o2 credit rejection

BOB_COCKMAN

Has anybody else been declined for credit by O2 in the last few days. I applied for a 24 month phone contract and was rejected but my Experian and Equifax credit score is excellent? O2 tell me I have been declined twice but Equifax tell me that no credit check has been done on me in the last 12 months. I know O2 has computer issues on Monday, does anybody know if this is linked? Just as a thought, my company credit card was used fraudulently last week , the card was cancelled and re-issued but is registered to my home address - would this have an effect on my credit rating ? I have applied to O2 credit file referrals for an answer but they will take 10 days to get back to me.

Candyapple

1. Your Experian and Equifax scores should be ignored - they are just marketing tools used to get you to pay for their subscriptions. Your credit history is what matters here.

2. If o2 have told you you've been declined twice - did you apply twice? This means that there are 2 hard searches against you. If you only applied once - then you'll need to take this up with o2 and ask them to investigate why you have been searched again without your permission and to remove the search.

3. If no search has been made on Equifax, then o2 don't use that particular CRA to undertake searches. Not every company uses all 3, some 1 or 2 at best.

4. No idea about o2 computer issues on a Monday only.

5. No your company credit card being used fraudulently and re-issued will have absolutely no bearing on your credit files.

Have you checked your credit files with all 3 CRAs?

The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Call Credit: https://www.noddle.co.uk
Equifax: https://www.clearscore.com


Your eligibility is not solely based on one factor; any combination of the following factors might be taken into consideration:

- amount of existing debt
- amount of existing available credit
- history of settled accounts
- history of incurring defaults
- number of recent applications for credit
- age
- whether single, married, widowed, separated or divorced
- whether home-owner, tenant or living with parents
- whether you're on the electoral register
- current employment status
- length of time with current employer
- salary

This is by no means an exhaustive list and how each credit-provider assesses you is different; some companies may not consider many of these factors, some may consider even more. Certain factors may not carry any weight and some might dictate the decision-making process completely - you'll never know.

There is no one rule and the only way you'll know is if you apply and are accepted; ultimately, it's up to each company whether they want to provide you with a phone contract or not and on what terms. They have no obligation to lend to anyone nor explain or justify their lending criteria.

If o2 don't want your business and you have checked that there are no nasties on your credit files, then just take your business elsewhere with another provider.