Credit card missed payments/Mobile phone contract

A179

Hi, I've had a credit card since 2002 and was recently told I had missed 72 payments since then.
I always paid them eventually(late payments), never disputed any, the odd time final warning, but always paid eventually, alot of the time it was minimum payments. I owe approx £1,400 and realistically can have it paid off in February as I start a new Job in the new year.

Majority of these missed payments were through laziness even though I had the funds.

I'm guessing my credit score will be poor, I've not yet applied or checked, however my question is does anyone know why I was accepted within minutes for a 2 year mobile phone contract with a £600 phone(approx 30 months ago) if my credit was poor? Slightly irrelevant but I've not missed a single payment on this, £30 a month. Just guessing I've probably made about 25 missed credit card payments in the last 6 years, again, through laziness.

Thanks to anyone who could explain/help.

[Deleted User]

Different companies have different criteria.

A179

I just didn't want to keep being negative when I possibly have a better score than I realise.

72 missed payments isn't clever though I admit.

[Deleted User]

You have score at all. Just credit files.

Lenders will accept, decline and price according to their risk criteria. There's no universal risk criteria. There's pretty much a lender for everyone, at the right price.

A179

Thanks.

I've paid off the last 9-10 minimum monthly payments on time this year, as I say will be paying it off fully in the next couple of months.

I've been getting credit card companies sending me applications during the last few months aswell, I presume this doesn't necessarliy mean you will have a good score?

[Deleted User]

As above. You have no score. Scores aren't a thing.

Marketing packs can be taken with a pinch of salt, but you will have passed some rough criteria in most cases to receive them.

To improve your attractiveness to lenders, pay more than the minimum and always on time.

Dobbibill

Your credit files won't show your missed payments back as far as 2002 - it only shows info for 6 yrs.

As zx81 said - different companies, different criteria.

Maybe think about setting up direct debits for your credit cards - this means they are responsible to collect, laziness need not be a problem then

A179

Thanks, just to add once this credit card is paid off I will be debt free. Just a monthly phone bill.

Will this also work in my favour or will it be irrelevant?

[Deleted User]

Not carrying revolving debt makes you lower risk.

Carrot007

A179 wrote: »

Thanks, just to add once this credit card is paid off I will be debt free. Just a monthly phone bill.

Will this also work in my favour or will it be irrelevant?

Depends. If you close it it will stay as is on your report for six years. If you keep it open it may be better as it will be six rolling years.

cjmillsnun

It’s worth keeping it open once paid off. Then set up a DD to pay in full every month. You can then use it to get something you would’ve bought anyway (fuel is what I use mine for). This then shows responsible use of revolving credit and doesn’t cost you as you won’t get charged interest.