Do you want to own the latest handset but can’t get a phone contract because of bad credit? If major providers have rejected you, you probably don’t want to apply again. Good thing there are bad credit mobile phones.
If you have bad credit and you want to get hooked with a suitable phone contract, bad credit phone deals are the way to go. But before you close any deal, it pays to know the pros and cons of the phone deal. Here’s a quick guide to help you make the best decision:
What are bad credit phones?
Bad credit mobile phones, as the name suggests, are deals specifically offered for people with bad credit issues. These types of deals do not require any credit check hence the approval is faster and easier. In fact, most providers are now guaranteeing same day approval provided that you meet the basic requirements and you can provide proof of your financial capability.
Just like traditional phone contracts, bad credit phone deals let you choose a handset, which may include the latest releases from your favorite brands, and a phone bundle to meet your call, text and data needs. You’ll also pay a fixed monthly fee typically for 24 months to cover for your handset and phone service costs.
Unlike traditional phone contracts, however, the fixed monthly fee may be more expensive than if you have credit. Because lenders are taking higher risks by offering customers with bad credit a phone deal, they compensate for the risks by upping the charges and fees.
Why choose a bad credit phone?
If you’re thinking of getting a bad credit phone, here are some of the advantages you can expect:
Fast processing – Bad credit phones are super fast to avail. Some providers are now promising same day approval. If you’re of legal age, a UK resident and has proof of steady income, you can almost always expect to get approved within the same day you applied for a bad credit phone. To know more about such deals, go to PhonesWorld.
No credit check – The best thing about bad credit phones is the no credit check rule. This means no more worries about your bad credit score getting in the way of your approval.
Why not choose a bad credit phone?
Though easy to avail and perfect for people with bad credit, this type of deals are not always the best option. Here are some disadvantages to think about before you sign any deal:
Limited handset selection – While some providers may offer the latest handsets, you won’t always be eligible to choose one. Your eligibility will depend on a number of factors including your income and credit score.
Can be expensive – Bad credit phones may be more expensive than the usual price too. Considering your bad credit score, providers may up their fees and charges to compensate for the risks hence the higher monthly fees for phone contract deals.
Is a bad credit phone for you?
Bad credit phones while accessible are only recommended as a last resort. Rather than immediately sign up for a bad credit phone deal, you may want to check other alternatives first. Sim only deals, for example, are cheaper and easier to get approved for even if you have bad credit.