strange one with o2, loan??

chrisni1986

have been with o2 over 10 years always contract, now onto my 3rd iphone with them, each time its a 24 month renewal and im fine with that however upon logging onto my credit expert tonight i now have two 02 tabs and one of them says 'loan' £20 x 24" so basically it now appears to anyone searching my file that i have a loan when infact i dont can anyone shed some light as to whats going on?

redcard

http://www.o2.co.uk/refresh/frequent-questions#tabs

chrisni1986

ok so i see now that they've changed things and phones and tarrifs are now seperate but why does it appear as a loan? are they basically putting it down as you've been 'loaned' the value of the phone?

grumbler

All mobile contracts (except sim-only) always were loans (often very expensive) and still are. O2 are the first to openly admit this and to show this explicitly.

greenlightluke

chrisni1986 wrote: »

ok so i see now that they've changed things and phones and tarrifs are now seperate but why does it appear as a loan? are they basically putting it down as you've been 'loaned' the value of the phone?

The Refresh tariff treats your phone as a loan agreement. You are effectively taking finance out on the handset at 0% interest. Hope this helps

forgotmyname

Would it make a difference to any lender?

Made up numbers here but. Say £60 a month phone contract or a £20 a month phone contract and a £40 phone/tablet loan?

I would have thought all they were interested in was the £60 a month outgoings that you already have?

Yes/No or varies depending on lender?