Credit score

jordyjord

I am currently paying back a 0% credit card of £5000 and another one of £2500. I pay more than the minimum every month to clear them quicker. Once i finish paying them will my credit score be damaged for a long time? 

CliveOfIndia

Your credit score is completely irrelevant as it's not even seen by any lender.  It's your credit history that's important.

In terms of your credit history, then carrying a balance from one month to the next is normally not the best idea - it looks less than ideal on your credit file, and will cost you money in interest.

However, if the cards are on a 0% promotional rate then that is flagged as such on your file, so it's not an issue, and is pretty much expected behaviour.  As long as you make at least the minimum payment every month then you'll be fine.

Obviously, it's eminently sensible to make sure they're cleared before the promotional rate expires, otherwise you'll start paying interest at the card's standard APR.