[frdsmth9]

Does anyone know where i can get a contract phone with bad credit history? My credit rating is bad from my student days :o and i really want to get rid of my payg as its really expensive.

[Ben]

Hey :) Some networks will give you a contract if you put down a deposit. Now I'm not sure, but you might have better luck getting a SIM Only package on a 30 day contract, I can't imagine them being as strict there somehow especially if you're not taking a subsidised handset.

Other than that, you need to improve your credit rating ;) Is there anything outstanding that's continuing to make it bad? Generally speaking the best thing you can do to build/rebuild a credit history is get a credit card with a low limit, i.e. £250 (should be easyish), use it regularly and pay it off IN FULL every month to establish a good record. It'd be a good idea to request a copy of your credit file from Equifax or Experian, too, so you can see exactly what the damage is.

[frdsmth9]

Thanks for the advice Ben. Im already trying to rebuild my credit history but still get turned down for credit. I had a look at sim only contracts and they look pretty interesting. didnt know that they worked on a 30 day contract these days. already have a decent handset, so will give them a try. Thanks!

[jenhenry]

Yep SIM only contracts are the way to go if you have bad credit. Some networks have a package where if you pay 3 months regular bill payment on SIM only, you can then upgrade to a free handset.

[Hands0n]

A very good friend of mine, an ex-bankrupt, has previously offered this advice...

Open several UK Bank accounts, depositing £1 in each.
Then pop, say, £100 in one, leave it there for a week and then shift it to another.
Keep cycling this £100 around the several accounts for a while and see your credit rating automagically improve.
Allegedly, it is recognised that the accounts have liquidity - i.e. money moves in and out - and that is what they are looking at.
He says there are plenty of people with savings accounts stuffed with cash that have poor credit ratings simply because they don't shift it around.

I have a few that I move money in and out of in normal use. A primary one receives the salary, a "budget" account receives a regular fixed amount from the primary and gets used to pay bills, another receives small amounts of savings, and yet another is my "stash" which accumulates my 'toys' money ... Did a credit rating check a couple of years ago and was told I couldn't be a better rating!!! Now thats damn scary for me .....

[Ben]

Hm, yes, I suppose that would help - having a current account in good standing is certainly a good thing, though opening up several new accounts in itself may reflect negatively on your credit 'score' for a while. This is mostly because when calculating a score most credit providers will look at how many credit searches have been undertaken on you recently, and the age of your active accounts, to check for fraud or over-borrowing.

frdsmth9/jenhenry - ads will not be tolerated, regardless of how 'genuine' you make them look :)