With the ever-increasing number of people who get rejected for their phone contract applications due to bad credit, providers have come up with a brilliant solution. They are now offering bad credit phone deals available specifically for people who have a less than perfect credit rating. Even with bad credit, approval is often guaranteed because there are no credit checks involved when assessing your application.
If your phone contract application was ever rejected before, bad credit phones seem like attractive alternatives to traditional phone deals. But is it really the right option for you? Before you can know if getting a bad credit phone is a smart move, it pays to know the pros and cons.
One of the best things about bad credit phones is the fact that your credit score is not considered when assessing your application. So long as you meet the requirements, your application is headed for approval. Another advantage is the super fast processing. If you can provide proof of income, you can get approval in as fast as 24 hours or less. You also get to enjoy the same perks like your choice of handset and phone bundle option.
It’s not all advantages with bad credit phones however. On the downside, bad credit phone deals can be expensive than the usual phone deals for people with bad credit. Carriers are taking more risks offering you a bad credit phone hence they raise the monthly rates to reduce the risks on their end. Handset choices may not be as updated as when you have good credit either. Some providers, for example, may only offer older models and cheaper handsets. Considering your credit history, carriers will rarely offer you the latest high-end smartphones because of the hefty price tags. In any case, bad credit phones are the best way to get approved for a phone contract when you have bad credit.