Rolling Monthly vs 12-Month Sim Only Contract (To Improve Credit Rating)

Mattrey

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!

wizzywig27

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.

[Deleted User]

Neither will affect your credit rating since it’s not a real thing.

However they will help improve your credit history

Mattrey

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

[Deleted User]

It makes no difference.

A monthly update is still reported to the CRA’s from the provider