25 November, 2024
BusinessTechnology

Did You Know Your Mobile Phone SIM Plan Can Help Build Your Credit Score?

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In today’s financial landscape where credit dominates, maintaining a robust credit score is crucial. However, this is easier said than done, especially with one in five UK adults being denied credit due to inadequate credit histories.

Are you aware that the mobile phone SIM plan you use every day could be an effective tool for enhancing your credit score?

Here are key insights into how a basic mobile phone SIM plan can be a significant asset in credit building:

  1. Payment History: Consistently paying your mobile phone SIM plan bill on time each month is seen as responsible financial management. A positive payment history is a crucial element in cultivating a strong credit score in the UK.
  2. Credit Score Improvement: Regular, punctual payments towards your mobile phone SIM plan can incrementally boost your credit score. As your score rises, you could gain access to more favourable credit deals, including loans, credit cards, and mortgages at reduced interest rates.
  3. Financial Discipline: Handling a mobile phone SIM plan diligently fosters financial discipline and budgeting abilities. By prioritising mobile phone bill payments and adhering to usage limits, you nurture sound financial habits that bolster long-term financial stability and credit standing.

Lewis Camilleri, Founder and CEO of Boshhh, stated: “There is a real problem in the UK now with the current cost of living crisis and recession and people are struggling financially more than ever before. “It’s widely reported that increasingly a large proportion of the UK population are financially excluded from many financial products due to poor credit rating so it’s a vicious circle. If you can’t get credit, you can’t build it. With Boshhh we want to be able to stop the vicious circle.”

Boshhh, the pioneering mobile network crafted to enhance customers’ credit scores, targets individuals with poor or nonexistent credit histories. Boshhh guarantees 100 per cent acceptance on its SIM plans and actively works with customers to foster a positive impact on credit files by documenting timely payments, aiding them in improving their credit ratings. Additionally, Boshhh rewards prudent financial behaviour through a credit booster rewards program that offers exclusive discounts and deals at numerous high-street retailers.

News Team

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