I have mortgage BUT O2/CPW failed my credit check :(

GwylimT

My wife is unable to get a phone contract as she has never had a credit card and her only loan is our mortgage, yet our 18 year old son with zero financial history had no problem getting a contract with an Iphone 5.

mobilejunkie

I sell finance as part of my work. I always fear people will be declined by the lender when they are proud of having no history of credit apart from a mortgage. May well have nothing whatsevere to do with adverse entries on credit files.

the_matrix

GwylimT wrote: »

My wife is unable to get a phone contract as she has never had a credit card and her only loan is our mortgage, yet our 18 year old son with zero financial history had no problem getting a contract with an Iphone 5.

Exactly my point. I think it's more to do with profit than risk. Neither CPW or O2 were very helpful.

Techhead_2

the_matrix wrote: »

Exactly my point. I think it's more to do with profit than risk. Neither CPW or O2 were very helpful.

No, it's not unusual for an eighteen year old to have little or no credit history and so the credit part of the acceptance will be weighted less heavily than it would be for a person of the previous generation with no history.

The various pieces of advice above explain the general situation quite well.

Oh .... it's about profit AND risk, as it is with any business.

Nebulous2

Just to offer a potential different interpretation. Carphone Warehouse and their associated companies offer some cracking deals on phones. A lot of people report being turned down, with some of them claiming a credit check was never made. All sorts of theories as to why, including lack of stock. Check out some reviews, look at the Quidco website for instance and the reviews for CPW on there. It might be worth it if you are getting your credit report, looking to see if a credit check has been undertaken.

mobilejunkie

Nothing to do with that. CPW do their own assessment based on the number of contracts and the timescale you've had through them - and sometimes turn you down for that reason. The networks do a separate search if it passes that stage. I've had scores of deals with CPW and they don't generally offer good deals with a view to making excuses as to why people don't get them. In fact, they haven't actually had any deals that good for a long time.

Nebulous2

So there is a possibility the OP has been turned down by Carphone Warehouse without a credit check having been done? His credit report would tell him that wouldn't it?

I've never been turned down by them, but have had some cracking deals on cashback from their other companies. The best one was where they actually paid me £25 for a 24 month contract, but that was some time ago.

pd52

as previously mentioned if i was you i would buy the phone out right and get a sim only contract. Also i would obtain a credit card from your bank and use it pay for your diesel/petrol for example and set up direct debit to pay it off in full every month, you will pay no interest and your credit rating will improve.

However i must say well done living without credit and managing your money well its hard done these days

mobilejunkie

Nebulous2 wrote: »

So there is a possibility the OP has been turned down by Carphone Warehouse without a credit check having been done? His credit report would tell him that wouldn't it?

Er... by definition, no - except by assuming it wasn't done because there is no entry. In either case he'd have to establish WHICH credit refernece agency was used, PAY to get a copy of his file and achieve nothing (unless there is something unrelated on there which has already been covered).