At Natur phones, we love staying up to date with all the latest developments in the mobile phone market. That way, we can continue to inform you as our customers with the best plan of action when searching for a good mobile phone deal.
One thing we have noticed more and more in the past few years is the number of people asking us to help them secure a mobile phone contract. More and more are facing continual rejection by many of the United Kingdom’s top mobile phone providers. Now rejection for mobile phone contracts is nothing new but to us, the numbers were definitely increasing.
So we got our team onto finding out the reason for these rejections and very quickly we had not only narrowed down the problem but found the culprit – bad credit ratings. You see, one of the first things a mobile phone service provider will do when determining if someone should be given a contract or not is to look at their credit rating as well as their credit history. A mobile contract is a form of credit and if an applicant has a history of defaulting on payments or perhaps even ccj’s against their name, they really stand very little chance of securing a mobile phone contract.
Our research however, brought up an interesting new product that we had never heard of before. The aptly name no credit check mobile phone contract give people with bad credit ratings the chance to own a phone on a contractual basis.
How does a no credit check mobile phone contract work?
Well, although this contract is aimed at people with bad credit ratings, those who have been declared bankrupt or even people who are blacklisted, anyone can apply for them. To do so, you will need to find a no credit check mobile phone provider such as Instant Mobile. They will require a number of documents from you to ensure that the application process can be completed. These documents include your identity document, card or even driver’s permit, proof of income (either your last three wage slips or a letter from your employer showing that you are indeed employed as well as your monthly salary), proof of residence (a utility bill, letter from your bank if you are a homeowner or letter from your landlord if you are renting) as well as bank statements from the last three months.
Once you have handed all the information over, the no credit check mobile phone contract provider will firstly verify all your documents are in order and then begin to find a range of mobile phone contracts that they feel will suit your budget. The most important thing here is to find a handset and contract that the applicant will not only be happy with (hey, we all want the best phone possible) but that will not put them under too much financial pressure. There really is no point in taking an iPhone 7 if you cannot pay it off each month and you start to default regularly.
Contracts generally are for a period of twenty-four months and approval can take as little as a couple of hours in some cases but generally no longer than twenty-four hours. Note that because applicants suffer from bad credit ratings and the fact that no credit checks are a factor in deciding if a person is eligible or not, no credit mobile phone contracts are generally a little more expensive than a regular contract found at a high street supplier.
Now after reading this far you are probably thinking that the mobile phone handsets available are really not worth the effort of trying to secure a no credit mobile phone contract. Well, think again! Our research has shown us that there are a number of incredible handsets available on these contracts, even Apple iPhone 7’s as well as Samsung Galaxy S7’s. Of course, many of these will be out of reach for most applying for the contract but if the provider thinks you could afford one each month, you can have one. Our suggestion however, would be to either aim for earlier models of these phones (such as the Galaxy S5 or the iPhone 5s) or any number of budget smartphones that are available with contracts like these. The United Kingdom has recently been flooded with these budget smartphones and despite the negativity attached to the word ‘budget’, these phones are very capable gadgets and more than able to do anything the regular man in the street needs them to.
Can anyone else apply for these contracts?
Although these contracts are more expensive than a regular contract, our research has shown that they are a great way to try and help build up a credit history and a credit rating should you not have one. Many students enter the job market and immediately look for a credit offering in the form of a credit card or a loan to help pay back their fees for example. Because they have no credit history, banks will simply turn them down. Taking out one of these contracts and paying it off over a full term is a great way to improve one’s credit history in an efficient manner.
No credit check mobile phone contracts certainly are set to grow, especially with the current global financial woes as well as continued economic uncertainty in the United Kingdom following Brexit. More and more people will fall into bad credit and will need to rely on these types of contracts to secure a handset for themselves.
So our overall verdict on a no credit mobile phone contract? Well, we approve! Sure there are some negatives like increased monthly costs but a product like this gives everyone access to a smartphone and in our book, that can only be a good thing.