Do you want to get your hands on the latest iPhone or Samsung Galaxy but worried that your credit rating may prevent your phone contract application’s approval? If you have a poor credit score and you’re thinking of applying for a phone contract plan, you may be in for one major complication.
Major carriers in the UK are less likely to approve your application because you are considered a high-risk customer. With your history of nonpayment, defaults or CCJs, they may lose money along the way. But that’s not to say that you don’t have a chance anymore. If you’re serious and you really need a phone contract, there are some things you can do. Read further for tricks and trips to help increase your chances for approval:
Pay the upfront fee
One of the best ways to increase your chances for approval is to lower the risks on your carrier’s end by paying an upfront fee more than what is required. For high-end handsets such as the latest iPhone or Samsung Galaxy models, you better prepare yourself to pay a much larger upfront fee. This is to pay off a huge chunk of the phone’s cost leaving you with a fixed monthly fee that is more affordable. Remember though that paying a larger upfront fee does not guarantee approval. If you’re thinking of going this route, make sure you speak with your carrier first to make the necessary arrangement.
Ask if your carrier accepts a guarantor
If you know someone who is willing to back up your phone contract application, you may want to ask your carrier if they accept a guarantor. As a way to cater to customers with bad credit, some carriers are now allowing guarantors to co-sign the credit agreement. Just like paying the upfront fee, the guarantor lowers the risks for your carrier hence increase your chances for approval. The guarantor must have good credit, however, to be eligible. Once the guarantor, signs the contract, it means that he or she agrees to pay for your fixed monthly fee in the event that you are unable to do so.
Choose older Samsung or iPhone models
If you can’t find a guarantor to co-sign the phone contract agreement and you don’t have sufficient cash to pay for the upfront fee, there’s another option you may want to consider. Rather than apply for the latest iPhone or Samsung Galaxy, you may want to settle for the older models at least for now. Demand for older Samsung or iPhone handsets is usually lower and cost is also cheaper. With a cheaper handset, it follows that your fixed monthly fee will also be significantly cheaper hence higher chances for approval. Provided that you have proof of income and can handle the fixed monthly fee, you can expect to get approved fast.
Inquire about no credit check phone offers
The last resort in our list is to check out no credit check phone deals. Again, as an attempt to cater to people with bad credit issues, these deals exist solely for people who have been refused a phone contract because of poor credit rating. Unlike traditional phone contracts, these deals do not require any credit check. Even if you have bad credit, approval is almost always guaranteed. In fact, you can get approved within the same day you applied provided that you meet the eligibility criteria. If you ready to get approved for a no credit check phone, head over to http://www.phonesworld.co.uk/ for more information.