CC Utilization 27-25% check

Dandytf

@Nasqueron  
There was me thinking whatever % of CC total balances be it high usage/medium/low, Can be useful for Credit Providers during Credit Assessment's.
I'm a decent example with a few various types of agreements in recent years.
Repaying additional 2% from 27% used to 25% could be positive step albleit some way to go:) 

Nasqueron

Dandytf said:

@Nasqueron  
There was me thinking whatever % of CC total balances be it high usage/medium/low, Can be useful for Credit Providers during Credit Assessment's.
I'm a decent example with a few various types of agreements in recent years.
Repaying additional 2% from 27% used to 25% could be positive step albleit some way to go:) 

Utilisation is a very minor point - if you earned say 100k and had 25k of 0% debt and had 40k of limit, likely you could get more credit easily despite the high utilisation because of your income. If you are earning £15k and have £5k of benefits and have £10k of debt and £30k of limit you are going to get much less credit despite lower utilisation.

Hope that explains it! 

Dandytf

Nasqueron said:

Dandytf said:

@Nasqueron  
There was me thinking whatever % of CC total balances be it high usage/medium/low, Can be useful for Credit Providers during Credit Assessment's.
I'm a decent example with a few various types of agreements in recent years.
Repaying additional 2% from 27% used to 25% could be positive step albleit some way to go:) 

Utilisation is a very minor point - if you earned say 100k and had 25k of 0% debt and had 40k of limit, likely you could get more credit easily despite the high utilisation because of your income. If you are earning £15k and have £5k of benefits and have £10k of debt and £30k of limit you are going to get much less credit despite lower utilisation.

Hope that explains it! 

Thanks checked some repayments some high interest, others Lower.
What is clear is a fairly Balanced repayment level, though not costed.
Maybe I'll post this via dwd, though not planning on soa at this point.

Dandytf

I've calculated almost 2yrs cc plan.
Is there any concerns if making use of  Multi o% offers via VM Card.
I could let current offer be repaid at current DD and potentially make use of latest offer in effect Adding to Balance albeit across 2 0% offers.
 

Nasqueron

Dandytf said:

I've calculated almost 2yrs cc plan.
Is there any concerns if making use of  Multi o% offers via VM Card.
I could let current offer be repaid at current DD and potentially make use of latest offer in effect Adding to Balance albeit across 2 0% offers.
 

It will depend on what VM offer - if it's a new offer for say 12 months extra, then you have 12 months more albeit at the cost of a fee. If they let you do more BT but it's only for the current period, you will have to pay more. Charging order is normally the most expensive (i.e. in this case the one likely to run out soonest) but you would need to check and ensure that is the order they pay it in not say oldest to newest

Concerns? You pay a fee, you stay in debt longer

Dandytf

4% fee VM New 12 mths transfer offer Zero Interest until late May 25.
I''m using this for small OD.
That's 99% of future 0% offers gone though have until Late July if required.
Hopefully future purchases are App based  i.e. Non CC over next year or two.

thanks

Nasqueron

Is this MT card? You can't pay an overdraft with a BT card

Dandytf

Nasqueron said:

Is this MT card? You can't pay an overdraft with a BT card

It is VM CC which does include BT/MT until SD 31/05/25.
I've made 1st slight mishap whilst NW to VM t/fer still to conclude.
Viewing new NW CC Balance, It Exceeds  Limit.
From my not very often mishap, maybe there's opportunity to Purchase Dimplex Alta heater-Kitchen.
Amex Transaction to RBS 0% was very fast, that's concluded, amazed at Subs cost monthly basis is 33.96 pounds.
Excluding yearly F.T. though I can return to these without any need to further increase spending, this Amex went from 22%apr to 28.5 during recent years Rate Hikes.

Dandytf

Why does NW ask enter card number to Transfer From when I enter my NW CC then this isn't possible.
I want to Transfer NW CC Credit Balance From NW CC To VM CC.
Re considering maybe I can make a Payment to VM cc.

Nasqueron

If you are moving NW to VM you need to put the NW card details in on the VM site as they are paying NW as part of the BT process - you would not use the NW site for this purpose. You cannot pay off the NW card with the VM card using a normal payment