credit cards
Is it bad for my credit score with credit cards and are not used?
I have three credit cards, but uses only one hand, and pay in full each month. I intend to make a large purchase at Best Buy and saves a lot if you open a credit card purchase. (I almost 20%, which would be about 150). I never use this card. Is it bad for my score Credit with credit cards that I use?
Never more than three active credit cards at any time, and that activity should be all of them, however, should not be sending the balance. Instead of using your debit card or cash for lunch to use their credit cards here and there. Make sure you pay the bill in full when it comes in each month. If you want to keep a balance, then never take more than one third of the available credit limit, which may affect your score, even if you pay quickly. In terms of opening another account with Best Buy, I would also recommend if you do not intend to reuse. Although 20% is good, but you have the reality of the loss of a couple of checkpoints of them just your credit score, then you can devalue its rating to have a revolving account. Instead, go to your local post office and pick up a travel package, the package contains the form for mail delivery in This package is a good 10% off any purchase at Best Buy. I would just use one of your other credit cards and use the coupon of 10%. Then, as I said, occasionally use each card for various things in store for lunch, dinner, etc. Then just pay the bill or pay more than the payment minimum due. This will help your credit score. If you want the future to buy a house, car, etc., then the lender is looking the end of the long credit history and want to see three accounts in good standing. Hope this helps, and I wish you good luck, I hope you will enjoy your new purchase!
Which UK credit card is best(please see details)?
My partner and I have been looking at buying a house but we can’t get a large enough mortgage. It seems the only way to get a higher one is to get a higher credit score. I have never been in debt, he has a CCJ from years ago for about £800 which has been paid fully for over a year and our income is low. I am thinking of getting the card only in my name. Basically, the card would be used for ID purposes and small purchases just to get a credit score so I would want one with no annual fees or anything like that.
I’ve just looked at a few cards and I am confused! I have seen a couple which look good but I am still not sure.
We have both previously had a Capital One and so have both my sisters and several other people I know, we all had problems which the company chose not to deal with so that one is definitely out of the question.
We don’t have the option of shared ownership or moving to a cheaper area. And judging by some of the things I have seen/heard, this IS a cheaper area!
Try talking to your bank, if you have a good history with them they will be more likely to grant you a card and they tend not to have an annual fee etc.
I would say however that you will not necessarily improve your credit rating by having a credit card – and in the first instance your credit rating will drop, it always does following any application for credit of any kind.
I also think that you would be best talking to an independant financial advisor regarding your situation – there are many non-standard mortgage lenders out there and methods of applying for mortgages that will almost certainly suit your needs now.
It is unlikely that your boyfriend’s previous CCJ would stand in the way of securing a mortgage – because a mortgage is secured against the property your previous credit history tends not to apply – unless you have no deposit whatsoever (and even that is surmountable by buying a new house where the developer pays your deposit).
So talk to somebody before taking on additional credit that you don’t need or want and that probably won’t make the difference that you are hoping for.
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