Three Must Do Things after Getting a Guaranteed Mobile Phone Contract

Having a bad credit score is the last thing that you would like to come your way. But it is the daily reality for most people in the UK. When your credit score is poor, everyone will look at you with suspicion. From banks to insurance providers, you are a high-risk party not worth doing business with. Now, even phone companies are only giving phone contracts to those with good credit. However, there is no need to worry anymore because it is possible to get guaranteed mobile phone contracts with bad credit.

The benefits of going for guaranteed mobile phone contracts

Most guaranteed mobile phone contract dealers are committed to the principle that no one should go without a mobile phone for communication. These contracts come with great benefits including the following.

  1. The traders do not check your credit score.
  2. You are sure of getting the best mobile phone.
  3. The guaranteed mobile phone contracts give you an opportunity to improve credit score.
  4. You have a chance to own the best smartphone while only paying a very small amount on a monthly basis.

Three must do things to improve credit score after signing a phone contract

Once you have signed a guaranteed mobile phone contract, everything starts there. You need to re-examine personal lifestyle and put all efforts to get out of the financial quagmire. Here are three must do things after signing the contract.

(a)Draw a good debt recovery plan

The first thing to do is ensuring you draw a debt recovery plan. Here, you must clear all the things that pulled down the credit score in the first place. A good debt recovery plan should factor the available resources and direct all energies towards clearing outstanding regulations.

(b)Follow with the credit reference agencies to correct errors in your report

In many cases, people’s credit scores given by agencies contain mistakes. Because reference bureaus use third parties to get your data, incorrect or late information often result to misrepresentation of the score. You should, therefore, visit the agencies, check your report, and correct any error. Indeed, you should correct the report every six months.

(c)Relook at personal lifestyle to reconsider spending

One thing that financial experts about credit score rating is that it has a lot to do with personal spending. If you have a very low credit score, it does not necessarily mean your income is small. The chances are that you are overspending.

When you get a guaranteed mobile contract, it is very important to redefine personal lifestyle. In particular, you should focus on expenditure to establish areas of wastage and nip them. For example, if you and your wife drive separate cars to work every day, consider leaving one at home and directing the savings to clearing debts, paying the phone contract, and growing savings.

The final take

Guaranteed mobile phone contracts are the best choices for people with very poor credit score. However, you can use the outlined three methods to redefine personal lifestyle for faster growth and success. By the time you clear the contract, make sure you are also several steps towards financial freedom.