New Credit Card User - Available Credit Down by £1?

  • ninezerofive's Avatar
    I've recently got a Clubcard Credit Card from Tesco Bank and I've made a few purchases with it, all well within the limit and paid them out in full after 1-2 days - current balance at £0. After my last purchase however, my available credit has gone from £250 to £249 - is there a reason for this, and will that change affect me in any way despite paying everything in full? thanks,-905
  • 1 Reply

  • chaddman30's Avatar
    Supervisor
    Hello 905, One possible suggestion is that one of the retailers has placed a pre-authorisation on your card; such examples include Pay at the Pump fuel transactions. Once the payment has been posted to your credit card the 'hold' should disappear from your account, taking you back to the limit of £250.00. It's entirely up to you as everyone's circumstances are different but it might be a good idea to wait until your statement is generated each month then clearing your balance (ideally in full, unless you've got a promotional rate) as it'll be reported on your credit files that you're managing a credit product well and helping towards your history.