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5 Tips to Avail Cheap Contract Phones

Obtaining a new mobile phone can be a big financial decision, especially if you’re planning to get one through a contract. These tips are meant to help you get a contract phone on a budget.

  1. Ask Yourself Whether You Really Need a New Phone

Paying for a new handset is the single biggest factor that affects the cost of your new contract. You should realise that even if you do get a contract promoting ‘free’ or ‘low cash out’, you’ll most likely pay more in the long run through the monthly tariffs. You’ll spend a lot less if you get a sim-only deal if your phone is still in good condition.

On the other hand, if you think that you really need a new mobile, consider the features that would be of use to you. Before you set your heart on any gadget, take the time to research the specs, and ask family and friends for advice on what could be the best handset for you.

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  1. Assess Your Current Usage

In order to get the best plan, it is crucial to know how much you use your phone. If you do not match free texts, data, and minutes according to your usage, you’ll either end up going over your tariffs or overpaying for a package that you rarely use.

  1. Decide Between Contract, Sim-Only, or Pay As You Go

A contract with a handset is best for heavy users because you can spread out the cost of the handset and tariff over time. While you will be locked in for 12, 18, or 24 months, there is no risk running out of credit.

On the other hand, a sim-only contract is best if you’ve already got a handset that you like or if you have the cash to buy one outright. It is also recommended if you’re a heavy user but want more flexibility with your terms. Sim-only contracts usually do not exceed 12 months, and there are options for a 30-day rolling contract, wherein you are free to opt out after each month.

Lastly, a PAYG is an excellent choice for light users who do not want to enter any contract agreement. With PAYG, you are not tied to any provider, and there are no credit checks to go through. You’d only top up as needed, so your mobile allowance would be easier to budget. However, there’s the risk of running out of credits when you most need them.

  1. Nearing the End of Your Contract? Prepare to Haggle

If you’re nearing or already past your contracts end but are completely satisfied with your handset, use it as leverage. There’s a huge market of mobile phones and networks out there competing for your loyalty, so make sure that you are getting the best possible deal. All it takes is some guts. Make an enquiry with your present provider and with others out there. If you’re not getting a good enough deal from your provider, let them know.

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  1. Consider Handset Loans

The most common problem with wanting a new handset – especially the latest smartphone – is that you don’t always have the money to shell out upfront. Even if the said handset is offered free or at a much-reduced cost, you’ll almost always end up paying more over the duration of the contract, so better think long and hard before getting one. In some cases, it would actually be cheaper to obtain a handset through a loan.

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How to Qualify for a Mobile Contract Despite Having Bad Credit?

You’ve heard it again and again. Another rejection. But there’s this phone that you’ve been eyeing for so long, and you really want to land a nice mobile contract deal. However, your credit score’s not doing you any favour. Here are some tried and tested tips in order to ace your mobile contract application.

  1. Start With a Cheap Handset

This could be a bit of a letdown, but it’s actually a very good place to start if you’re having credit score problems but still want a contract phone. It’s hard enough for individuals with fair credit ratings to grab the latest iPhone 7 or the Samsung Galaxy S7 under contract. If your credit rating is poor, your odds are even worse.

Don’t waste yet another application by simply hoping for the best. Remember that the more applications you have that get denied, the worse it will be for your credit rating. Take your chances instead by applying for a cheap handset that you will most likely get accepted for. Once the contract is yours, be responsible and make your payments on time. Soon enough, you’ll see an improvement in your credit rating.

  1. Pay Upfront

Many mobile networks today allow those who are struggling with bad credit to put up some cash deposit with their application. If the companies are paid up front, this significantly lowers their risk of letting out the money. The higher the amount of deposit, the more likely that your application will be approved.

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  1. Find a Guarantor

A family member or friend with good credit rating can actually help you obtain a mobile contract. The role of the guarantor is to be your contract’s co-signer. They will promise in writing that they will shoulder the payments should you default, limiting the risk on the provider’s part. The guarantor basically puts out their name in order to vouch for you, and because they have good credit, they mean a lot to the provider and to your application.

  1. Consider SIM-only

A sim-only contract is a contract in itself, only there’s no phone included. You may be disappointed, but it’s actually a very nice strategy to obtain a mobile contract. Since it’s hard to qualify for the most expensive handsets in your current situation, and getting cheap ones that come with the contract does not please you, your best bet is a sim-only contract. You can simply buy a decent phone that you can afford and use the sim. Not only can this save you a lot of cash, but it can also help repair your credit as you pay your dues timely.

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Common Credit Rating Problems

Your credit is more than just your ticket to taking out credit cards, buying a car, or buying a home. Nowadays, every financial move you’re planning to take will be based on your credit. As unbelievable as it may seem, you may not even find a place to rent if you have bad credit.

What if the Information on My Credit File Is Wrong?

If you spot any form of error on your credit report, you will need to contact the credit agency and ask for them to sort out the wrong information. This may require evidence to prove that you are not at fault.

Where Do I Start If I Have a Poor Credit Rating?

The first step you need to take is to make sure that your payments are made on time to all of your creditors. If unfortunate events force you to miss a payment, be sure to contact your lender and inform them of the situation instead of simply running away. Pay them as soon as possible and pay off any outstanding defaults.

You should request a copy of your credit history and make sure that everything is up-to-date and accurate. For example, if you’ve had a judgment but have already settled the debt, make sure that it was correctly reflected on your file.

If a bankruptcy order has been discharged make sure that a copy has been delivered to credit bureaus.

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It is also crucial to be registered on the electoral roll. For many people, simple measures such as being registered on the electoral roll and filling out forms correctly can make a huge improvement on their credit rating.

You should alert credit referencing agencies if a lender pulled out a copy of your credit report more than once during a single application.

Technically, credit reference agencies allow people to explain their side as to why they have performed poorly. You can actually attach a simple report explaining why you missed your payments.

How Do I Build My Credit History?

One simple way to boost your credit rating is by taking out credit cards or store cards. Use them wisely and make it a habit to pay off the balances in full.

While opening up a variety of accounts can help speed up the process of building your credit, be sure to avoid high-interest rates and clear off balances quickly. Never miss your payments as it will make managing your debt even more difficult.

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It may also be worth asking family or friends to co-sign a credit card or a loan with you. This increases your chances of getting approved and at the same time an opportunity to prove your credit worthiness.

Keep on applying for credit even if you have been refused by others, but make sure you check the reason why after every rejection. Also, space out your applications wisely. Too many applications can be bad for your credit score as well, so be sure to apply only to those which lending criteria match yours.

I’ve Never Had Credit But I Was Still Turned Down

Many people complain that they have been rejected despite not having credit to begin with. The truth is, the lending industry is all about confidence, and you can only gain a lender’s confidence if you have a proven track record of paying off your dues. That in mind, you may have better chances with having little and questionable credit than having no credit at all.

 

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No Credit Check Mobile Phones Myth Busted

In this day and age when there are no credit check versions of everything everywhere – no credit check loans, no credit check credit cards, etc. – it’s quite easy to believe that there are also no credit check mobile phones available.

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Many websites out there promise consumers that they are able to grant anyone a mobile phone contract without the hassle of credit checks. We will tell you why you should be wary of these sites.

First of all, credit checks are always performed whenever you’re on the market shopping for loans, credit cards, mortgage, even just applying for utilities or a mobile contract. This is a step that cannot be skipped because providers want to ascertain that you’ll be able to make your payments to them in the future.

So why are these no credit check companies everywhere? Simple, because consumers take the bait. It is not unknown that there’s a huge number of people suffering from bad credit ratings. Because they cannot traditionally qualify for a loan or a contract elsewhere, the only ‘sound’ alternative may be the no credit check companies.

If they sound too good to be true, it is because they actually are. Do you think they specialise in offering services to bad credit individuals simply because of good will? Of course, they will be the ones to benefit from the deal the most. These companies mean to use your bad credit rating and turn it against you. It’s bad enough that you can’t be granted credit everywhere else, but it’s even worse to fall victim to outrageous interest rates simply because you do not have a choice.

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I personally believe that if you’re looking for no credit check mobile phones because you have unfixed issues with your credit score, please think long and hard. If you have or have had bad credit, chances are you are not in the best financial situation right now. Committing yourself to another expensive, long-term agreement is like suicide. The best thing to do right now is work hard on rebuilding your damaged credit score, and then finally be able to get a mobile contract because you earned it.

 

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How to Get the Best Sim-only Contract?

With so many mobile phone contracts out there, finding out if a SIM-only deal is right for you can be a daunting task. But what exactly is a SIM only deal? It is when you want to have a phone so badly that you can buy it outright; however, you don’t want to deal with recharging your phone credit every now and then that getting a SIM-only package could make everything convenient.

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In a SIM-only deal, you will get a certain amount of texts, calls and even mobile data for a price. The payment is on a monthly basis but is usually cheaper than any regular mobile contracts, particularly those that come with a handset. SIM only contracts will cost you around £5 and this includes 500 texts and 100 minutes of calling.

Pros and Cons of getting a SIM-only contract

Your monthly bill is cheaper because network service providers will only have you paying for text, call, and data, as compared to Pay-As-You-Go plans in which you’d have to pay for the handset too.

Plus, this mobile phone deal does not require you to commit to an 18 or 24-month contract. The minimum term is just 30 days for most service providers. So, the only agonizing wait you will have to endure is the next release of the latest smartphone model. SIM-only contracts can be the best option for those who don’t like to pay long-term and are always on the lookout for the newest mobile phones.

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But with all this, the only downside to getting SIM-only is that you will have to look for and buy your own mobile phone. If you have the means to buy a smartphone outright, there’s no reason for you to not consider signing up for such a SIM-only deal.

To get the best SIM-only deal possible, choose a plan that can cover your usage, plus an allowance for your extra call and texts. Know that you may also switch to a different service provider if they happen to offer better tariff rates so that you can make the most of your money.