is LANDLINE useful for credit scores?

Anthorn

yessuz wrote: »

So then I thought:
I got mobile contract for few years now, I am on Electoral roll for few years now.
Will retaining the Landline improve my credit score if needed (it is still very good tho), or better question - will the getting rid of the land line reduce my score??

Credit Reference Agencies in terms of reporting of a credit account yes.

Lenders in terms of the credit score they apply to your application, perhaps.

Personally, I stick to two essential parameters advised to me way back in 2008: Be on the Electoral Roll and have a landline which is listed in the telephone directory. I also have a telephone which has a call blocker

20aday

From what I've read on MSE in the past credit companies prefer a landline to be entered during an application process as it shows signs of stability.

I guess if you've had your landline/account a long time and it's reported to the three CRAs and you've managed your account well a potential lender may view that more favourably?

GingerBob_3

20aday wrote: »

From what I've read on MSE in the past credit companies prefer a landline to be entered during an application process as it shows signs of stability.

I guess if you've had your landline/account a long time and it's reported to the three CRAs and you've managed your account well a potential lender may view that more favourably?

I don't think the fact you have a landline on your telecom account is reported to the CRAs. Increasingly people do not now have landlines, so lenders need to drag themselves into the 21st century on this one. A landline shows stability? The lenders' main concern is that it gives them an audio route with which to harass you if you pay late.

rtho782

I have Virgin Media, 300mbit, no landline.

I then have a VoIP number which I pay £1.20 a month "line rental" for, that I use as my landline. In fact, it's my old landline number from before I move, ported to VoIP.

Satisfies anyone that wants a landline number for me.

System

I simply use a VOIP geographical number.

I do get some perplexed looks when people notice that it's for a different city than where I live...

Anthorn

GingerBob wrote: »

I don't think the fact you have a landline on your telecom account is reported to the CRAs. Increasingly people do not now have landlines, so lenders need to drag themselves into the 21st century on this one. A landline shows stability? The lenders' main concern is that it gives them an audio route with which to harass you if you pay late.

That's very cynical. In fact the more contact details you can provide the better. Personally, I provide my email address, landline number, mobile number and fax number (actually VOIP but I don't tell them that) as well as my postal address. I don't mind lenders contacting me: They might want to make me an offer of a lifetime that I can't possibly refuse.

boliston

As others have said, VOIP makes a nonsense of the "stability" aspect of a landline number - my "landline" number has never been connected to any sort of physical "landline".

Anthorn

boliston wrote: »

As others have said, VOIP makes a nonsense of the "stability" aspect of a landline number - my "landline" number has never been connected to any sort of physical "landline".

The stability aspect doesn't come from a landline number as such but comes from a telephone directory entry which can be tracked back to you and your address. It's actually a form of address verification almost equivalent to the electoral roll.