Practical tips to help you improve your credit rating and avoid expensive high interest loans
Is your phone bill spiraling out of control? If you are on the wrong contract, or simply just using your phone a lot, the chances are this will result in a hefty bill at the end of each month.
Read more to find out how you can reduce your bills (updated 22/5/19).
If you have been with your current provider for a while it might be worth giving them a call to see if you can negotiate a better deal. Even if you can’t reduce the monthly cost you might find yourself offered useful add-ons at no extra charge.
These may include international calls, extra data or EU roaming so could be well worth having.
Check out these 14 Mobile Contract Tips
There are many ways to upgrade your handset without renewing your contract which would leave you free to go for a sim only deal from a company like Giff Gaff who offer very reasonable rates.
You could hold on to your current handset, buy a slightly older model outright or perhaps speak to friends who might have unused handsets they would be willing to lend or sell to you.
To see if this may be an option for you, please click here.
Picture messaging always seems to be the thing that comes up under the “Extra charges” section. I’ve just looked at my own current bill and sure enough, 33p for a picture I didn’t really need to send. With wifi almost everywhere now you can use a variety of different platforms to send pictures including Facebook Messenger, Whatsapp and even a simple email.
It’s also worth noting that with some older handsets emoticons can be classed as ‘pictures’ and you will be charged accordingly.
If you have a less than perfect credit rating, then many mobile phone companies will not allow you to get a mobile phone contract and will push you on to PAYG (pay as you go), which is typically more expensive.
So, improving your credit score can help you to reduce your mobile phone bills! For some tips see 3 Top Ways to Improving your Credit Rating in 2019.
Insurance costs can really add up. Some policies cost as much as £14.99 a month so it’s important to think about the type of cover you really need. It’s also worth reading the small print. According to Which? 85% of insurers said that theft due to leaving your phone unattended in a public place isn’t covered. If you’re using an old handset is insurance really necessary? Why not save the money you would have spent and if the worst happens, use that to buy a new handset? If nothing happens you have some money towards a new handset in the future.
Do you really need insurance for your phone? Click here to find out.
If you’re not using all your call, text and data allowance you are probably overpaying on a monthly basis. Have a look at your bills over the last few months and these should give you an idea of your average usage. You can use these figures to contact your provider and ask for a downgrade. You might even find they let you keep the allowance at a reduced rate; it never hurts to give them a call.
Find out more in this great article – Changing, Upgrading or Downgrading your Tariff whilst Mid-Contract.
If you do have a low credit score and are struggling to find an affordable loan, we can offer you some loan options from £500 to £10,000:
Or apply and see the loans you qualify for.