When you go to one of Canada’s cell phone providers, you will find that in order to get the phone you want you will have to sign a contact. The network phones company (Telus, Bell, Rogers, Wind Mobile, Virgin, Mobilicity and so on) will want to check your credit reports.
Let’s say you want to buy an iPhone or a Samsung Galaxy and want to take up their offer for $100, instead of full price of $500. If you have a bad credit history, you can forget about being approved.
Why does it matter? Well, let’s say they run a credit check and see that you have missed payments on your credit cards or have late payments on your car loan. They will naturally assume that if you go on a monthly phone contract, you will likely miss payments on the cell phone bill.
Your credit report is made of up everything you can imagine and you’ll probably want to make sure you have fair to good credit. On the credit report it will show all credit cards you own, all your loans, your address information and so on. So there’s no hiding it.
Not many people are aware that each Canadian cell phone network provider has access to credit bureaus. Cell phone companies have different credit checking criteria and some networks are easier to be accepted for than others. If you don’t know where your credit stands, we suggest you go and check your credit at Credit Reports Canada. They offer paid as well as links to where you can obtain free credit reports.
In the meantime, consider only pay-before or pay-as-you-go plans. It is much easier to get approved and no credit checks are involved. Check out Wind Mobile and Mobilicity have many alternatives to going on a monthly plan and still offer great rates for anyone. Good or bad credit.