Bad credit mobile phones

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It can be pretty frustrating when you are turned down by a mobile phone provider because of bad credit. When you desire a new smart phone, you can easily get it from mobile carriers by paying monthly fees, and that’s where bad credit mobile phones come in. These are contracts where you can still get your choice phone despite having poor credit ratings.

Typically, most carriers tend to reject such customers because they fear incurring loses when you fail to pay the loan. However, with the rise of credit cards, more people are becoming victims of bad credit. Likewise, carriers have come up with ways in which they can assist these customers with poor credit record access mobile phones.

How it works

Just like any other mobile phone contract, you get to sign a deal with the provider of your choice despite your poor credit details of which are normally found on the homepage. The good news is that there are no credit checks conducted so your credit history gets to be overlooked. However, there are some few things that should be taken care of. You get to pay a deposit which will be refunded at a later time during the contract, or immediately you complete your payments. This deposit is pre-negotiated with the carrier. It’s meant to reduce the risk for the carrier, and normally, the higher your deposit, the better the phone you can have.

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Cons

Even though bad credit mobile phone contracts sounds like a walk in the park, they do not lack some caveats that you need to be aware of. First, the price is highly inflated by the mere reason that there are no credit checks involved. This is because the risks involved are usually very high for the lender. You therefore get to pay more for a phone you would otherwise pay a lesser amount.

It is unfortunate that most bad credit mobile phones are a bit outdated, and you’re less likely to get your hands on a flagship killer. However, there are some companies that can let you have the latest smartphones after some few months into the contracts if you prove to be a reliable customer. Ensure you pay your bills on time and regularly as this well have a positive impact on your credit rating.

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In conclusion, if you wish to get the best bad credit mobile deals available, ensure you improve your credit ratings. Typically, dealers will view each applicant with a bad credit history individually. If you have a better rating, you may land yourself a better smart phone and get better value for your money. So stay on top of your game and make your credit score better in any way possible.

Tips to be approved for a mobile contract with bad credit

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Mobile phones have literally become a vital part of our lives. They are like an extension of our bodies, and act as our computers, cameras, alarm clocks and game stations. However, accessing a good smart phone has become difficult particularly if you’ve got a bad credit score. Likewise, vendors will promise you contracts with no credit checks but end up exploiting you and charging you more than necessary. But you need not to worry. If you want to get a good mobile contract despite your poor credit rating, here are some few tips you can use.

Get a co-signer

You can easily get the phone contract of your choice if you get a co-signer with desirable credit ratings. In this case, your co-signer will act as your guarantor and if you fail to pay, they will face the consequences. Remember, the account will be in their name and not yours. Therefore, ensure you talk about this with your co-signer before signing the contract. The good news is, after some time, you can transfer the account to your name without having to pay any deposit. However, you need to have been faithful in your monthly payments.

Pay a deposit

Paying a security deposit will reduce the risks involved in the mobile contract you want to sign, and this will in turn let your carrier agree. It is important to know that deposit amounts vary from carrier to carrier depending with your credit score and the handset you want to own. For instance, iPhones have some of the highest prices in the market, and therefore, the highest deposits.

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Opt for a prepaid carrier

This is a better option for you as prepaid contracts do not require credit checks. This is owned to the fact that you pay in advance and therefore there’s very little risk for the mobile phone provider.  This plan can work best if your old phone is still in good working shape, and you can be comfortable with a SIM-only contract. Remember, using your old phone for some time is not such a bad thing; rather you will be creating a solid platform for restoring your wounded credit score. In the end, you will be able to acquire the best newest top end smart phones without breaking a sweat.

Join a family plan

When you join a family plan, you will not only bypass a credit check, but you will also save some few bucks. This is owed to the fact that mobile family plans are cheaper. Additionally, you can have as many lines on one plan as you wish; could even go up to 10 lines. And only condition to be met is that the main account holder should have good credit. Therefore if you join as a member, you will bypass the credit checks. However, you need to pay up your monthly dues as failure to do so will make the main account holder liable.

In conclusion, after all is said and done, remember that reliability is very key to any provider of mobile phone contracts. Therefore, ensure you show that you a reliable and can be committed to the contract. Some months before applying for a bad credit mobile contract, avoid moving houses as this will create a dim view of your reliability. Additionally, pay up some few of your debt, and use that as evidence that you can be trusted.

 

 

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