Tesco Foundation Credit Card

dancook96 · 11 July 2018 at 8:08PM

I'm using the Tesco Foundation Credit Card to 'intentionally' build my credit. I have a limit currently for £250 and use it to the max each month and pay it off in full monthly upon receiving my salary.

What is the best way to use this kind of card to boost credit? - HELP

jimbo26 · 11 July 2018 at 10:03PM

Just keep doing what you're doing, and you will build a positive history of managing credit

eDicky · 12 July 2018 at 1:13AM

dancook96 wrote: »

and pay it off in full monthly upon receiving my salary.

Regardless of when your salary is received, pay off the amount that has already appeared on your statement, not before, so that your credit activity is reported and added to your creditl history.

[Deleted User] · 12 July 2018 at 11:18AM

Also although £250 is a pants limit, try not to max it out. Anything over 70% utilisation and it's viewed pretty negatively. It's hard with starter cards (I'm in the same situation!) but I'd try and keep the balance on the card at a maximum of £150-175 until the limit is pushed up.

Also as eDicky says, pay when they tell you to pay as that proves you are using it properly.

Preferably setup a direct debit for the full amount - but keep paying manually until they tell you on one of your upcoming statements that the direct debit of £xxxx will be taken on xxxx.

Tesco Foundation Credit Card

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