When your credit rating plummets, you lose a lot of financial freedom. Basically, you should be prepared to take a lot of rejections when it comes to loans, insurance and other financial matters. Fortunately for you, it turns out getting a mobile phone is not one of those things. In fact, getting a contract with bad credit is easy, if you know where to look.
You might be surprised to find out that practically all major mobile phone network providers in the UK have bad credit mobile phone contracts. Of course they don’t advertise it, but it’s good to know that they have it. Now you might be wondering, why would popular networks even consider people with bad credit as their clients? Well, it boils down to two points:
- Fierce competition – It’s no secret that the mobile network industry is very cut-throat. If you don’t step up, someone else will take your place. And now, companies are realising that bad credit market is starting to get viable. Yes, this means there are a lot of people in the UK with bad credit. Think about it, you’re considered as a separate market now. So even though you might be high-risk clients, it’s still better than nothing. To most providers, the more clients, the better, regardless of their financial status.
- Handset turnover – Remember the phrase, “out with the old, in with the new”? Basically, this is what handset turnover is. It seems like every month, a new smartphone model is released and of course, mostly everyone wants the latest thing. As newer models enter the market, the older ones get pushed to the back of the showroom where they gather dust. So what do providers do with these older smartphones that are not as in-demand? Well, put them on bad credit mobile phone contracts. If you think it’s a bad thing, it’s not. Although they are called “older” mobiles, they are relatively new. In fact, most mobiles included in bad credit plans already have touch screens, mobile Internet and other newer features.
Mobile phone network providers aren’t ones to waste potential clients or outdated smartphones, so they lump them altogether in one good deal. As mentioned, the handsets aren’t very bad; they’re not the latest model, but they’re still relatively new – just not in-demand. So if you don’t really care about having the newest handset in the market, bad credit mobile phone plans are a great idea. Now, even bad credit won’t stand in the way of you owning an awesome smartphone.