Goldens Phones

The truth about bad credit mobile phones

No doubt, bad credit mobile phones have soared in popularity in recent years. The popularity of bad credit mobile contracts in the UK alone is testimony to the fact that in as much as some people have reservations about it, a great majority of people in the United Kingdom have wholeheartedly embraced it. From its name, bad credit mobile phones are primarily meant for individuals with bad credit. In other words, those who filed for bankruptcy in the past, have a history of CCJís or any other kind of defaults will find homage in bad credit mobile phones. However, given the many misconceptions about bad credit mobile phones, we thought it better to put the record straight by highlighting a few truths.

Anyone can apply for bad credit mobile phones

Donít fall for the misinformation doing the rounds on the internet that only those with a poor credit rating can apply for bad credit mobile phone contracts. There is no such restriction. In any case, there is no recorded situation whereby a person with a perfect credit history was declined on the basis of having a good credit score. Yes, the contract was unveiled with the view of less than average credit rating individuals in mind but itís not limited to them.

Be prepared to pay considerably high monthly repayments compared to standard mobile phone contracts

Donít be fooled into believing that bad credit mobile phones can be cheaper than standard mobile phone contracts. Because providers view you as risky based on your credit history, the APR for bad credit mobile phones is outrageously high. You should therefore, be prepared to pay high monthly rates compared to individuals with a good credit rating on an ordinary mobile phone contract.

Best shot at improving credit score for those with a poor credit rating

The reality of the matter is that if you have bad credit, getting approved for a phone is almost impossible and this also means your chances of improving your already tattered credit rating is zero. With bad credit mobile phones, this hurdle is removed. Considering that your credit score rating is a non-issue, you can apply, meet your monthly obligations diligently without fail and get to see your credit rating improve over time.

Switching to a different provider is a little difficult and also very expensive

With bad credit mobile phones, switching is made difficult because of the high contract termination charges as well as the minimum period you are required to be locked into the contract. Most UK providers set it at 18 months which of course makes it difficult to switch. The same applies to upgrades unless you have a good account with the provider or rather you always make your payments on time.

You can get approved within a couple of hours

Put your bad experiences of the past behind you. Forget about the status of your credit score. Bad credit mobile phones are here for you and provided that you are eligible and furnish the provider with all the required documentation, approval is done within a couple of hours (mostly under 24 hours or 48 hours maximum)