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Will this benefit my credit rating?
A surprising result has occurred after I bought a laptop from Dell/Alienware on 0% finance.
Dell use Creation Finance for their financing. I ordered a laptop on Xmas day, for £950 and got accepted by creation, paying a 5% deposit by debit card.
When I got to work on the 27th Dec, I discovered on the intranet that we get a discount on Dell, so cancelled the order with Dell and ordered it again with the discount, now paying £900. Creation understandably asked for more info, so I spoke to them and explained the first order was cancelled, whereupon they refunded my original deposit and kept the 2nd one, accepting the agreement.
All good so far, especially as Creation search Equifax, when most other people seem to search Experian, meaning the impact on my Experian credit file from the double search was zero.
Today I have just noticed that Creation have added an agreement to my Experian credit file, as expected, but it is the first agreement, and it shows as settled on the 28th Dec.
This means that without actually having/repaying any sort of loan, I've added another settled account to my credit file with no cost and minimal effort to myself.
Surely this can only be a good thing?
I'm almost tempted to do it once every few months, just order a laptop and cancel the order 3 days later!!!
Dell use Creation Finance for their financing. I ordered a laptop on Xmas day, for £950 and got accepted by creation, paying a 5% deposit by debit card.
When I got to work on the 27th Dec, I discovered on the intranet that we get a discount on Dell, so cancelled the order with Dell and ordered it again with the discount, now paying £900. Creation understandably asked for more info, so I spoke to them and explained the first order was cancelled, whereupon they refunded my original deposit and kept the 2nd one, accepting the agreement.
All good so far, especially as Creation search Equifax, when most other people seem to search Experian, meaning the impact on my Experian credit file from the double search was zero.
Today I have just noticed that Creation have added an agreement to my Experian credit file, as expected, but it is the first agreement, and it shows as settled on the 28th Dec.
This means that without actually having/repaying any sort of loan, I've added another settled account to my credit file with no cost and minimal effort to myself.
Surely this can only be a good thing?
I'm almost tempted to do it once every few months, just order a laptop and cancel the order 3 days later!!!
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Comments
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If you've got a poor history, it could be beneficial. Although having a lot of short term loans may well lead people to think you're a PDL addict, which wouldn't do you any favours.0
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Credit ratings are based on managing a credit facility for amount of time with payments on time etc so I can't see how ordering a product on credit and cancelling 3 days later will help in anyway IMHO.0
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No it will not benefit your rating in any way....0
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