You’ve heard about, you’ve read about it, you’ve seen it in the news; credit checks.
Credit check failures are becoming more and more common, especially when it comes to purchasing a new contract phone. Normally, these failures happen because you have outstanding debts, regularly miss repayments on other loans or possibly because you aren’t on the electoral roll.
Because the latest mobile phones cost a bomb, many networks won’t risk a contract with someone with a bad credit score. However, it’s worth contacting each network individually to see if you’ll pass their checks.
How can I improve my credit rating?
There are plenty of ways you can improve your credit rating. It could be as easy as picking up a credit card and keeping up with the repayments or simply signing up to the electoral roll. But if you’re still struggling to build your score, there are options around.
Networks like GiffGaff often provide a great range of SIM-only deals and in recent years specialist firms like NoHassleMobilePhones.com have started offering no credit check options on more affordable smartphone contracts which can get regardless of your credit history, making them ideal if you’re struggling elsewhere.
What’s the easiest network to get a contract with?
Most networks have identical credit check procedures, but some UK networks to tend to be a bit easier to be accepted by compared to others. Three, for example, have known to have easier acceptance.
However, make sure you pick a deal which suits your credit rating, no network will pass a credit check for someone with a bad credit for the latest iPhone handset with no up-front cost.
We recommend targetting lower monthly cost deals or handsets which aren’t quite the latest to arrive on the market. To help you out we’ve added a few tips for you, these aren’t 100% guaranteed yet can help in many cases
How to pass a credit check…
1. Choose a lower pay monthly tariff and cheaper contract phone.
This offers the least risk to a network when lending you money, making you a much more financially sound option.
2. Go with the network direct.
By going through another retailer, you’re likely to face their credit check as well as one from the network you choose as well.
3. Be prepared to pay an up-front deposit with the main UK networks.
By opting to pay a higher up-front cost, your monthly payments will be lower. The company then has seen you pay a good chunk towards the outright, reducing their risk.
4. SIM only may be your option for now.
If you’re struggling to get a deal after trying these aforementioned tips, why not opt for a SIM only deal? This will be much easier to obtain and can go into any smartphone you should choose.
5. Choose the no credit check contract deals to get you started.
By avoiding non-guaranteed contract deals, you needn’t fear getting disappointed if you do fail a credit check. By opting for a deal with 100% guaranteed approval, you don’t set yourself up for a fall, and you can find some great deals as well.
On top of this, they can sometimes offer a way to upgrade after a set period of time into your contract as well. All you need to do is keep up with your payments during that time period, then you’ll be able to pick up a new handset.