Do mobile phone contracts go on your credit raring? Or help it?

GingerBob_3

takman wrote: »

What a load of uniformed rubbish!.

Where is your evidence that 1 negative equals about 10,000 positives?.

If this is true then how can you explain that someone I know who has defaulted on 5 mobile phone contracts and a credit card that have all gone to debt collectors took out a new phone contract about 6 months ago for a £700 phone?. Which funnily enough they are already hundreds of pounds behind in payments.
This is all listed on their credit report and they phone company also carried out a credit search which is listed on the same report when giving the contract.

So how did they get this contract if what you say about credit reports and "blacklists" are true?.

Not so.


It's an estimate, of course. Okay, call it 1 to 20,000 then. That might be a bit more accurate. Or to explain in slightly more detail; credit providers don't give a monkeys about green lights, but a single red one over a twelve month period will have them foaming at the mouth, and two red lights over the same period will cause them to dissolve in a pool of excrement.


As to your lucky punter, the situation you describe is truly exceptional and a very, very long way from normality.

takman

GingerBob wrote: »

Not so.


It's an estimate, of course. Okay, call it 1 to 20,000 then. That might be a bit more accurate. Or to explain in slightly more detail; credit providers don't give a monkeys about green lights, but a single red one over a twelve month period will have them foaming at the mouth, and two red lights over the same period will cause them to dissolve in a pool of excrement.


As to your lucky punter, the situation you describe is truly exceptional and a very, very long way from normality.

But that again is no proof and just your skewed view of how credit reporting agencies work. A few red marks will be looked at differently by different lenders and depending on the product they are offering. There are plenty of lenders who are happy to lend to people who even have defaults in return for higher interest rates!.

So to think that all credit providers will turn away business because of a few red marks is crazy. If that were true their would be a massive gap in the market that a new lender would be able to jump into and become the biggest financial provider in the world by having slightly less strict criteria. In reality their are so many lenders that almost anyway can be accepted if they choose the right one.