Reporting to CRAs

[inge4444]

Hi,

To my understanding, pay monthly sim only are reported to CRAs by O2. Has this changed to only reporting of adverse information? (ie missed payments)

I've had a contract for a few months now and my account has not been reported to TU/EQ/EX.

Thanks

[pgn]

See "Late Payments and Defaults" section in this link, @inge4444 --> https://www.o2.co.uk/help/account-and-billing/payment-support

Note: PAYG has no contract associated with it, if you don't top-up, you lose service, and after 6 months, you lose your number too.

Probably not wise to miss payments without talking to O2's Payment Management team first - even then, some processes are automated and you may find you are cut-off or flagged to one or more CRAs.

[inge4444]

Thanks for your reply pgn, however -

1) This is not PAYG, but a pay monthly sim.

2) I have not missed a payment, or made a late payment.

My query is, why is my contract not reported to TransUnion/Experian/Equifax?

[MI5]

@inge4444 

O2 will pass on your details to their credit reference agency partners (Cifas, Equifax, Experian and TransUnion) who will conduct the search.

However, it isn't unusual for some of the agencies to only update their records every 3 or 6 months.

[inge4444]

Thanks for your reply MI5.

Changes can take upto 60 days, from the point of reporting, to show with CRA's. New information typically has a 30 day lead time.

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@MI5 wrote:

@inge4444 

However, it isn't unusual for some of the agencies to only update their records every 3 or 6 months.

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Did you mean O2 only provide updates every 3 or 6 months?

[pgn]

Yes, I recognised you were Contract and that you had not missed a payment.

I think the answer you are looking for has been provided now, and this may answer your last item:

"Credit reporting is voluntary. Not all lenders report information to the three nationwide CRAs — Equifax, TransUnion and Experian. It's up to each individual lender to decide if and when they will report information as well as which of the CRAs they report to, if any."

From: https://www.equifax.com/personal/education/credit-scores/how-often-does-your-credit-score-update/

Yes, about scores, not recording of new contracts - but probably as relevant 

[MI5]

@inge4444 

Yes it could well be O2 that don't send updates immediately. 

I only know from experience on here that it can take longer to show with some CRA's.