Credit Rating for an EE phone contract?

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alanwaken
alanwaken Posts: 5 Forumite
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in Credit file & ratings
Hey guys.

I fancy the new iPhone, but I've had problems with debt in the past. For the past 5 years I've been with StepChange and paying off my debts, I've not had any credit until this year where I got a builder credit card (aqua). I've raised my credit score to 306 now, but I'm worried about being declined and taking a hit on my rating. Is there a way of know what credit score someone like EE would require or anything?

Any advice appreciated.
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  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    edited 14 September 2017 at 9:17PM
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    alanwaken wrote: »
    Hey guys.

    I fancy the new iPhone, but I've had problems with debt in the past. For the past 5 years I've been with StepChange and paying off my debts, I've not had any credit until this year where I got a builder credit card (aqua). I've raised my credit score to 306 now, but I'm worried about being declined and taking a hit on my rating. Is there a way of know what credit score someone like EE would require or anything?

    Any advice appreciated.

    Your credit score has no bearing, EE and lenders etc dont even see the rating/score. Everyone sees your history.

    Whether you get accepted is up to EE, they will look at your credit file and if they dont like what they see they will decline you.

    A cheaper option is to buy a phone outright and get a sim only plan.
  • cjmillsnun
    cjmillsnun Posts: 615 Forumite
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    The credit score you see is meaningless. EE along with other people carry out a process called credit scoring. They look at your history (not the score), the details on the application form, and any previous history they have in their files about any previous accounts you may have had with them (think BT - who own EE, Orange or T-Mobile who were the companies that merged to become EE). They use all this data with a unique computer algorithm to create their own score based on their criteria.

    What I would say is can you afford it? Have you paid off all of your debts? Is it it worth getting a sim only contract for a few months first?
    2.88 kWp System, SE Facing, 30 Degree Pitch, 12 x 240W Conergy Panels, Samil Solar River Inverter, Havant, Hampshire. Installed July 2012, acquired by me on purchase of house in August 2017
  • Ebe_Scrooge
    Ebe_Scrooge Posts: 7,320 Forumite
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    alanwaken wrote: »

    I fancy the new iPhone, but I've had problems with debt in the past. For the past 5 years I've been with StepChange

    So, hang on, you've just spent 5 years getting out of debt ? And now you "fancy" spending the best part of a grand on a toy ? Hmm, I wonder why you got into debt previously ??
  • alanwaken
    alanwaken Posts: 5 Forumite
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    Wow you guys are horrible. Thanks for the warm comments..
  • Nebulous2
    Nebulous2 Posts: 5,116 Forumite
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    A decline won't go on your record. All companies will see is a search, regardless of whether it is accepted or declined. Too many searches are an issue, but it sounds as though you haven't been making any.

    So the only way to know is to try.

    I'd share some other people's views that there are better / cheaper ways to run a phone, but as your mind is made up you don't appear to want these opinions.
  • MEM62
    MEM62 Posts: 4,752 Forumite
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    alanwaken wrote: »
    I've raised my credit score to 306 now.


    You need a score of at least 306.5 for an iPhone. You might get a Samsung Galaxy with 306 though ;)
  • Ebe_Scrooge
    Ebe_Scrooge Posts: 7,320 Forumite
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    alanwaken wrote: »
    Wow you guys are horrible.

    No, we're not horrible, we're realistic. The latest iPhone is very much a luxury. I can fully appreciate that most people these days regard a mobile phone as a necessity ( though personally I'd question even that statement ). But that aside, having the latest and greatest model is absolutely reserved for those that have a large disposable income. Most of us ordinary mortals are quite happy with something that costs a tiny fraction of the price, yet still allows us to be in contact with work, family, internet, whatever - but hey, it may not be "cool".

    This forum is called "Money Saving ..." - the clue is in the name.
  • cjmillsnun
    cjmillsnun Posts: 615 Forumite
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    I would argue that a mobile is a necessity as to be honest a PAYG is cheaper than a landline and a phone of some kind is a necessity. I do agree though, the latest and greatest is a luxury.
    2.88 kWp System, SE Facing, 30 Degree Pitch, 12 x 240W Conergy Panels, Samil Solar River Inverter, Havant, Hampshire. Installed July 2012, acquired by me on purchase of house in August 2017
  • darkidoe
    darkidoe Posts: 1,125 Forumite
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    Any latest phone is always going to be tempting honestly. There's an inherent attribute perhaps conditioned into us to crave the latest tech or to check out something new. The struggle would be for us to recondition ourselves to see value in a phone for what it is and what we need it for and recognize perhaps what we need is not the latest but simply something that is functional.

    And of course we have to take account of our own capacity to pay for it and if we are willing to pay the premium for it. Decisions. Decisions.

    Save 12K in 2020 # 38 £0/£20,000
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
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    alanwaken wrote: »
    Wow you guys are horrible. Thanks for the warm comments..

    This forum does deal out a lot of Tough Love. But hopefully you can see the point they are making.
    Of course, past it past, and circumstances change. For all we know you may have paid off your debts and be swimming in money now. Or you could still be paying those debts off.

    I've just looked at EE and it seems even the cheapest contract is £68 a month. That is a minimum of £1632 :eek: you'll pay out over the 2 year contract. Can you afford that? Even if you could, why would you want to shell out that much to make calls/texts, and aimlessly look at social media sites?
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