Getting guaranteed mobile phone contracts might seem like a fairy tale but the truth of the matter is that they exist and people with bad credit have access to them. There is no denying that a majority of people in the UK are dealing with credit problems. Most of them are finding it difficult raising money to buy a new phone when it hits the market. The option for them is to go for a guaranteed mobile phone contract and pay the required installments over a period of time. Is this something that is feasible? Can people with bad credit actually get guaranteed mobile phone contracts?
The truth of the matter is that a number of firms in the UK can help you be accepted for a guaranteed mobile phone contract irrespective of your credit history. Of course, this is sweet music to the ears of those with a poor credit history. Such a contract accords them to be guaranteed a mobile phone and accompanying offers without having to break a sweat so long as they are over 18 years, are employed and have the willingness to pay the bills as outlined by the provider.
In as much as going for a guaranteed contract is an attractive option for a person with bad credit, there are a number of things about the contract you need to be aware of beforehand. People with bad credit are generally looked upon as high risk. What this essentially means is that they tend to attract high costs; high interest rates and always suffer the wrath of stringent measures. This is something we can’t blame mobile phone contract providers as they are simply trying to mitigate the risks associated with entering into a contract with a person who has bad credit.
What do we mean by that? How will you be disadvantaged if you have bad credit and seeking for a guaranteed mobile phone contract? Here you can read about some of the advantages you will have to grapple with. Couple of them are mentioned below:
- The interest rates charged will be unusually high
- You will have to contend with a contract that goes beyond 12 months
- The data, texts and calls are more expensive
- You don’t have a free hand to choose your desired handset
- You are required to pay a high down payment
The aforementioned are some of the demerits you will have to grapple with due to bad credit history when you seek for a guaranteed contract. Not a pleasant thing by all means. There are people who belong to the school of thought that a person should not suffer simply because they have had money problems in the past.
That being said, what is the other alternative that people with bad credit have? Do they have to occasionally shoulder high costs and continue to be punished because of their poor credit history? I think not. In light of this, a number of companies in the UK have lessened the burden by providing people with bad credit with the same kind of deal they offer individuals with a good credit history. However, for them to enjoy this, they have to part with a huge upfront payment. In this regard, it’s important that you do not enter into contracts blindly. Take your time to compare and select the best companies that offer guaranteed mobile phone contracts. After all, it’s always important to do business with a provider that values you!