What to do when you have bad credit

In case you’re fresh from high school, don’t have a secure job, or you have been laid off from work, simply meeting your monthly bills can prove difficult. This may even affect your credit rating particularly if you’ve got loans. Getting a mobile phone contract can be an even more daunting experience particularly because your chances of getting rejected are exponentially higher. Mobile phone contract providers will conduct credit checks to see your ability to meet your payments. However, there are a few things that one can do in order to secure a phone contract even while having a bad credit rating.

Look for no credit check mobile phones.

These are contracts that will allow you to get a mobile phone without having to provide proof of a good credit rating. The contract has all the other elements of a phone contract such as checking your ability to pay. While you may not be able to secure a high-end phone, you will be able to get a functioning one. It is good to benchmark as many providers as you can so that you can get the best deal possible so as not to compromise on quality. Always remember to explain how you plan to pay the instalments.

Search for guaranteed mobile phone contracts.

With a guaranteed mobile phone contract, you are assured of getting the phone you want. This is because in order to get the contract, you will need to provide details of someone who will pay your instalments in case you default. Look for a guarantor that has a near perfect credit score to lower the risk for the provider and boost your chances of landing a deal.

However, always meet your end of the bargain because at the end of the day, you don’t want to put your guarantor’s finances at a risk, or ruin your relationship. Make sure that there is complete trust between you and your guarantor.

Search for mobile phones for bad credit.

The use of plastic money has resulted in a high number of people with bad credit scores. There are some providers that will offer phones specifically for bad credit as a response to this problem. It is imperative that you do thorough research on as many sites as possible so you don’t fall victim to fraud. Some bad credit mobile phone providers will offer low quality phones to shelter themselves from the possibility of payment defaults. Others, on the other hand, will offer high-end phones but these contracts are usually strict and very risky to get into. The more informed you are, the better, so make sure you do your research well.