We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The disadvantage of not being in debt.

2»

Comments

  • joegib
    joegib Posts: 45 Forumite
    I suppose we can all understand the use of credit checks by businesses expected to extend credit to a new customer — which is what they're committed to if they provide phone services in advance of payment. I can even understand their negative attitude if the customer has no verifiable credit history. After all, potentially, someone with no history represents hardly less risk than someone with a poor history — they're an unknown quantity. What's incomprehensible in this case is that O2 already have an actual verifiable history of a year's payment compliance by the OP for broadband yet have set that aside in favour of what is in effect a inconclusive report by a third party.

    It's even more incomprehensible if you compare the payment policies as between O2's broadband and phone line services respectively. I signed up to the Standard LLU service in December and without any credit check nonsense, they showered me with largesse — 3 months service free plus a £75 cashback via Topcashback. All this for a £12 p.m. service. Yet if I were to apply for another £12 p.m. phone line service I'd be given the bum's rush because my situation re credit rating is the same as the OP's. It's crazy, I tells ya.

    Disturbingly, this credit rating nonsense now goes beyond situations involving a customer seeking credit. I recently tried to open an A & L easy access account — I already have 2 online accounts with them relating to earlier issues. I got back bumph telling me I had to go through an unusually onerous ID check. When I rang the Helpline to protest about an established customer being put through this rigmarole, I was told that one of their procedures now involved a credit check being done by Experian. This had "failed" in my case so I was being put through hoops for the privilege of lending my money to A & L.

    Bottom line is if you're afflicted with this problem when seeking credit, it may also bite you in the bum when you seek to extend credit (as a saver).

    Joe
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245K Work, Benefits & Business
  • 600.6K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.