Credit Report/Maintenance Questions

xlnc99

Just a few questions about CR and CRA,

1 - How many monthly credit commitments/accounts do you have? This includes bank accounts, mobiles, etc etc

I currently have about 5 mobile contracts with the smallest sim only costs, i.e 3.99 per month. I basically dont use them at all am just trying to boost up my CR by having many accounts all hopefully with GREEN dots and a long history of payments on time. As long as the balance is always zero then that helps. I have read lots of articles on this forum and elsewhere about how many to have and what is a good number etc etc.

In my personal experience (not including credit cards) if you have lots of bank accounts, other commitments i,e bills, phones, internet etc etc its only positive. The more the merrier as long as its all cleared each month and showing up green.

2 - Is there any truth to the fact that any payments made late will not be marked late on your credit report unless its over 30 days late from the payment due date. Basically you have 30 days to pay it from the date your payment date was due. I have read many articles that support this

3 - I have been on the ELEC roll twice. once between 2001-2002 at my first address and at my current address for the last 20 odd years. I am thinking of moving again soon, will this be a hindrance for me in terms of a new register on an electrol roll at a new address for only a short amount of time. Shall i make all my applications before i move or after i move to the new address? Do i wait a year or two before making applications once on the roll at my new address?

Thanks in advance

Ben8282

What are you trying to achieve, for what purpose and what are all these applications that you are planning to make?

xlnc99

I am trying to build my score back up and these applications will be in the form of credit, phones, credit card etc once i keep building

[Deleted User]

1. Just the one mobile plus a couple of credit cards will be fine. Unused accounts such as all your mobiles will very little as they don't demonstrate responsible credit usage..
2. No. A payment is late once it's past the due date. Some lenders may offer a small grace period.
3. Not being on the ER can be a problem.

Don't track your credit worthiness through the score. Assess it via your credit history and account management..

Nebulous2

Build it back up from what? What is the issue you're trying to resolve?

It's not necessary to pay money you wouldn't spend anyway, just to improve history / a score. I have several SIM only deals, but they are all in use by family members.

One or two credit cards, used regularly, well within their limit, and paid in full every month once the statement cones in is probably all you need.

Don't use an overdraft.

Don't pay anything late. If you have time will help, but don't do it again. Don't make a lot of credit applications. It looks desperate and puts off lenders.

Do you have a plan with a need for credit, such as a mortgage? If you do say that and post in the mortgage forum, where you'll get some ideas tailored to your own circumstances.

[Deleted User]

I have as many accounts as I need.

Opening multiple accounts just to build a fictitious score is stupid to say the least.

You really should use the search box or read sticky posts before making inane threads