Revolving Credit?

Sillysausageuk

I checked my credit rating and it was only fair even though I had no defaults or late payments on my accounts. Only bad thing was 2 mobile phone contracts less than 10 months old (one mine, one my partners both in my name). Why the hell does a mobile contract have such an effect on credit rating and do lenders use common sense when they look at a credit file or will they just automatically view this badly?

Apples2

They are not bad things to have, quite the opposite, it sounds like they are the only things raising you to fair, not that fair means squat.

Seems like you have nothing there to make you look good, no history is as bad asa bad history.

Sillysausageuk

I've got plenty on my file tho- mortgage, 2 unsecured loans, 2 mobile phones, overdraft and British gas.

Sillysausageuk

That should be an unused overdraft.

poppasmurf_bewdley

So why are the two mobile phone contracts 'a bad thing as opposed to the other things?'

tonkinator

How recent are the loans/mortgage?

Sillysausageuk

Dunno why the phones are bad other than they are "less than 10 months old." Mortgage is 6 1/2 years and loan is 12 months old.

mojo84_2

it seems that in the past i have had problems with mobile phone defaults, even one or two can have a massive impact on your credit rateing

Sillysausageuk

There are no defaults or late payments anywhere on my file.

bigadaj

Sillysausageuk wrote: »

There are no defaults or late payments anywhere on my file.

The scores or ratings from experian, equifax etc mean very little. Just keep your accounts in order and there won't be any issues.