Bad Credit Mobile Phones

It is actually impossible to survive without a phone in this era. The phone is the instant connector to the rest of the world need not say an indispensable companion. However, this has only meant hiked phone prices and accessing a good phone has become very expensive. Worse still, people with bad credit constantly face rejection from lenders as it is a general belief that bad credit equals poor finances. But thanks to mobile phones for bad contracts that have made it even easier since all you need is to only commit yourself to pay small monthly installments to a provider who then gives you the phone for zero payment. However, if your credit situation is very bad, you might be required to make a down payment to act as security.

Lower your risk

When applying for a bad credit mobile contract, you also need to be smart in order to improve your chances of approval. For starters, you could request for a low-end mobile phone. Remember, providers see a bigger risk in giving high-end phones. Unfortunately, your poor credit could be all they need to reject you. To avoid having to swallow the bitter pill of rejection lower your risk. Then, after a period of time, once you clear of your current payments you can upgrade to the flagship phone of your choice. Ensure you pay bills regularly as this is a great way to improve your credit score in the long run.

No-credit-check mobile phones

Alternatively, if you want to improve your chances, go for no credit check mobile phones. And as the name suggests, these are contracts that do not require a credit check at all. Providers who offer these kind of contracts will have no interest in your credit history at all. However, such contracts are very risky and might need you to make a down payment as the lender tries to reduce the risk. Additionally, most phones that require no credit check are outdated more often than not. So if you are looking for the latest smartphone then this is not your option.

Guaranteed mobile contract

The option that will ensure you get a high-tech latest smartphone is a guaranteed mobile contract. This contract guarantees you kind of phone regardless of your own credit history. This is because you will be guaranteed. The provider will look, not at your own credit records but that of your guarantor. That is why you need to ensure you choose a guarantor whose credit score is without blemish. To increase your chances of getting that Samsung Galaxy 7 Edge without sweating, pick a guarantor who is a homeowner. Such guarantors are favored as providers view them as trustworthy and responsible thus they can be able to take up repayments if you fail. Being a homeowner too means that in case you both of you default payments they have something of value to fall back on to cater for the remaining amount. Therefore, ensure you are able to pay up your loan so that you do not put your guarantor in a hard place. And if you know you might not keep up, let them know prior so they can make a decision knowing exactly what they are getting into.