Multiple phone accounts

Simonsays69

OK, so we have 4 mobile phone account's, each with the same company, these all show on the credit file, each shows the accounts upto date and paid on time every month.

My question is this, does this show as good or does it lower the score? Would it increase the credit score if I shut 3 and kept one or does the 4 look better?

The why...
We have 4 because we were with the company over a decade, they have gone through a number of names and as we have upgraded we have moved from one to another, and overtime managed to get them spread over 4 account.

ashp_2

So you have 4 accounts with the same company and these are reporting separately on your credit file is that correct?

From a lenders point of view as long as they are up to date I don't think it really matters to be honest. It may lower your score a little but your the only one that sees your "score".

Simonsays69

I was thinking about a mortgage search.

Simonsays69

I assumed as it was, in effect, 4 credit agreements it would be bad.

Richey_

Your one year old CCJ from your other thread will be what makes any mortgage difficult.

I would not have thought 4 phone accounts which are being paid each month would make much of a difference except perhaps towards the affordability.

You need to speak to an adverse credit mortgage broker to see what options you have and what they say about the phone contracts when you discuss possible mortgage options.

Simonsays69

Two seperate questions, which is why I posted twice.

So far it's opinion rather than fact, so I'll keep digging.

[Deleted User]

You've not given enough information for facts.

The facts will depend on your entire credit file and which lender you're applying to. You're asking the question as if you have a single credit score.

The generic answer is that it's not a big deal.

Simonsays69

But all the advice is to reduce open credit accounts. The simple question was does having the 4 active mobile phone account's aid loans/mortgages or hinder.

Either you know it does, or you have an opinion on it. I'm only really interested in hard facts, i am finding that there are a lot of opinions but no facts.

[Deleted User]

You seem to have trouble understanding the point - there is no hard answer.

If you have a history defaulting on mobile accounts, then another 4 accounts is A Very Bad Thing.

If you have many accounts and are struggling on affordability, then it it is Quite A Bad Thing.

If you manage your accounts well with a history of making repayments, then it is Not A Big Deal.

If you have defaulted on every account you have every opened, and your four mobile accounts are the only ones you have managed to maintain payments on, then it is A Very Good Thing.

Does that help you understand?

Simonsays69

I'm not sure you understand what I am asking. I'll try one more time.

There are 4 active mobile phone account's all from the same company. All upto date and paid on time.

Or

There's is 1 active and therefore 3 closed accounts paid up to date.

Which is best from a lenders point of view. I am more interested in fact rather than opinion

[Deleted User]

The facts are in post #9.

Please read carefully. There are no simpler terms that I can put it in for you.