Get Approved for a Phone Deal Even with Bad Credit
Just because you have bad credit doesn't mean you cannot get approved for a phone contract deal. Sometimes, it's all a matter of using the right tip and trick to convince your provider to say yes to your application.
One of the main reasons major providers turn down applications is because of the high risk involved. When you have bad credit, you are essentially tagged as a high risk borrower. This is because you've been delinquent with your payments at one time or another. In order to get around your bad credit situation, the trick is to lower the risks for your provider. You can accomplish this by trying any one of the tips and tricks below.
- Choose a cheaper handset
- Offer to pay a higher upfront fee
- Get a guarantor to back you up
- Consider bad credit phone contracts
- Opt for a Sim only deal
One of the best ways to lower the risks for providers is by choosing a cheaper handset rather than the high end and latest offers. This will lower the cost of your fixed monthly fee thereby putting you in a better position financially. When your provider sees that you can handle the fixed monthly fee for the next 24 months, chances are high that you're to get an approval rather than a rejection.
If you insist on getting the higher end handset then the best way to lower the risk for your provider is by offering to pay a higher upfront fee. Most of the latest handset offers require a set upfront fee. You can go beyond that to let your provider know you're serious about getting approved. This is, of course, only applicable if you have sufficient cash to spare.
You can further increase your chances for approval by getting a guarantor to back you up with your application. A guarantor guarantees that in the event you can’t keep up with your monthly fees, he or she is there to shoulder it on your behalf. This is a great way to convince your provider that you’re worth saying yes toespecially since they have nothing to lose with you.
In case you are still turned down for your bad credit, there’s another option worth looking into. Rather than give up getting a phone contract, you can instead opt for a bad credit mobile phone contract. This type of contract is especially designed for people with bad credit so approval is usually a breeze.
You may also consider getting a Sim only deal rather than the traditional phone contract. With Sim only, you’re only getting the Sim card so the fixed monthly fee is lower and therefore easier to get approved for.