What Is A Good Credit Score To Get A Cell Phone – 10 Great Tips For Finding A Discount
A video about Minimum Credit Score For Mobile Phones.
You can read the full article here – https://helpandadvice.co.uk/minimum-credit-score-for-mobile-phone-contract/
This video looks at the minimum credit score to get a mobile phone.
The first thing is that there is no minimum credit score for a mobile phone contract phone.
However, each phone provider makes their own judgement about whether your credit rating is good enough for their offers.
If you aren’t able to get mobile phone contracts with one provider, for instance, you can try the ones offered elsewhere.
However, you should not apply to lots of providers at once as each application requires another check and that will make your credit rating worse.
Do a little research into the benefits of different phone companies and types of deals to improve your chances.
Depending on the value of the handset you are interested in, your credit history will matter more or less to the provider.
A cheaper phone will require less rigorous credit checks as the instalments owed will be smaller. Meanwhile, a smartphone is many times more expensive and may have stricter terms.
Sometimes, you may have the option of paying a deposit as security, or providing a guarantor as proof that even if you can’t afford the rate of instalments the company will still receive the money they are owed.
You could also get a SIM only contract if you are struggling to be approved for a handset phone contract. If you make all the payments on time, this will actually impact your credit rating in a good way.
If all else fails, you should purchase a pay as you go contract.
These plans work well for people with poor scores, for example, because you can just pay the top up charges when you can afford them or really need the data, minutes or texts.
The reasons that it is easier to get pay as you go SIMs are because you choose to pay the rates in advance each month and there is no obligation to top up every time.
Mobile phone contracts tend to be easier for consumers to access than other types of credit such as a loan, mortgage, or credit card. However, getting a phone contract for bad credit ratings can still be difficult.
There are myths that some phone companies are much easier to get contracts with than others. The reality is that all providers need to check your credit rating as a step in the process.
They need to do this to see if you have bad credit for phone contract services and if you meet their criteria.
Nevertheless, each network does of course have its own preferences and cares more or less about different aspects of your credit report and has different conditions you need to meet.
So, the bottom line is that the answer to the question really depends on your own specific circumstances and there is unfortunately no easy answer.
However, in the UK you have plenty of options and each network uses different credit reference agencies to check your credit.
If you know that you have a better credit score with one credit reference agency than another, then you could apply to a mobile phone provider who uses their credit reports for its customers.