Building credit

Scott_Norman

Hi all. Thank you for reading.

I am sorry if this has been asked before but I need some advice please if its ok.

I have bad credit and I'm trying to build it up as much as I can.

I couldnt get a contract because my credit declines.

Today I was accepted for a 12.50/ month contract. Which I can very comfortably afford. If I was to get that and pay it on time ever month would that build up my credit? Ive also got a £15/ month sim only which I hope is building up my credit.

Thanks in advance.

[Deleted User]

A better way would be regular and sensible use of a credit card. Try your own bank or a sub prime lender if you have a poor history.

Huskyrunner

Yes it will help it sounds daft but i dont know if your network provider does this but ask them if they can cap the contract so you cant go over mins/text/data allowances so you dont get any huge unexpected bills.

Try a sub prime credit ie vanquis/aqua/barclaycard initial etc but do an eligibility check before applying as if you apply for something and are knocked back this can harm you further.

Might be worth you giving checkmyfile.com a look get your scores under a free trial

DCFC79

Keep just 1 contract unless you really need the 2. Just wasting money otherwise. As zx has said get yourself a credit card eg Luma or Aqua.

You weren't turned down for a contract due to your declines since they don't show on your credit history.

What exactly is on your history eg debts etc ?

Lenders want to see you can be sensible with money (be trusted with it and you history is how its done) eg pay credit card bills at end of the month, if you take out a contract you stick to it.

But remember the credit ref agencies don't lend money so the scores need to be taken with a pinch of salt.