Michael studied Economics and Finance at the University of Derby. After graduating, he began trying to establish himself financially, but found that his limited credit history prevented him from accessing everyday services in his own name.
“It's not that I'm not able to do it, or I'm not capable of doing it, just that the system's saying no.”
Michael had previously used a pay as you go mobile and had not needed credit. But when he applied for a phone contract and broadband, he was declined. He had to buy phones outright and arrange Wi-Fi through his parents’ account, despite having the income to make the payments himself.
“Simply because [I had] no history. I had no phone bills in my name, no credit cards, nothing. So because I had no credit history, I couldn’t really do anything.”
Michael described feeling trapped: he needed a credit history to access products, but could not access the products through which he might establish that history. His older sister had experienced a similar problem and recommended Loqbox.
.png){kind=small}