Piggybanking method – credit cards


You’ve posed this twice…?

I don’t understand why you would fence off the statement balance into a separate account. If you were that bad at managing money, then just send the money straight to the Credit Card rather than a separate account?

An easier method is to simply setup a DD for full payment and don’t overspend.

If you are paying when the transaction has cleared, that is bad. It would look like you are not using the credit card at all as it will end up with a £0 balance each month if you continually pay each transaction off separately. This would look bad to future potential lenders as you are not utilising your current credit availability and therefore have no history of managing and paying off credit. It’s a lot of hassle for no gain.

If you are forwarding each transaction amount into a separate account as they happen and then use that to pay off the statement balance… that’s an awful lot of micro-management with zero real gain.


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