On the newly updated Credit Karma website there are two things that I need to do that will have a high impact on improving my score.
- Increase my total credit limit. They say it needs to be £4,000 more.
- Use between 1 and 25% credit utilisation. I’m currently at 0%.
I therefore think I need a credit card
What I want to know is as follows: Is it better to get a low APR card (been pre-appoved for one at 9%) which I can keep forever or should I get a 0% for 28 months on purchases card which I then cut up and get another when the term ends?
Is one more detrimental that the other or does it not really matter?