Britain is undoubtedly now a nation of mobile phone users. Figures vary but it seems that around half the population currently owns a smartphone - just look at people sat on buses, or in cafÈs glued to their smartphones. And itís highly likely we are going to use them even more in the future ñ for everything from booking hotels to making payments by simply tapping our phone against a sensor, with online sales via smartphone or tablet soaring all the time .
The mobile phone market is hugely competitive, which can be great for the consumer because it means companies often have all sorts of attractive deals available. But if they are giving away handsets worth hundreds of pounds as part of a 24-month contract then they need to know you are going to make your monthly payments on time each month, if you have a mobile phone contract.
In this way, mobile phone networks are not really much different than credit card companies and banks ñ they are normally going to look at the information on your application form and in your Experian credit report to give you a credit score.
Your credit report includes things such as whether you have kept up to date with payments on current mobile phone contracts and credit cards, the total level of credit that you already have, and whether you are on the electoral register, which proves you live where you say you do.
The credit score the mobile phone network gives you is a guide for them to decide whether to accept you as a customer or not ñ the higher your credit score, the better your chance of getting that brand new phone is likely to be.
And your Experian Credit Score is a guide to help you understand your credit report, and how your credit history ñ i.e.: the way youíve managed credit accounts in the past - can have an impact on future credit applications. It can also help you monitor your progress as you get your finances into shape before you next apply for credit.
You can get help finding finance deals that suit your credit profile, and see your credit report and Experian Credit Score whenever you want, with Experian CreditExpert membership.
So if you are thinking of applying for a new phone deal, you may want to check your credit score and then start doing whatever you can to improve it ñ no-one wants to be left behind holding a prehistoric phone!
- Content / Article provided by Experian ñ links to Experian CreditExpert are placed for promotional purposes