Now at Davids Phones, we like to think that we know pretty much everything there is to know about mobile phones but it seems that we don’t.
The other day, we were speaking to one of our regular customers and they mentioned that their son had just taken out a guaranteed mobile phone contract. As we had never heard of these types of contracts, we decided to do a little bit of investigation ourselves.
Who are guaranteed mobile phone contracts aimed at?
Well, guaranteed mobile phone contracts are specifically aimed at people who are suffering financially, especially those who have a bad credit rating. Did you know that if you have a bad credit rating, you are unable to get any form of credit, be it a loan or even a mobile phone contract?
With a guaranteed mobile phone contract, you can now secure a range of handsets on a contract basis, even if you have a bad credit rating, a poor credit record, have been blacklisted or even declared bankrupt!
Not only that, but a guaranteed mobile phone contract is a great way for university leavers to build up a solid credit rating once they start working.
How does it work?
In our research, we found that more and more people are suffering financially over the last 8 years, especially due to the global economic crisis of 2008. This has forced people to miss payments on their credit products, forcing them into a poor credit record and precluding them from a range of credit products.
Luckily, more and more products have begun to surface to help this group with something simple such as owning a mobile handset on a contract basis.
Many companies such as http://www.phonesworld.co.uk/ supply bad credit handsets to people throughout the United Kingdom. To apply, you will need a few documents to speed up the process. These include:
- Your payslips for the last three months
- Bank statements from your main account for the last three months
- Proof of where you reside
How fast till I can secure a handset?
Well in double quick time really. Applications are processed within an hour or two and the result of your application is then conveyed to you. If successful, you will be matched to a range of contract options and the handsets that come with them based on your income and your ability to make repayments without a struggle. Once you sign on the dotted line, you can have your handset within a twenty-four hour period.
So what do we think of these forms of contracts? Well they are a great way for people who have bad credit to indeed have a phone on a contract basis. More importantly, they will be matched to a contract that is easy for them to repay each month and not beyond their means. This gives them a decent handset and allows them to improve their credit rating by paying it off in the proper manner.