Affordability check

[Lisa_m_marie]

What is an affordability check when upgrading and what does it entail? 

[Cleoriff]

@Lisa_m_marie 

It's a check to see if you can afford the phone and airtime.

No-one wants to talk out a 2 year contract that ultimately you can't afford.

Affordability looks at whether you're able to afford a loan and Creditworthiness assesses how likely you are to actually pay it. ... Checking your Credit Report for yourself allows you to see the exact information that will be used by lenders when they work out your Creditworthiness

[madasaf1sh]

@Lisa_m_marie 

They may also credit check you as well as part of the affordability check, the days of no credit check upgrades are long gone,  as you are taking a loan out on a phone, and a Consumer Credit Agreement, and as such o2 have to abide by the rules for it. 

[Lisa_m_marie]

Thank you I just didn’t know how it’s done, what information it needs. I’m due to upgrade two sim only contracts on the 13th and when I took them out it wasn’t mentioned I’d need to do these checks so just worried now that after all I won’t even be able to upgrade both 😕 

[Cleoriff]

If you have a good credit rating then there should be no problem.

Also if you have been with O2 before and not missed a payment then that will stand in your favour. Best of luck x

[madasaf1sh]

@Lisa_m_marie 

It's done by you ticking a box that say's you agree you can afford the contract for its term that is airtime (and phone), and you are not aware of anything changing in the term of the contract.... 

They will then run any credit checks etc.

[Lisa_m_marie]

See this is where I’m getting confused because they keep telling me there’s no credit check. I have been with them for 6 months never missed a payment on either sim payment. 

[Lisa_m_marie]

I don’t have a good credit history unfortunately but I have been with o2 6 months now and never misses a payment on both sim only contracts 

[anticpated]

You should be ok if your short-term loan payments are never in arrears. But a massive jump to a top end flagship would probably incur a proper check.

[Lisa_m_marie]

I’m not expecting to get iPhone 13 or anything just even 11 pro max on one and the plain 11 on the other I think I’d be pushing it for 12’s 😂