Tips to Consider When Applying with Bad Credit
With more mobile users in UK unable to pay for increasing phone bills, service providers are also becoming stricter when accepting new applications. This means bad credit will more likely end up in rejection. But not to worry though because there are now more options than ever when it comes to bad credit mobile phones.
Even with a plethora of options, however, there are no guarantees. If you don't pay attention, you may still end up being turned down. To avoid that scenario completely, below are key guidelines to keep in mind when applying for your bad credit phone contract.
Go with Cheaper Phones
Having a bad credit record is a disadvantage but it doesn't have to dictate your application's approval or disapproval. If you know how to compromise, you are more likely to get your phone. The key is to choose cheaper handsets. Instead of going after the latest iPhone release or Samsung offering, why not settle for a cheaper yet still up-to-date phone? It does the same thing and you also get the chance to rebuild your credit rating if you pay your monthly dues on time.
Choose Sim Only Contracts
To further increase your likelihood of getting approved, choosing a Sim only contract over the traditional pay monthly deals with handsets is wiser. This is the ideal contract if you already have a phone in hand. Postpone getting the latest phone for now. Instead use your old phone and get only the Sim from your provider.
With Sim only contracts, you're paying cheaper fees per month while still enjoying the benefits of texts, calls and data. Again, it's about being practical knowing that you have a bad credit to consider.
Still not sure if the Sim only option will work for you? To help enlighten you, go to Money Co UK for more information.
Be Ready for a Security Deposit
Service providers turning down applicants with bad credits are all about avoiding the risks of losing money. To give them peace of mind and ensure your approval, you should be ready to pay a security deposit whenever necessary.
Paying a security deposit usually applies if you want a handset to come with your plan. The fee will depend on your phone of choice and its value.
Talk with Network Providers Directly
If you're really serious with nabbing a good phone contract despite bad credit, you should apply directly from the network provider of your choice. Doing so will eliminate third party retailers in the picture hence a better negotiation setting for you to take advantage. If you paint the right picture and come up with a reasonable agreement, your provider is more likely to give you that most suitable deal for your circumstances and finances.
Keep the four guidelines in mind when applying for your phone contract and bad credit shouldn't stop you from getting a good deal. You can even further take advantage of this situation. If you pay on time month after month, you will soon revive your credit rating. If that happens, you are then free to choose the phone you really want the next time you apply for a contract.
For more tips on how to ace your application for bad credit mobile phones, visit PhonesForAll.