Credit Cards / Credit Rating

PopTarts

Sorry if this is the wrong forum..

It's a query re Credit Cards - Is your credit rating affected if you make payments on time but still have an outstanding balance at the end of the month?

Say I owed 1000 on my credit card and at the end of the month the minimum to pay back was 150.

If I paid the 150 on time would it affect my credit rating because of the outstanding 850?

Is Credit rating only affected if you miss a payment?

Thanks

Paulw

PopTarts wrote: »

Sorry if this is the wrong forum..

It's a query re Credit Cards - Is your credit rating affected if you make payments on time but still have an outstanding balance at the end of the month?

Say I owed 1000 on my credit card and at the end of the month the minimum to pay back was 150.

If I paid the 150 on time would it affect my credit rating because of the outstanding 850?

Is Credit rating only affected if you miss a payment?

Thanks

As long as you make your payments (minimum payment) then your credit rating won't be effected at all.

dudara

Moved to Banking & Insurance & Pensions

dudara

chris85

you just need to pay at least the minimum payment due on your bill so as there is no adverse effect on credit rating.