Credit card usage reporting?

stewartwilliams

Just had an update to my Transunion score in my Monzo app and it's dropped slightly.  Not that it might make any difference in the real world, but it's showing that I'm utilising 97% (£2800) of my £2900ish limit on a card when I'm using £125 of that (going to clear that and close it in the next few days anyway).
Cut the card up a couple of months ago, and the balance hasn't been above 10% of the limit since last month.

Does this affect me?
Not planning on getting anything more in the meantime, just getting rid of my card with highest interest rate and FX fees being charged.

Brie

There can be up to a 3 month delay on some creditors reporting to Transunion and Experian so this might be something from prior to cutting up the card.

But as you say it doesn't make a difference in the real world.  If you're not planning on applying for any credit in the next couple of months it makes even less difference.  

born_again

stewartwilliams said:

Just had an update to my Transunion score in my Monzo app and it's dropped slightly.  Not that it might make any difference in the real world, but it's showing that I'm utilising 97% (£2800) of my £2900ish limit on a card when I'm using £125 of that (going to clear that and close it in the next few days anyway).
Cut the card up a couple of months ago, and the balance hasn't been above 10% of the limit since last month.

Does this affect me?
Not planning on getting anything more in the meantime, just getting rid of my card with highest interest rate and FX fees being charged.

Ignore the fictitious figures.
They mean noting to lenders.

DullGreyGuy

born_again said:

stewartwilliams said:

Just had an update to my Transunion score in my Monzo app and it's dropped slightly.  Not that it might make any difference in the real world, but it's showing that I'm utilising 97% (£2800) of my £2900ish limit on a card when I'm using £125 of that (going to clear that and close it in the next few days anyway).
Cut the card up a couple of months ago, and the balance hasn't been above 10% of the limit since last month.

Does this affect me?
Not planning on getting anything more in the meantime, just getting rid of my card with highest interest rate and FX fees being charged.

Ignore the fictitious figures.
They mean noting to lenders.

They not even shown to any lender I know of... only know one company that did actually buy it and they weren't using it for lending decisions. 

It's also worth noting that the version that lenders see tends to be much more up to date that what they show to consumers. So whilst your view can be up to almost 3 months old it'll have changed for lenders sooner than that.