Contracts

[Anonymous]

hey, i am 18 and wanted to get the iphone 5 with o2 or the iphone 4s and because i had no credit histroy they wanted me to put a £200 deposit down with i wouldn't get back for 4 months do you think this is right? i am considering going with orange that will accept me these are crap and have no consideration for people without credit.

[Liquid]

Hmm I'm 22 and I have no credit history. (Excluding the O2 contract)

Is this online you tried or instore?

[Anonymous]

i went into carephone wearhouse and they said o2 accepted but they want a £200 deposit.

[Liquid]

Hmm

Two things that will help massively.

•are you on the electoral roll?
•how would you feel about taking out a simplicity contract to get some credit history for a while?

[Anonymous]

no im not on the electoral roll, and they said that 2 me but i just want a phone to be honest i dont want to be on a sim because on pay as you go im getting a great deal on the sim so i really wanted a phone contract.

[Liquid]

That's understandable. Unfortunatly the electoral roll is a fairly good way to get more leniency on credit ratings.

Could you get a parent to cosign for it?

[Anonymous]

what does that mean like what would the parent have to do?

[Liquid]

Essentially you'd be in charge of the contract but if you defaulted on a payment they'd be charged automatically maybe with an added fee.

They'd have to cosign the contract saying they are responsible in the event you default on the contract.

I'm not sure if CPW will do it but its your best bet. After a year you'll have a credit rating(of sorts) then you can go on your own:)

[MI5]

Unfortunately with no credit history and no register on the electoral roll you are a huge risk. You "could" take the contract and disappear a month later and O2 would lose out a massive amount of money. If you can find a network that will take on the risk then go for it, at least it will help build up your credit history.

[Liquid]

I presume your parents are on the electoral roll?