Sky packages and improving credit score.

paulak412

Hello everyone!! I have been working hard to improve my bad credit score. 1 year later i have 3 catalogues and a capital on credit card with i keep a low balance and pay of more than the minimum amount each month to improve my score. I only use these products for improving my credit score and usually just keep the balance at around £100 pound. My question is, why is it that companies like BT show up as paying regularly and not sky? I dont have bt but i do have sky tv, line rental and fibre optic broadband which is £90 pm and paid in full on time for years. Also has anyone else got tips to improve my score, i dont want a mobile phone contract, and if i continue as i am how long should it take to improve? i also pay car insurance and contents insurance.

thanks

[Deleted User]

Not all companies report to all, or any CRAs.

Pay your credit card in full each month to demonstrate you're a good risk. Not being able to clear a £100 balance makes you look as if you're financially stretched.

And ignore the score. It will go up and down but no one sees it but you.

McClane54

I dont think it matters what companies, just as long as your paying them off each month with no late or missed payments, everything just builds up from there

National_Debtline

Hi

Some companies only report to one of the three main UK credit reference agencies, Experian, Equifax or Call Credit (www.noddle.co.uk). It’s worth checking all three to get the full picture. It may be that Sky don’t report to any though as zx81 says, I’m not sure.

There’s an MSE guide to improving credit history here which you might find useful:

www.moneysavingexpert.com/loans/credit-rating-credit-score

James
@natdebtline

paulak412

Thanks everyone, i always thought it was best to not settle the balance each month to show you are paying a regular amount

paulak412

• Credit card companies may reject you for always repaying cards in full.
  You might feel like a dream punter, but for credit card companies you're a nightmare. If they spot this trend, you could be rejected. The most profitable customers are those perpetually in debt, never defaulting, but always meeting the minimum repayment.
  Pay off in full every month, don't use your cards enough, or always shift debt to 0% cards, and if they can spot you (it isn't always that easy), a few may reject you.

[Deleted User]

I've not paid interest in over 25 years and I've never been rejected for any card I've applied for. There's no need to pay interest. Clear in full each month.

National_Debtline

I think it will depend on what type of credit you’re hoping to apply for. Each lender will have their own lending criteria, rather than simply relying on the credit score generated by the credit reference agency.

If you wanted to apply for a mortgage it would be best to show you’re in control and pay off in full each month, but some credit card companies may take a different view if they want to make money from you paying interest. Each lender has their own take on it though.

James
@natdebtline

paulak412

i might pay the catalogue in full each month and pay 30% of the credit card balance each month to balance it out and see how that goes.

[Deleted User]

If you have spare cash you don't need, then yes, paying interest is certainly a good way of getting rid of some of it.

paulak412

i have no defaults or late payments on my file, if i continue to do this, how long do you think it should take to improve my credit file?