credit card

15 Posts

in Credit cards
Hi,
I have a credit card with small balance remaining but I’m not due any amount to pay this month as paid off big amount earlier this month. Do I clear the outstanding balance or leave it on there until my credit score renews next week? Balance is less than £20. I want to increase my credit score. Or do I spend more?
Thank you
I have a credit card with small balance remaining but I’m not due any amount to pay this month as paid off big amount earlier this month. Do I clear the outstanding balance or leave it on there until my credit score renews next week? Balance is less than £20. I want to increase my credit score. Or do I spend more?
Thank you
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Use your card and clear in full once you get the statement and before the due date .
Credit score only means anything in the US, which is where the CRA's would like the UK to go, but we haven't.
Ensuring you are paying more than the minimum required payment and are not using a high proportion of your available credit, ensuring you miss no payments and have no CCJ's are the main criteria that lenders will be looking at in order to calculate your affordability.
Regardless Mandy, if you want to build a good credit history then you should be paying off the balance in full every month, spend, pay, repeat. Leaving a balance on the card and paying interest harms your rating (how lenders see you, ignoring the fake score) as it looks like you cannot afford the life you lead
Get it paid!