would another mobile contract help my dire credit or worsen it?

[annemarie83]

Hi, I've got dreadful credit due to past defaults with credit cards and overdrafts. I'm trying to improve my credit rating and pay off my debt as financially I'm ok now, but because of defaults, I cannot get any credit card at all, even c1 rejected me for a secured card, and even though I offered them the bloody money, they said no way!

Because of my record with credit debts and them being passed to dcas, I now will be refused any sort of credit for anything. Last year however, I was accepted for a phone contract with Vodafone, which has no missed payments in a year. My bank also alkowed me to upgrade to a gold account as my internal record with them is okay now and I am always in credit and have owed them nothing since 2008. My strategy now then is to work on my bank until I apply for a small overdraft (I darent ask!) and on my phone provider.

 

However, I looked on my credit report and from 2006/7 two well managed 02 phone accounts are due to drop off in august, leaving me with less history of good repayment. I considered trying Vodafone for an additional phone contract say, on 12 months. I can then chop and change sims, and ensure I don't go over my minutes anyway as well as having two accounts with them in good order.

 

My friend says this is a stupid idea and he doesn't see how two contracts with the same company would help anyway and that it wouldn't make much of an impact and I'd be paying for a new phone. And it might look worse having more phones.

 

I think that beggars can't be choosers and given that I cannot get any credit anywhere else to dilute my defaults, its a good option.

 

What do any credit savvy people think?

 

Thank you!

Edited July 28, 2012 by annemarie83

[maroondevo52]

Hi,

 

What dates are the defaults ?

[annemarie83]

Hi, last one late 2009, so still a while to go!

[maroondevo52]

I can't see having two contracts doing you any favour's, your going to toil with the defaults, best keep all you payments ect up to date.

Maybe someone else can offer you a better option, I'm not all that savvy with credit.