The Sub Prime Credit Thread - Part V

izools

never-in-doubt wrote: »

Mobiles & bank account most certainly do count toward any credit profiling - of course they do, regulated or not they are credit products - end of!

I am categorically 100% definite of that! lol

Time to go back to my new home, laters - have fun everyone :T

It was you who told me that mobile phone accounts don't really count toward credit scores when applying for credit products as they aren't credit agreements!

They aren't credit products. They're credit scored but they aren't credit agreements are they? They're airtime agreements which aren't created to comply with or regulated by the CCA 1974

never-in-doubt

izools wrote: »

It was you who told me that mobile phone accounts don't really count toward credit scores when applying for credit products as they aren't credit agreements!

They aren't credit products. They're credit scored but they aren't credit agreements are they?

sorry maybe we crossed wires.... they do not affect you in respect of searches (if you have 10 mobile searched it will be disregarded by a credit card lender, but not by other mobile providers) - live accounts do. So if you have 3 mobile searches it means nothing, have 3 mobile live accounts and it is like having 3 credit cards.....

They are exempt from CCA1974, yep - you're spot on, but they cause problems - basically get rid of any live mobile / catalogue or bank accounts that you do not use!

Oh yea forgot to say, HSBC started (from august) reporting the overdraft limit on my bank accounts under a credit limit! Nightmare - didnt want to see that happening.... eeek! so if I go £1 o/d on first monday of month, it will down-score me as it will show £1 overdrawn, !!!!!! LOL :rotfl:

izools

Brian1966 wrote: »

NEW accounts are actually viewed far worse than having several which are 18 months plus

Quite. Three accounts opened in the last 12 months could portray the debtor as a much greater risk than one ho opened 10 in the last 18~36 months and none in the last 18.

Maintaining the status quo is what it's all about :beer:

izools

never-in-doubt wrote: »

sorry maybe we crossed wires.... they do not affect you in respect of searches (if you have 10 mobile searched it will be disregarded by a credit card lender, but not by other mobile providers) - live accounts do. So if you have 3 mobile searches it means nothing, have 3 mobile live accounts and it is like having 3 credit cards.....

They are exempt from CCA1974, yep - you're spot on, but they cause problems - basically get rid of any live mobile / catalogue or bank accounts that you do not use!

Oh yea forgot to say, HSBC started (from august) reporting the overdraft limit on my bank accounts under a credit limit! Nightmare - didnt want to see that happening.... eeek! so if I go £1 o/d on first monday of month, it will down-score me as it will show £1 overdrawn, !!!!!! LOL :rotfl:

I'm well confused now. I can remember us having this discussion back along and you were adament that having a mobile phone contract on your credit report won't help you get a mainstream credit card only another credit account like card or loan would.

If you didn't post so much I'd probably be able to find it

Hey well anyway good job on the new site! I'll have to peruse at some point.

I take it you saw about Lloyds trusting me now?

Zack1

So should I get rid of my 3 SIM Only thing, the £0 a month one that I had to build my credit rating? If I close o2 (they are playing stupid at retentions and won't give me a decent deal) that would be my oldest account, but I never use it...

izools

Once your Three Sim Zero is 12+ months old then close it. Less and it may look as though you are frivolous with your decisions to take out accounts and some companies may view this as your being an unprofitable, short-term customer

Zack1

izools wrote: »

I'm well confused now. I can remember us having this discussion back along and you were adament that having a mobile phone contract on your credit report won't help you get a mainstream credit card only another credit account like card or loan would.

That was the impression I got from NID too to be fair, I was well confused about that because I know the 3 SIM Only thing was being exploited by a lot on here so thought mobiles must've ment something....

I do remember NID saying mobile searches ment nothing though, thank god, I'm about to get a lot thanks to those clowns at o2....

izools

Zack1 wrote: »

That was the impression I got from NID too to be fair, I was well confused about that because I know the 3 SIM Only thing was being exploited by a lot on here so thought mobiles must've ment something....

I do remember NID saying mobile searches ment nothing though, thank god, I'm about to get a lot thanks to those clowns at o2....

It's different with Equifax (O2) as Equifax don't have "Search type" like Experian do. it's either a full credit search or it is an unrecorded enquiry. So I'm afraid it will affect you with O2.

If the network searched Experian then the search may well follow the trend NID refers to as Experian allow the company to define the type of full search they are making.

Zack1

izools wrote: »

It's different with Equifax (O2) as Equifax don't have "Search type" like Experian do. it's either a full credit search or it is an unrecorded enquiry. So I'm afraid it will affect you with O2.

If the network searched Experian then the search may well follow the trend NID refers to as Experian allow the company to define the type of full search they are making.

Na it's o2 I'm with at the moment, but they're clowns and refuse to give me anywhere near what other networks will, so I'll be off to another network... hopefully they use Experian

Not that I can see my Experian report anyway! It's probably got loads of fraud markers on because I dared to report Experian to the ICO....

And my 3 account is a year old today I think! I'll leave it another month or so though!

ElkyElky

I'm going to open a student account with RBS and make good use of the free overdraft. They say they want you to use it as your main account, which I won't be doing so I hope they won't close it.