The reality of guaranteed mobile phone contracts
If you think of the many disappointments you’ve been through, you can’t help but recognize the important role that guaranteed mobile phone contracts play. Back in the days, the word guarantee followed by the words “mobile phone contracts” was a distant dream. In fact, there was no such thing as a guarantee even to those who had a good credit score. A person had to endure a strenuous screening process before they could be approved for a phone contract. Those with a poor credit rating suffered the most as they received negative responses every time they sought to be approved for a phone contract.
The result was a populace feeling like they are second class citizens and doing everything within their powers to ensure that they got an approval to no avail. Well, that was the period before guaranteed mobile phone contracts became the in thing. The unveiling of guaranteed mobile phone contracts was received with pomp and glamour. At last, having a poor credit score was not a deterrent to those who sought to be approved for a phone contract. All they needed to do was make an application and wait for approval without having to be anxious as was the case in the past.
A guaranteed mobile phone contracts essentially gives you the guarantee of approval. The name was coined to give individuals with a poor credit score a new lease of life. The term “guaranteed” gave them the hope that they were assured of an approval their credit score notwithstanding. It is perhaps the reason why this type of contracts have gained immense popularity over the years. However, in as much as you are guaranteed of an approval, you must first meet the basic requirements.
To apply successfully for a guaranteed mobile phone contract, you are supposed to be a United Kingdom citizen, provide proof that you are at least 18 years of age as well as proof that you receive a regular income. These simple basic requirements must be met before you can be approved for a phone contract. The aforementioned are just the basic requirements. However, if you have a history of CCJs or defaults, some providers might request you for an upfront payment before you can be approved. This is simply to mitigate the risks on the part of the provider.
Alternatively, application for high end phones also require an upfront deposit. High end phones pose the greatest risk in terms of cost should a person default and therefore most UK guaranteed mobile phone contract providers are hesitant to approve a person in the absence of a deposit. Some lenders will require you to make a deposit of somewhere between 50 and 80% before approval. The largest piece of advice when applying for guaranteed mobile phone contracts is that you mustn’t do so blindly. It is highly encouraged that you take your time and do proper research before applying for this type of contracts. After all, with so many providers in the market, it might prove difficult ascertaining the genuine ones!