The 7 Place That Offers Cell Phone Financing Bad Credit

If you badly need a cell phone but lack the cash to purchase one, you can turn to cell phone financing. However, there are many options available for cell phone financing bad credit without a credit check or no down payment required. In this article, you will interact with some of these options and how they operate so that you can purchase now pay later on your cell phone.

Moreover, it can be hectic to afford a new cell phone, and cell phone providers make it impossible for customers with bad credit or a low credit FICO score to lease a cell phone. Interestingly, you can acquire a free cell phone with no deposit no activation fee through a few different sources like using a prepaid carrier, getting a co-signer, or paying a deposit.

The reason why some cell phone companies check on your credit score is to see if you’re likely to settle your bills on time. However, cell phone financing implies that instead of paying a one-time cash payment when buying a cell phone, you can make small monthly payments over time until the total device cost gets paid off. Thus, this type of financing enables you to buy now pay later on your cell phone.

Financing Phones with Bad Credit

Acquiring the latest cell phone with bad credit is a no-walk in the park. For instance, some mobile carriers, like Boost Mobile, require you to get a monthly plan and attain 12 consecutive on-time payments to qualify for financing a new device.

However, with AT&T, you can only qualify for cell phone upgrades with financing if you meet a good credit and attain other requirements, and so it’s the same with Apple. If you require an iPhone, you’ll have to be a qualified customer to upgrade. Or you must have good credit to receive a loan via its iPhone Payments plan.

In this case, the only way is to go through a cell phone leasing provider who gives free cell phone service without paying. This option requires that you’re at least 18 years old, have a reliable income source, possess a bank account, and possess a social security number.

What is Bad Credit?

cell phone financing bad credit

A bad credit rating tells cell phone companies that you’re not liable for your finances. Or, you cannot settle all of your expenses every month which is a red flag to deal with such a person since you’re seen as a risky customer.

According to the FICO score, approximately 20% of Americans have what’s known as subprime credit  ranging from 580 to 669. Besides, another 11% have poor scores below 580, while the 15% have no credit history. If you fall into one of the above categories, getting financing for things essential in life, such as a mobile phone, can be tricky.

Therefore, if you need assistance with cell phone financing, you will look at the options available for cell phone financing with bad credit in the below section. Find out more on free cell phone service for life unlimited everything by following this guideline.

What Are The 7 Places That Offers Cell Phone Financing Bad Credit?

The following are some of the cell phone leasing options you can rely upon include:

i) Boost Mobile- Boost Up

Any Boost customer having a monthly plan of $35 or higher and whose payments for the last 12 consecutive months have been made on time and are not in the Premier Grace Period program qualifies for BoostUP! 

However, financing applies to eligible phones specifically for loyal Boost Mobile customers. You need to cover the down payment and involved taxes and settle off-balance in 18- monthly installments.

Step 1: Check Eligibility

Log in to your Boost account to check if you are eligible for BoostUP!

Step 2: Upgrade to an eligible phone.

Click on the Start Shopping link and select any phone eligible for BoostUP!

Step 3: Checkout

Finish the Installment Billing Agreement settle the taxes and down payment.

Step 4: Pay it down

Purchase the phone in 18  monthly payments, beginning on your next bill.

ii) Cricket wireless- Progressive Leasing

You can take home the phone and accessories you long for today for an initial fixed lease payment! Progressive Leasing provides a lease-To-Own payment plan. Notably, you do not own the leased phone(s) or accessories unless you settle all your lease payments.

However, phone and accessory ownership are optional; and you can terminate your lease anytime by returning the phone.

Follow the below steps to apply:

  • Enroll at Progressive Leasing online or through a participating Cricket store near you.
  • If Progressive Leasing confirms you for a lease, choose your phone(s) and accessories at an authorized Cricket store.
  • You can pick up to 5 phones and up to 5 accessories based on your approved lease amount, and the first device must be at least $149.99.
  • $49.99 initial lease cost is made at the Cricket store; all subsequent lease payments are made directly to Progressive Leasing.
  • You can settle off your lease amount using weekly, 2-weeks, or monthly payment options.
  • 90- day purchase option (3-month option in CA) and other early buyout options are available. The standard agreement offers 12 months of ownership. Early purchase costs more than the retailer’s cash price (except the 3-month option in CA). To purchase early, call 877-898-1970.

Requirements to Apply for a Progressive Lease:

  • Must be 18 years or older 
  • Valid Social Security Number
  • Government-issued photo ID 
  • Active and open checking account numbers
  • Credit or debit card

iii) AT&T -Next Up Cell Phone Finance

AT&T is among the best cell phone providers of buy now pay later on without a credit check or down payment. Besides, with cell phone financing from AT&T Next Up, you can receive approval instantly with no collateral upfront and with no interest rates.

However, customers may qualify for lower introductory fees when they enroll during promotional periods like national holidays (Memorial Day or Independence Day) and Black Friday deals nationwide at qualifying stores. Customers will also get access to their most lovable cell phone and plans options, cell phones via installment billing without a credit check or deposit needed.

iv) Use a Prepaid Carrier

Prepaid carriers don’t need a credit check because you can get absolutely free cell phones without a contract; unlike the major carriers like AT&T, Verizon, and T-Mobile), they don’t provide cell phone financing.

 Instead, if you want to buy a phone directly from them rather than bringing your own device, you have to purchase it outright. In most cases, these phones are older models; hence your outright cost is much less than that for newer devices. 

Most importantly, this option has its pros and cons. Some prepaid carriers in the US provide a diverse range of phones and plans for every budget shopper. But, if you require the absolute latest Samsung Galaxy or iPhone device, you’re going to pay a hefty upfront fee to get the device or, it may be unavailable at all.

v) SmartPay Lease

Another option to look at is the SmartPay cell phone financing. SmartPay provides cell phones with no credit check or down payment needed, and they also have cell phone upgrade programs that feature free cell phone insurance when you purchase the device. 

However, you can work with SmartPay directly or visit cell phone providers such as Verizon, AT&T, and more. With Smartpay:

Step 1: Apply

Apply online, and decisions are instant.

Step 2: Shop

Locate a SmartPay retailer near you or online and select your new phone and accessories.

Step 3: Checkout

Make your first payment using a valid credit or debit card and start using your new phone.

Step 4: Own It

Immediately you complete all of your scheduled payments, you own your cell phone!

vii) Electro finance

Electro finance offers a great selection of top-of-the-line brands for you to choose from, such as Apple, Google, Samsung, and more. If you prefer to lease a Motorola or LG, this option is still available, and there is plenty for you to choose from. 

You can get iPhone financing right now with no credit check and pick it up or have it shipped for free today. You can purchase now and pay later for cell phones at Electro Finance. Follow the below steps:

Step 1: Shop

  •  Look for products you like.
  •  Add product(s) you prefer to your cart.
  •  If approved, you will get set up payments that match your paydays.

Step 2: Apply

To apply, you’ll need:

  •  A valid cell phone number for verification
  •  A legit Social Security Number (SSN) and a Driver’s License
  •  A working checking account.

Step 4: Checkout

  •  Get your device home instantly!
  •  Begin your lease and have the device you require today!

viii) T-Mobile – Smartphone Equality

Smartphone Equality is a program that assists you to acquire the best available pricing on devices, new smartphones,  and additional lines with $0 down on select devices and no credit check. However, Smartphone Equality rewards the loyal customers in that if they pay the bill on time for 12 months, they qualify for T-Mobile’s best lease pricing on new phones and tablets.

How Do You Qualify for Smartphone Equality?

Your payments will get automatically tracked to check whether you qualify for Smartphone Equality. However, signing up for AutoPay makes qualifying for Smartphone Equality even more straightforward and is entirely optional.

Additionally, to qualify for Smartphone Equality, you must make 12 consecutive on-time payments and be on one of the below qualifying plans:

  • Essentials
  • Magenta
  • Magenta Military
  • T-Mobile ONE Plus
  • Magenta Plus
  • Magenta Plus Military
  • T-Mobile ONE
  • Magenta Unlimited 55
  • Magenta Plus Unlimited 55
  • T-Mobile ONE Unlimited 55+
  • T-Mobile ONE No Credit Check
  • Simple Choice with No Credit Check
  • T-Mobile ONE Prepaid
  • Simple Choice
  • Pay-in-advance monthly
  • Simply Prepaid

Benefits of Cell Phone Financing:

  • No cell down payment needed
  • Pay off your cell phones over time
  • Monthly payments are much little than the total price of a cell phone

You can get cell phone plans with free phones,  with bad credit, or a poor history of paying bills timely, provided you find one of these companies below that provided secure cell phone financing without the need of any collateral upfront.

Bottom line

Generally, the best way to own a cell phone with a bad or no credit history is through paying for the total cost of the device at once. However, due to the increasingly high cost for the devices and challenging economic times that leave people with bad credit, you can embrace the cell phone financing policy and purchase your dream cell phone on monthly payments.