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Question of the week: Do missed mobile bills affect my credit rating?
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Former_MSE_Archna
Posts: 1,903 Forumite
Q. I've missed a couple of payments for my mobile phone, will this effect my credit rating in the future?
A. Most contract mobile phones ARE based on a credit agreement, and this means it can count as a late payment or default on your credit file, and that's never good.
How big an impact that has depends on the new lenders priorities. Each lender scores differently based on its own wish-list of what makes a profitable customer.
Some may decline a new agreement just for one late payment, others may look for a pattern in your history. E.g a new mobile phone provider may look less favourably on a missed mobile payment than another type of lender.
During current climes, when it's harder to be accepted for credit anyway, the more careful you are with any credit agreements the better.
More details on credit reports, including how to check yours for free in the Credit Rating guide.
A. Most contract mobile phones ARE based on a credit agreement, and this means it can count as a late payment or default on your credit file, and that's never good.
How big an impact that has depends on the new lenders priorities. Each lender scores differently based on its own wish-list of what makes a profitable customer.
Some may decline a new agreement just for one late payment, others may look for a pattern in your history. E.g a new mobile phone provider may look less favourably on a missed mobile payment than another type of lender.
During current climes, when it's harder to be accepted for credit anyway, the more careful you are with any credit agreements the better.
More details on credit reports, including how to check yours for free in the Credit Rating guide.
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