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Rolling Monthly vs 12-Month Sim Only Contract (To Improve Credit Rating)
Mattrey
Posts: 4 Newbie
Hello MSE Forum,
If considering a new Sim Only Contract (current contract has finished, so due anyway!) to help build a positive credit rating, does it matter whether a Rolling Monthly or 12-Month contract is taken out?
Will both have the same effect, or will you only get the positive credit rating effects from taking out a 12-month contract?
Many Thanks!
If considering a new Sim Only Contract (current contract has finished, so due anyway!) to help build a positive credit rating, does it matter whether a Rolling Monthly or 12-Month contract is taken out?
Will both have the same effect, or will you only get the positive credit rating effects from taking out a 12-month contract?
Many Thanks!
0
Comments
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They would both provide the same data to the credit reference agencies (on time payments) so I wouldn’t worry about taking a 12 month contract if you didn’t want the flexibility of a 30 day rolling contract.0
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Neither will affect your credit rating since it’s not a real thing.
However they will help improve your credit history0 -
Ok, perfect thank you all.
Credit history, apologise Gary!
So taking out a rolling monthly contract would be just as good for 'credit history' as a 12-month commitment 0 -
It makes no difference.
A monthly update is still reported to the CRA’s from the provider0
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