In this era of advanced technology, staying up to date with the new phone models is a hassle. However, many people who want a new cell phone do not have the cash to buy one. Cell phone financing is a perfect solution to buy a phone without taking out a huge amount of money at once. Many places can lease your phone without checking your credit. There are many options. Let us know more detail about ‘No Credit Check Cell Phone Financing’.
No Credit Check Cell Phone Financing
If you have a bad credit history many cell phone companies will avoid financing your cell phone. As a lot of companies prefer choosing customers that pay their bills on time. These companies will also look into your credit history to see how you manage your finances. Hence even if you have a bad credit history you can still opt for various options that can provide you with a new cell phone financing plan without checking your credit.
Before anything else, you must look at your credit history to make sure there are no errors. Then the best option is to opt for prepaid carriers, where do not check your credit history. You can also opt for a family plan where they use a primary account. Many companies can also lease your phone if you pay a security deposit. The last option that you have is to get a co-signer with a good credit history to help you finance your new cell phone.
Check Your Credit
The first thing to do is to check your credit score to see better the credit check cell phone financing option is good for you or not. As a US citizen, you can get a free copy of your credit report once every year. Therefore, before going for a no credit check plan, you need to see whether your credit is bad enough or not. A lot of times after seeing your credit history you will realize that you can finance your cell phone even with your current situation. Moreover, you can also check for errors in your history and get them removed to improve your score.
Use A Family Plan
If you have bad credit and you want to still lease a phone you can sign up for a family plan. A lot of carriers offer family plans where there is a primary account that can add extra lines. Only the primary account holder’s credit will be checked. The credit score of the additional lines will not be evaluated. The one that holds the primary account is responsible to make the payments. Hence, it’s very important in this case to make the payments on time. If you fail to make the payments the cell phone and the credit history of the account holder will be threatened.
Opt For A Prepaid Carrier
For prepaid cell phone plans, you do not need a good credit history. As in the case of traditional plans, the cell phone companies evaluate your whole credit history. However, in the case of prepaid carrier plants you’re just paying for the service hence it is perfect for bad credit holders. They have multiple advantages as it’s usually cheaper than other cell phone plans. Secondly, there is no contract that you must abide by. Hence, it’s the perfect solution to finance your new cell phone without having your credit checked.
Co-Signer
A cosigner is simply someone who has good credit, and the account is placed under their name. Later, you are added to the account. However, the cosigner is the one who will be responsible for all the payments. They will also face the consequences if the payments are missed. Therefore, in the case of this method you have to make sure that you pay on time.
Frequently Asked Question
- What is cell phone financing?
It means that instead of getting a cell phone by paying the full amount you purchase it on lease. You can use the so phone and pay later inform off monthly installments until the full money is paid off.
- What are the benefits of phone financing?
You do not have to give lump sum money at one time. You can get your phone easily and pay for it later. The installments are the usually small amount that had paid monthly overall specific period.
- Are there any eligibility criteria to apply for cell phone financing?
There are a few requirements before you can lose your phone. One is that you should have a credit card. Hence you should have a valid social security number and be 18 years and older.
- What are the disadvantages all financing your cell phone with bad credit?
If you fail to keep up with your payments, you can jeopardize the credit of others. In case of irresponsibility the customer can also end up worsening their already bad credit. Hence, it’s better did you start working to make your credit history better as well. Lastly by losing your phone you are blinded by a contract. There are also fewer options available when it comes to financing cell phones with bad credit.
Conclusion
This is how one can check cell phone financing. All the relevant details related to this have been covered in the article. We are quite sure that the reader will find this article helpful in the future.
