Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • supernova480
    • By supernova480 18th Sep 19, 10:46 AM
    • 12Posts
    • 0Thanks
    supernova480
    Am I doing the right thing concerning CC
    • #1
    • 18th Sep 19, 10:46 AM
    Am I doing the right thing concerning CC 18th Sep 19 at 10:46 AM
    I only have the one credit card and I've read before that it's beneficial to keep a little credit on it. So I tend to spend my shopping or petrol on it and leave around 50 owing each month, when the statement comes in I pay it off immediately, and then repeat for the following month. Is this the right thing to do or should I be spending and then clearing it before the new statement is due? So I owe 0 each month?

    I'm currently saving for a house deposit and hoping to buy within the next 12 months. I know I shouldn't be concerned with actual credit scores, but the information they give me on my actual reports tell me I'm doing everything correctly.

    Thank you
    Last edited by supernova480; 18-09-2019 at 10:50 AM. Reason: typo
Page 1
    • zx81
    • By zx81 18th Sep 19, 10:54 AM
    • 23,829 Posts
    • 26,493 Thanks
    zx81
    • #2
    • 18th Sep 19, 10:54 AM
    • #2
    • 18th Sep 19, 10:54 AM
    Always wait for the statement and then clear in full.

    If you always pay it immediately and have a permanent zero balance, it can look like you're not using your card, which indicates to lenders you're nervous about credit - which isn't a great look.
    • supernova480
    • By supernova480 18th Sep 19, 10:57 AM
    • 12 Posts
    • 0 Thanks
    supernova480
    • #3
    • 18th Sep 19, 10:57 AM
    • #3
    • 18th Sep 19, 10:57 AM
    Perfect, thank you. I'll continue as I am then, leaving around 50 for each new statement and then pay it off when it's due.
    • robboa
    • By robboa 18th Sep 19, 12:56 PM
    • 16 Posts
    • 2 Thanks
    robboa
    • #4
    • 18th Sep 19, 12:56 PM
    • #4
    • 18th Sep 19, 12:56 PM
    nervous about credit - what a load of rubbish that part of the advice is. but yes wait till the statement comes in
    • Gary_Dexter
    • By Gary_Dexter 18th Sep 19, 3:04 PM
    • 6,557 Posts
    • 4,353 Thanks
    Gary_Dexter
    • #5
    • 18th Sep 19, 3:04 PM
    • #5
    • 18th Sep 19, 3:04 PM
    nervous about credit - what a load of rubbish that part of the advice is. but yes wait till the statement comes in
    Originally posted by robboa
    No - it's perfectly sound advice
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,833Posts Today

7,369Users online

Martin's Twitter