refused on vodafone why though???

gjchester

caffinebassman wrote: »

I would go back to the shop where the application was declined as ask then for contact details for the relevant Vodafone department as you want to ask them for an explanation of why you have been declined.

You will most likely have to do this in writing but I seem to recall that if you ask they must give you the reason. This might enable you to target your investigation of credit history etc more accurately.

I could be wrong but the T&C of most contracs say they don't have to give you a specific reason why they turn you down but might (as said later) direct you to the credit checking agency they use. Usually it's a security thing, if you know exactly how you fail you can "beat the system" by fixing that one event.

In some cases it may be more than one thing that stop the application

caffinebassman

gjchester wrote: »

I could be wrong but the T&C of most contracs say they don't have to give you a specific reason why they turn you down but might (as said later) direct you to the credit checking agency they use. Usually it's a security thing, if you know exactly how you fail you can "beat the system" by fixing that one event.

In some cases it may be more than one thing that stop the application

I was thinking more from the consumer credit viewpoint not the network contract - yes, probably a referal to a credit reporting agency would happen rather than explanation (since the network operator wouldn't have exact info). I'm sure you are correct it's a long time since I worked with credit agreements and (barring the odd credit card) a long time since I took out credit (skint).

BTW I use checkmyfile.com the 3 reports (from each of the 3 main agencies) quite good I think but probably not the cheapest.

bubbawelsh

just spoke to credit expert (experian) and the bloke said that my credit history is all fine apart from there is not much of it, because i dont have any credit cards or anything on credit they cant determine how i manage the things i have on credit,

basically i save up for things that i want then buy them when i have the money saved rather than living beyond my means which i thought was the correct way to buy things,

by doing this i have built up no credit rating, the man on the phone from credit expert, said what he does is to buy petrol and shopping on a credit card then pays them off in full when the bill arrives by doing this he builds up a good credit rating

he advised me to go to my bank and speak to a financial advisor about ways to build my credit rating, i smell a rat with this and think im going to be sold something

the long and short of it is that i cant have the iphone on vodafone until i build up my credit rating which the bloke told me can take up to a year by which time i wont want the iphone because it will be old and better things will be out

as i see it my options are 1 try another network
2 wait a year and try again

has anyone got any other things that i can do, before i go to my bank and get a sales pitch or any suggestions for me

many thanks

gjchester

bubbawelsh wrote: »

The man on the phone from credit expert, said what he does is to buy petrol and shopping on a credit card then pays them off in full when the bill arrives by doing this he builds up a good credit rating

he advised me to go to my bank and speak to a financial advisor about ways to build my credit rating, i smell a rat with this and think im going to be sold something

It’s not bad advice, it’s showing you can hold a credit account responsibly, as currently you just can’t show that.
Remember the issues isn't that your credit worth or not, it's the fact you have no history to base a decision on, you could be a millionare but without a history the card co's don't know if you'll be a risk or not.

You don’t need to go to a financial advisor, just get the standard credit card form from your bank (who you are most likely to get a card from, short of going to the sub prime type cards). However you really to need to be disciplined about it, put on a few items and pay it off rigorously, if you go wild you’ll be a worse state.
In a few years you can think of switching to one with a better deal, this is just a "starter" card to get your rating established.


You may find just getting the card makes you credit worthy as it can be another mark for you in the networks eyes, it depends how they score it, however if you get turned down for a card, DO NOT try lots of other places, each one will do a credit search, and too many searches may make it look like you desperate for credit and get you rejected.

bubbawelsh

just logged onto my internet banking and this is the standard credit card they offer, im really nto sure on what is the score with credit cards as ive never had one so could someone please explain whats the important bits that i need to look out for and say if this one is anygood



0% for 15 months on balances transferred within 30 days of you opening your account. 2.9% balance transfer fee applies, minimum £5.
0% on purchases for 3 months from account opening.
Typical 16.9% APR variable.
No annual fee to pay.
Free additional credit card for partners or family members over 18.
24-hour worldwide assistance and an emergency cash advance if your card is lost or stolen.
Up to 8% discount on Thomas Cook holidays booked through the HSBC Travel Club.
Up to 56 days' interest-free period available when you pay your whole credit card balance in full and on time.

caffinebassman

bubbawelsh wrote: »

as i see it my options are 1 try another network
2 wait a year and try again

has anyone got any other things that i can do, before i go to my bank and get a sales pitch or any suggestions for me

many thanks

As per other above by gjchester, it may not be a bad idea to get a credit card with a low limit.

Now you could kill two birds with one stone here - if you choose wisely and get a card with as long a 0% on purchases period as possible you could buy a PAYG iphone from Tesco and pay for it over the 0% period of the card and just top up as and when.

Please understand though, I'm not suggesting you do this, I'm just thinking out aloud again. Only you can know if this is an approach that will suite you and if you have the discipline (and obviously the money) to pay for the phone over the 0% period. It is though one way to both get an iPhone and to build a little more of a credit profile.

Also, will the Tesco (O2 I believe) network suite you etc?


[Edit] our posts crossed. I'd strongly suggest you go here http://www.moneysavingexpert.com/cards/

Read, read and read again before you make any descisions.

gjchester

bubbawelsh wrote: »

just logged onto my internet banking and this is the standard credit card they offer, im really nto sure on what is the score with credit cards as ive never had one so could someone please explain whats the important bits that i need to look out for and say if this one is anygood

Not bad, not great.

However remember why you want this card, Your not going to use it for anything special. It's to put small low value items on it (read sub £100 a month TOTAL) and PAY OFF IN FULL EACH MONTH.

This shows you are being responsibe with credit, once you have a few payments on file as being on time and in full you'll have some credit history that any lender / company can use to assess you on. At the moment you have no history so are a complete unknown and more likely to be turned down.

I'll also echo the comments above, Think about it before you do it and be honest. If you know you'll be tempted to spend wildly DO NOT get a card it will lead you into debt.

telsokari

gjchester wrote: »

Not bad, not great.

However remember why you want this card, Your not going to use it for anything special. It's to put small low value items on it (read sub £100 a month TOTAL) and PAY OFF IN FULL EACH MONTH.

This shows you are being responsibe with credit, once you have a few payments on file as being on time and in full you'll have some credit history that any lender / company can use to assess you on. At the moment you have no history so are a complete unknown and more likely to be turned down.

I'll also echo the comments above, Think about it before you do it and be honest. If you know you'll be tempted to spend wildly DO NOT get a card it will lead you into debt.

the credit card thing is the best way to build up a credit rating. i have done this with Amex. you can always also ask for a low credit limit on the card as a way of making sure you can't and don't overspend

bubbawelsh

im really good with money hence the reason i never have had credit in the past, i have a 4 accounts with hsbc when i need to save for something i put the account as a designated place to save money i did this for my car and a holiday in mexico then i set the rule i have to save the full amount then spend,

il do this with a credit card il set a account as a credit card account and use the credit card to buy petrol and food shopping, il then get the petrol drive home and transfer the money out of my current account so i know how much i have for spending money in the month

another thing im thinking is to buy a sofa from scs on 0% intrest over 3 years which works out at (with the 2 sofas and £50 delivery) at £26 a month of which il only be paying £13 because me and the misses will be halves, ill get the credit rating for this aswell,

does anyone disagree with the sofa plan

techno12

bubbawelsh wrote: »

just spoke to credit expert (experian) and the bloke said that my credit history is all fine apart from there is not much of it, because i dont have any credit cards or anything on credit they cant determine how i manage the things i have on credit,

basically i save up for things that i want then buy them when i have the money saved rather than living beyond my means which i thought was the correct way to buy things,

Same here. Years ago I was refused by Cellnet/Genie. I was annoyed as I pay everything upfront and never have credit so my report was minimal. I offered to pay the entire contract value upfront but they weren't having it so I went to Vodafone instead.

..a few days later Genie called up really apologetic (maybe they'd realised that I earned £x per year and could easily afford it, had an existing contract with another provider, and thus they could pay less significance to the credit report) trying to get me to sign up after all, but it was too late by then as I was with Vodafone.