Will a new EEA Connection help my credit ?

Unclebunt

So for years I’ve had terrible credit and I’m exploring every possibility to improve. I was in a bad relationship that put me in debt but I’m all good now and nobody will give me a loan or credit card etc but I taken out a new sim only with EE in November (new customer) and today just out of curiousity I added an Apple Watch to my basket for £30 to see what happens and with no credit check or loan agreement I was accepted and the watch it here.

my question is…. As my EE already shows on my credit report but only a sim deal but now because I’ve got an actual device from them that I’ll pay for over 2 years will this show up as responsible on my credit report if I pay every month on time or won’t it affect it as I’m already recorded good payments on a sim.

the guy on the phone just said it won’t show up as a new loan agreement on my credit report but will just change my existing EE agreement from £20 for the sim to a total of £50 with the watch.

so any idea if this watch will help my credit? If not Il just send it back

[Deleted User]

It will just show as a larger monthly commitment.

Only do it if you can afford it and particularly need/want it.

If you want to build a better credit history, credit card usage is the simplest and cheapest (ie free) of doing it. Try applying for a card at the low end. Stay away from loans.

Never pay to build a credit history.

Unclebunt

Yeah I can afford it no problem I’m in a good job and have savings behind me now but I’m just wondering if it will actually help my credit more by having the larger monthly commitment or if it won’t change because if it won’t change Il just do 14 day return.

also I really don’t know how to build my credit more I have a credit builder card and nobody will touch me for a credit card

[Deleted User]

Increasing your costs won't help you lower your risk to lenders.

What is the credit builder card, if it's not a credit card? Is it a pre-paid card?

Unclebunt

Cash plus where you pay 6 a month

Unclebunt

Anyone got anymore advice? Also want to know further ways to build my credit. Nobody will give me a credit card or a loan so I dunno what I’m supposed to do

[Deleted User]

Just give it time. If you have poor credit history, time is the only thing that can fix it until someone will take a risk on you.

But forget about the loan idea. That's like pouring petrol on a chip pan fire.

mcpitman

You don't need any credit if you are saving as you have stated.

Give it 6 months, ensure all your adresses etc are aligned, you are registered on electoral roll and your credit report is all nice and tidy.

Then only get credit either as an "emergency back up" or with a small limit, stick one lot of shopping in that card and pay that off monthly.

That should start building some level of history, then see where you go from there.