A staggering 61% of people polled by credit specialists Equifax believed that missing one month’s mobile phone payment would have no impact on their credit report.

However, a late payment on any commitment, whether it is a credit agreement or a mobile phone contract, could be viewed by a lender as a possible indication of over indebtedness which may, in turn, mean they decline a new credit application.

Neil Munroe, external affairs director for Equifax, said: “It is worrying when an unexpected large bill arrives but missing the payment deadline is the worst thing to do. Consumers must take mobile phone contracts as seriously as they do their commitments with credit providers. Any missed payment on their credit report could affect their ability to obtain new credit.

“The reality is that different lenders apply different criteria to their credit scoring for new loan applications. So it’s important that all credit agreements and other financial commitments such as mobile phone contracts are kept up to date.”