British Gas / credit checks

tinkerbell28

dbriggs wrote: »

so to have 'good credit' I need some sort of 'debt' which I 'pay monthly over a long period of time'.... whatever happened to 'work hard, save your money in the bank and stay out of debt'? Some world we live in these days, eh?

Not necessarily. Interest free credit card. Pop on a bit of shopping, pay it off, instantly if you wish.

dbriggs

Interest free credit card?!?!?!! (I nearly fell off my chair then!) I assume you mean it has an interest rate but I pay the balance off the same day I use the card, so they don't have chance to charge me any interest? ...or have I missed this while I've been credit-free for 7 years?

tinkerbell28

dbriggs wrote: »

Interest free credit card?!?!?!! (I nearly fell off my chair then!) I assume you mean it has an interest rate but I pay the balance off the same day I use the card, so they don't have chance to charge me any interest? ...or have I missed this while I've been credit-free for 7 years?

18 months interest free on all purchases. So I'd use it to say buy a big, expensive, electrical purchase. For s75 protection, then pay it off.

My rule is, never put on a card, what you couldn't pay off, within the next month or 2 tops.

Then you can get protection.

Fruit_and_Nut_Case

dbriggs wrote: »

Interest free credit card?!?!?!! (I nearly fell off my chair then!) I assume you mean it has an interest rate but I pay the balance off the same day I use the card, so they don't have chance to charge me any interest? ...or have I missed this while I've been credit-free for 7 years?

If you've been out of the loop you may also have missed Cashback Credit Cards which pay you for using them! Admittedly not a huge amount but not to be sneezed at.

dbriggs

Looks like I have some reading up to do! ...and you're saying this will improve my credit worth (as long as I use and pay off or keep well within the terms and payments)?

I'm thinking of applying for a mortgage in the next few years, would this help me?

Former_E.ON_Company_Representative:_Malc

dbriggs wrote: »

Should I expect eon to also do a credit check and lower my score again?

Hi dbriggs

Just a quick heads up. We may ask to do an external credit check for people looking to change supplier to us.

Hope this helps.

Malc

ValHaller

dbriggs wrote: »

So I'm wasting £14.99 a month paying the company (Experian) who hold all the cards anyway?

Yes. For 6 months so-called 'credit score', you could have 'MUG' tattooed on your forehead. And it would be permanent, nothing more to pay. :money:

ValHaller

dbriggs wrote: »

so to have 'good credit' I need some sort of 'debt' which I 'pay monthly over a long period of time'.... whatever happened to 'work hard, save your money in the bank and stay out of debt'? Some world we live in these days, eh?

Depends what you want 'good credit' for. Some of the things which make you a good candidate for sofa credit can harm your prospects of a mortgage

dbriggs

E.ON_Company_Representative:_Malc wrote: »

Hi dbriggs

Just a quick heads up. We may ask to do an external credit check for people looking to change supplier to us.

Hope this helps.

Malc

ok, but as I've had an account for about 7 years in previous properties... and I guess its just 'on hold' until you take over at this property, am I classed as someone 'looking to change supplier' or not?

Former_E.ON_Company_Representative:_Malc

Hi dbriggs

As the property is being supplied by another company it will, I'm afraid, have to go through the change of supplier process.

With you being a customer at previous properties, though, we may only need to do an internal credit check rather than external one. This will depend on the status of the previous accounts.

Hope this helps.

Malc