If you have never successfully applied for and won approval for a mobile phone contract, you might want to consider guaranteed mobile phone contracts. If you have the misfortune of walking around with bad credit history, getting a mobile phone contract in the UK would be a near impossibility. The good news is that guaranteed contracts exist and you can find them with some online companies regardless of your credit history.
If you have encountered credit problems, do not despair since this situation will not make you ineligible to apply for guaranteed mobile phone contracts. Such contracts are primarily for people with bad credit. However, you will need to show proof of employment and be 18 years or older to be eligible for this contract. Before embarking on the search for companies that provide such contracts, you need to be aware of a few things first.
- Texts and calls are costlier in guaranteed mobile phone contracts
- Monthly line rentals are similarly costlier
- A large deposit is required upfront
- Access to a limited range of mobile phones from which to choose
- Contracts last a much longer period usually from 18 months and above
- The interest rates are much higher
The biggest drawback with the guaranteed mobile phone contracts remains the cost. This is why you are better off applying when employed. If you are unemployed, any difficulty you experience in paying the monthly rates could jeopardize your credit score even further. The contracts are akin to obtaining loan facilities from companies that are prepared for the huge risks associated with loaning to people with bad credit and who no bank is willing to help.
Credit Checks are Mandatory
In the UK, you cannot get a mobile phone contract from any company without the mandatory credit check. The credit check determines your eligibility. The good news is that you can take a few measures that increase your chances of winning approval after applying for the guaranteed mobile phone contract. Some of the steps that you should in this regard take include the following:
- Entering correct details that match with the information credit reference bureaus have regarding you. The accuracy of the information increases your chances.
- Ensure that the address you enter when filling in the details as you apply for the contract is the same with what appears under the electoral registry.
- Select a low-end device or mobile phone. Choose a plan that requires the least monthly repayment schedule that you can afford.
Borrowing a smaller amount always makes you low-risk thus increasing your attractiveness to the lender, in this case the mobile phone providers in the UK. Start with low-cost handsets and work your way up to the costliest and most modern devices by making timely payments and improving your credit scores. Avoid premium handset packages when you win approval for guaranteed mobile phone plan for the first time. Choose such packages later.
Therefore, contact the UK mobile phone companies today for more info regarding guaranteed phone plans.