Negosentro.com | Mobile Deals for Bad Credit History | Is there anything worse than knowing your credit score is what’s keeping you from enjoying the more beautiful things in life? While no credit score is set in stone, it can take a frustratingly long time to bring it back up, and often costs you new financial opportunities in the process. This phenomenon can be felt pretty keenly when shopping around for a new phone. Nowadays, it’s almost impossible to function in the world without one, but a low credit score can limit you significantly in your financing options–if they’re offered to you at all.
Fortunately, there are several strategies you can implement to get a new phone, even if you have a low credit score. Today we’re here to shed a little light on what these strategies are, and how you can navigate them to get a new phone that’s right for you.
Before you make any big purchase, it’s not unwise to check your current credit score. There’s a myth floating around that checking your credit score will negatively affect it, but this isn’t entirely true. While a “hard” credit inquiry form, let’s say, a house loan lender with whom you’ve applied for a loan will affect your score, a “soft” credit inquiry made by you will not. Studies show that regularly checking your credit score can improve your financial outlook, as taking an active interest in your credit score can highlight areas of your score that are doing great as well as areas that need improvement.
So let’s say you check your score, and all of your worst fears were confirmed: it’s about as low as you expected, or perhaps even worse. Maybe you’re feeling like your dreams of a new phone have been dashed. Fear not, though, as this couldn’t be further from the truth.
- Family plans
The great thing about family mobile plans is that only the primary account holder’s credit history is reviewed. This mobile deals and option mean that a friend or family member with a high credit score can open an account with a major carrier, select a family mobile plan, and bring on additional users with no credit checks. This strategy might be the most attractive option for those who don’t want to ask around for a cosigner or sign up for a prepaid mobile plan themselves. Furthermore, the bill’s responsibility falls on the primary account holder, so all you’ll have to worry about is paying your friend or family member on time. However, if you want to keep family gatherings cordial, we recommend not falling behind on payments to the primary account holder.
- Prepaid mobile plans
Many major carriers, like AT&T, own subsidiary mobile companies, such as Boost Mobile, that only offer prepaid mobile plans. These prepaid plans and mobile deals let you know in advance how much you’ll be paying each month for your phone, and since you’re paying upfront, credit checks aren’t required for prepaid mobile plans. Other benefits of prepaid plans include lower fees than traditional plans and no contracts to bog you down. It might be best to go with a subsidiary like Boost Mobile, as they’ll often provide the same quality of service as its parent company for a fraction of the cost.
- Find a cosigner
The word cosigner might conjure the image of a college-age kid with no credit history, but in reality, people of all ages have cosigners for myriad bills and loans. The good news is you can also opt to bring on a cosigner when purchasing a new phone. Like the primary account holder of family mobile plans, a credit check is only run on the cosigner, so your score will not jeopardize you. However, keep in mind that the cosigner will be held responsible for timely payments, so if you miss a payment, it’ll hurt your cosigner’s score and not yours. If you’re considering this option, try to work out a payment plan with your cosigner before purchasing your new phone. Otherwise, it could lead to a tarnished credit score and a damaged relationship between the two of you.
As you can see, there are plenty of viable options for getting a new phone, even if your credit score isn’t stellar. Moreover, you have the freedom to choose whether you want to ask for outside help or do it all yourself, and the options listed above prove it. We hope you won’t let your credit history stop you from upgrading to a phone that can help you stay connected while preserving your peace of mind.