Merits of guaranteed phone contracts

Granted, the term “guarantee” is in itself enough to light up the face of a person with a poor credit rating. For a long time, those with a poor credit rating did not have the pleasure of the term “guarantee” any time they sought for a loan facility or a mobile phone contract. In hindsight, we can say application and subsequent approval for a phone contract was a game of chance. A person simply applied for a phone contract, crossed their fingers and hoped for the best. The unveiling of guaranteed mobile phone deals, however, changed or upset the status quo.

What was once a difficult or complex endeavour, became a simple undertaking. Individuals with a less than stellar credit rating could actually apply and get approved without having to worry about credit checks or their history of arrears or defaults. It was more or less simply making an application and getting approved. The headache that came with screening and getting rejected became a thing of the past. In light of this, those with a poor credit rating got a chance at redemption.

You no longer had to live with the burden of having a poor credit score on end but rather could take measures to repair the same through guaranteed phone contracts. The key or rather secret was in ensuring that you did not default on your monthly payments. Over time, your credit score would gradually improve. The second benefit was, of course, the aspect of equality or rather equal treatment.

Before guaranteed phone contracts became a reality, there was the general feeling of discrimination especially for individuals who had a poor credit rating. Providers wouldn’t look twice at applications with poor credit ratings and this created the feeling that those individual were being discriminated against. Add to this the fact that mobile phones are nowadays considered a basic asset and you will understand why those with a poor credit rating were exasperated.

The third benefit of guaranteed phone contracts is that it gave individuals with a poor credit rating an opportunity to repair their already tattered credit score. It also gave those with no prior credit history to their name a chance to build one from scratch. Of course, all these have greatly elevated the stature of guaranteed mobile phone contracts in the UK market. If you were in a quandary as to whether you should apply for guaranteed phone contracts or not, you are now in a better position to make an informed decision!