If there is something that lenders and mobile providers loathe, it has to be the mention of the word “bad credit”. Businesses exist for the sole purpose of making profit and any indication that a person might be a stumbling object to the end goal is usually sneered upon. In fact, the tradition decades ago was that an application made by a person with bad credit was never glanced at twice. It always found homage in a dust bin. Of course, this very attitude was a great source of pain and distress to those whose credit scores had suffered a beating.
Institutions responsible for lending and mobile providers were unforgiving when it came to dealing with people who had a less than average credit score. Applying for a mobile phone contract, a credit card or even a simple personal loan was a mountain hill, a tall order so to speak. Those with bad credit were terrified at the thought of applying for a mobile phone contract. The mental anguish, embarrassment and the incessant rejections they underwent when applying for a mobile phone contract was reason enough to give them goose bumps.
However, in as much as this was largely the norm for many mobile providers, the practice changed especially with the financial crisis that hit the world in the year 2008. Even the most successful of companies came down. Strong economies suffered a beating and people who initially had a good credit rating suddenly found themselves in debt. Governments made efforts to bail out certain companies and people became more indebted than ever. Mobile phone providers risked losing most of their customers or not attracting any new ones if the age old tradition of approving only people with a perfect credit score was maintained.
A paradigm shift, a change of thinking and strategy was imminent. After all, change is inevitable and businesses that adopt to change are the ones that tend to succeed. With this in mind, most UK providers became lenient when dealing with people with a poor credit rating. The financial crisis opened eyes to many providers in that they suddenly became aware that a poor credit rating is not always a function of financial irresponsibility. In the wake of all these, bad credit mobile phones were born. At last, individuals with a poor credit rating could breathe a sigh of relief as the once cumbersome and involving process of applying for a mobile phone contract had now been simplified. For more info about the process of applying check Instant Mobile.
Bad credit mobile phones had a number of benefits and advantages. For starters, credit checks did not play a significant role in the approval or rejection of an application. One could apply and get an instant mobile within hours provided that they met requirements and provided all the required documentation at the time of application. Secondly, bad credit mobile phones also provided those with a poor credit rating peace of mind. Trust me, the distress that a person undergoes when their mobile phone contract application is denied is not something you would want to experience. Thirdly, bad credit mobile phones provided individuals with a perfect opportunity to rebuild their already tattered credit rating. Provided that a person was committed to making payments without fail, their credit scores were bound to improve with time in the long run.