Securing a good mobile phone contract that fits your condition perfectly is anything but a child’s play. Especially when your credit score is not so good, it can turn out to be quite a nightmare. Most of the carrier companies before signing you on board perform a credit check to confirm whether you will be able to keep up with the monthly payments or not. Those who fail these credit checks, thanks to their dreadful financial situation, find themselves turning to other avenues where it might not be that hard for them to secure a deal and one of them is ‘no credit check mobile phone contracts’.
As the name indicates, companies who offer no credit check mobile phones apparently do not perform any kind of credit check and claim to grant almost anyone a mobile phone contract no matter what their credit score is. Now the idea seems pretty tempting, especially to those who just got rejected from other companies due to bad credit history, the idea that there would be no stress of credit checks and all the lengthy applications involved is very inviting. Plot twist: Such contracts do not exist, check an additional info.
A few odd companies here in UK, do offer no credit mobile phone contracts but they are unreliable because granting a mobile contract to someone without any credit check is practically impossible. Here we would explain why.
Mobile carrier companies have to make money too
Mobile career companies, just like other businesses, are meant to make money. They recover their money through the monthly payments that the client has to pay. Now do you really think any rational company on this earth would ever grant a contract to an individual without knowing whether the customer will be able to keep up with the payments or not?
Credit reports are needed to sign the contract
Network providers before signing you on board go through your financial history as they determine your ability to keep up with the payments from your previous financial handlings and of course, current source of income. If your credit history is good, they won’t hesitate to sign you up. However, if your credit record is not so pleasing like it consists of missed out payments etc, chances are that your application will be rejected because the company would not like to take risks.
Now what these no credit check mobile companies do is lure an already rejected, bad credit customer who does not really have any other option except going for a no credit mobile phone contract. Now you must be wondering what’s in it for the company? Actually, everything in it is for them. Technically, they do promise a contract for everyone but the deal is not always a rational one. Even in the circumstances when one manages to clinch a deal with them; chances are that the handset you are getting is not worth the price you are paying.
Also, mostly what they offer is SIM only deals. You can easily avail those deals despite the bad credit record from major mobile networks. SIM only deals are less risky since they don’t involve mobile phones with which all the risk is associated; any provider happily agrees to grant you one in lesser price than the one no credit check companies are charging.
All we want to make you realize is that these deals are not worth it. You will end up losing the little bit of money that you have left for nothing. What you can do is improve your credit score and meanwhile apply with a bad credit mobile phone company such as Wall Phones to help you out. Check additional info on their website.