CONTRACT PHONES WITH BAD CREDIT

Contract phones are becoming much more popular in the current era. Many good phones come into the market every other month. These phones are advanced in functions and are priced highly. It would be impossible for many to buy these phones in cash. However, mobile phone contracts from companies like AffordablePhone have become the easy option for many to own these phones while paying for them over installments over a certain period.

Applicants looking for contract mobile phones undergo credit checks to reveal the clients credit history in handling debts. This is where the problem comes in. many individuals have a low credit rating with many others having a bad credit rating. This in normal circumstances spells disaster as in the financial world, lenders would have difficulty lending to people they consider high risk borrowers. However, with Runecraft Mobiles, the case is quite different.

Clients with low or bad credit rating are able to make applications that may be approved for phone ownership. Despite bad credit rating, if you show an ability to repay for the phone, your application will be approved. Applicants do not face risk of rejected application as long as they have a source of income able to pay up the installments expected.

Runecraft Mobiles has sampled out the companies that are ready to give out high acceptance rate for applications in the UK and chose to work with these. This has related to our bad credit clients having a higher chance that their applications will be accepted. There however are limitations as to the phones that individuals with low and bad credit rating can receive. Since these have a task to build their credit rating, they are offered lower cost phones whose payment they can easily meet. This offers them a chance to pay for the phone contract with ease and in turn improve their credit rating. The repayment records are usually sent to the credit bureaus to mark the improvement individuals with bad credit rating have made.

Choosing a mobile phone

Phone networks usually categorize mobile phones based on their cost and date of release. The categories include:

Band 1: These are usually the lowest cost and low end handsets
Band 2: These are mid range handsets
Band 3: These are the  latest release and highly priced phone models

Individuals that have a low credit rating have the option to select a phone from band 1 and band 2. The selection depends on their financial position. If their financial state improves and they seem more stable than before when they defaulted in payments, they are granted a band 2 mobile that they can pay up for comfortably. Runecraft Mobiles also has clients that have a good or average credit rating. These individuals are allowed to make a selection from the band 3 mobile phones. Since they are considered low risk borrowers, they are looked upon as individuals that can comfortably meet the high payment expected for the phone.

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