What You Need To Know When Selecting a Guaranteed Mobile Phone Contract
Has your phone contract been turned down because of poor credit? It is the lowest point that one can sink to. However, there is a bigger problem beyond missing a phone contract. All other financial related institutions will turn down your request for a loan, mortgage and cover. At a time when mobile phones have become so crucial for personal and professional use, operating without one can compromise your success. This is where guaranteed mobile phone contracts come in.
Guaranteed mobile phone contracts are aimed at ensuring everyone can afford a good mobile device no matter the credit score. Therefore, it is not the time to give up on getting the latest mobile phone on the market today. Simply apply for one from the nearest dealer.
Crucial things to know when looking for guaranteed mobile phone contracts
(a)The dealer does not factor your credit score
Most phone dealers in the UK offering guaranteed mobile phone contracts do not factor personal credit rating. What they want from clients is only proof of income and commitment to clear the contract. This means that you need to review the selected providers to get the best contracts.
(b)Breaching the agreement could pull it credit score down
While the bottom line to getting a guaranteed mobile phone contract is the ability to own the best phone even with poor credit, it is very important to stick to the agreement to the end. If you violate the agreed monthly repayments, the dealer will report to the credit reference agencies. The overall impact is pulling down the credit score further.
(c)Ensure to understand the inherent details of the selected contract
Before signing any contract, it is prudent to ensure that every detail has been understood. This is very important because it will determine how much you will spend and overall value of the contract. To do this, carefully review personal phone use requirements and pick the contract that matches it. For example, if you only call for ten minutes, and send twenty messages every day, the ideal guaranteed mobile phone contract should be about 300 talk minutes and 600 SMS per months. Anything beyond there could be wasteful.
(d)The contract is another loan
If you have a very poor credit score, one of the main causes is probably defaulting on the existing loans. Now, you must appreciate that the phone contract is another line of credit. This means that you need to rethink about the repayment carefully. Consider adopting great strategies such as the snowball debt management method that involves clearing debts starting with the ones that have the least balances.
(e)Make sure to understand the best way to improve credit score
The main cause of the current financial issue is poor credit score. You should, therefore, ensure to understand what causes poor credit score and how to address it. There are many ways to achieve this. You can start by correcting errors in your credit score report, ensure all the debts are paid on time, and seek assistance from a financial expert.