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Sim Only Deals with No Credit Check



When you have a bad credit rating, it often becomes hard for you to get a mobile phone contract. However, this doesn’t always need to be the case as there are options still available to people like you, as you will see in our explanation below.

Furthermore, the moment you get your hands on a SIM-only contract, you get an opportunity to finally start improving the credit rating. With time, this will allow you additional options that you can continue exploring.

No credit check sim only


Is It Possible to Obtain a Sim Card Even When You Have a Bad Credit Rating?

The answer to this question is a simple YES. Apart from the Pay as You Go option, it’s also possible for you to choose a SIM Only Plan that doesn’t require a credit check. It’s one of the most popular options provided by different networks. We will look at some of the networks that provide this option later.

Additionally, depending on how bad your credit rating is, you may still get to pass the credit check, more so when dealing with the SIM Only deals. The reason for this being that the credit checks for this kind of deals are way easier to pass compared to the Pay Monthly plans, which happen to offer you an opportunity also to buy a phone.


Are The Credit Check Sim Only Options Best for You?

Typically, the answer to this question is dependent on the kind of credit rating that you already have. For those that have already been refused the SIM-only contracts by their preferred networks, then the only option left to them is to explore the no credit check SIM deals.

Having a credit rating that is good enough to pass the SIM only credit check means that the no credit check won’t be necessary for them and that they are at liberty to choose any networks they prefer.

Once you have noted this, you will also come to realize that there is no downside to choosing a plan that doesn’t include a credit check. It’s something that applies to those who are already happy with the network allowances and prices.


Are There Networks That Provide No Credit Check Sim Only Options and Deals?

FreedomPop, EE, Asda Mobile, Voxi, SMARTY, Giffgaff, and Lebara are some of the networks known to provide SIM-Only options to customers that don’t want a credit check. All plans provided by these carriers are thirty days long. What this means is that the clients have an option to either cancel or change their plans at the end of each month.

Apart from this, you will note that the networks tend to stand out in their own way, as explained below:



At the moment, EE happens to be the biggest name providing no credit check Sim Only deals. But then again, most of their Sim Only deals tend to include credit checks. If you want to avoid the credit checks, you will need to choose one of their Flex plans.

Flex plans normally come with a monthly payment, as is the standard when dealing with the Sim Only deals. You, therefore, don’t need to worry about having to top up frequently. Another thing you will realize is that these options don’t include a contract.

It’s a fact that not only makes them a bit weird but also a middle ground for customers that don’t want to choose between the Pay as You Go bundles and the Sim Only deals. When it comes to functions, they work in the same manner as the Sim Only deals.

A customer that has unused data will note that it will be rolled over to the next month. Moreover, EE will also include an additional 500MB to their monthly allowance after every ninety days. Simply put, this is a plan that is designed to reward loyal customers.



All VOXI thirty-day SIM-Only options are prepaid, which means there’s no need for the carrier to conduct a credit check for interested customers. The network also provides its clients with an unlimited data plan that also offers 5G support. By the time of writing this article, the network had limited all its plans to 4G.

However, it’s always advisable to choose a plan that doesn’t limit the data. It’s the kind of plan that will allow you unlimited use of Facebook Messenger, Snapchat, Pinterest, Instagram, Twitter, Facebook, and WhatsApp, without it having to affect your data allocation.

Considering that VOXI is operated and owned by Vodafone, it means you will get a signal in all the places that have its network.


Lebara Mobile

Lebara is another network known to offer the thirty-day Sim Only deals that don’t include a credit check. Even though the data allocations it provides can’t match what the other networks mentioned above offer, it stands out because it does offer free international calls.

It’s what makes it an ideal choice for customers who have family or friends living abroad.

The carrier also provides free-roaming for customers living in the EU as well as India, which is an option provided by very few carriers. Lebara Mobile relies on the Vodafone infrastructure for it to operate. Clients in the UK will, thus, continue to get signals in all the places they are used to.

As a client using Lebara Mobile, you are guaranteed at least ninety-nine percent 4G population coverage on any given day.



Although Giffgaff does have a range of options, what makes it stand out is the unlimited data option. The carrier calls it the ‘Always On’ deal. It comes with eighty gigabytes of data provided at 4G speeds. When this data allocation ends, you still get to continue surfing, but with a capped speed of 384 kilobytes per second from eight in the morning to midnight each day.

The network is also known to provide highly competitive prices, while also making it possible for its users to tether the allocated data. All this is in addition to providing free roaming all over the European Union. Its operations rely on the O2 infrastructure, guaranteeing users 4G coverage across the UK.

By the time of writing, the carrier didn’t have a 5G service.



SMARTY Mobile is a carrier that stands out by ensuring that customers don’t waste their data. It makes a refund for any data that isn’t used, meaning you will only pay for what you have already used.

Past this, the network also provides an unlimited data plan. However, this plan is exempted from the normal data refunds. You can use this allocation to tether as it doesn’t have any limits, even when using the unlimited data option.

Its network operates via the infrastructure provided by Three, guaranteeing users around ninety-nine percent 4G coverage in the UK.


Asda Mobile

Affordability is one of the things that makes the carrier stand out. It additionally runs on the EE infrastructure, providing ninety-nine percent 4G coverage to UK users.

Furthermore, users in the EU are guaranteed free-roaming as well as the ability to tether. While Asda Mobile may not be seen as the most interesting carrier in this list, it does, however, provide excellent value to users.

For clients who are not looking for a big data allowance, this is an ideal network to consider.



FreedomPop is among the cheapest networks you will find around. For clients who have used mobile phones for a long time, they may remember that its basic plans were free a while ago, though this has changed.

In addition to being free and not conducting a credit check on its clients, the carrier doesn’t do much to help it stand out from its competitors. You should note that it doesn’t support roaming and that tethering will cost you extra.

But then again, if you are only interested in a secondary or basic plan, it will get the job done for you. It relies on the infrastructure offered by Three, thereby guaranteeing ninety-nine percent 4G coverage to the entire UK population.


Does Choosing a Sim Only Deal Assist in Enhancing My Credit Rating?

Simply put, YES, it does! Opting for a Sim Only plan will involve signing a credit agreement regardless of whether the carrier will conduct a credit check or not. What this means is that if you remain up to date with all your payments, then you will continue to build up on your existing credit rating.

For clients that would like to start with a plan that doesn’t include a credit check, they should be happy to note that this may assist in boosting their credit rating. As they continue to make monthly payments, it will come a time when they will get to make a move to any desired plan on offer.


How Do I Retain My Current Number?

As soon as you have ordered for the SIM card, all you will need to do is to call the old network. Make sure to request for the PAC code during the call. On the other hand, you can also text the word ‘PAC’ to the number 65075.

You will then have to wait for the new SIM card to get delivered and then proceed to activate it. Once activated, ensure you have duly filled the transfer form offered by the new network. You can find the form online on the official website.

The website will ask you to submit the PAC code that you had asked for earlier, as well as the number you were using before, including the temporary number in use now. Your number will get transferred as soon as you are done with the form.


SIM Card Size—Which One Do I Need?

Today, many carriers will send their clients SIM cards having multiple sizes. They refer to them as a combi, trio, or multi-SIM card. A user will, therefore, need to choose their preferred size once their SIM card gets delivered. For those that aren’t sure about which size to go for, they should consider comparing the new SIM card to the old one.

Another option is to go online and Google your phone’s make and model. There is, however, a big chance that your phone is using a nano-SIM, more so if you bought your phone in the last few years. The nano-SIM happens to be the smallest sim card in use by most of the handsets manufactured recently.

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Bad Credit

Loans Bad Credit Online – Loans Bad Credit Online – Reforming India’s deposit insurance scheme | Fintech Zoom | Fintech Zoom



Loans Bad Credit Online – Loans Bad Credit Online – Reforming India’s deposit insurance scheme | Fintech Zoom

Loans Bad Credit Online – Loans Bad Credit Online – Reforming India’s deposit insurance scheme | Fintech Zoom

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Bad Credit

Loans Bad Credit Online – Reforming India’s deposit insurance scheme | Fintech Zoom



The government’s incentive to step in and bail out depositors when banks fail is clear from past experience.

By Anusha Chari & Amiyatosh Purnanandam

The failure of the Punjab and Maharashtra Co-operative Bank (PMC) in September 2019 shone a light on the limitations of India’s deposit insurance system. With over Rs 11,000 crore in deposits, PMC bank was one of the largest co-op banks. That the Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance covered depositors, provided little solace when the realisation hit that the insurance amounted to a mere Rs 1 lakh per deposit.

The predicament of PMC depositors is, unfortunately, not an anomaly. Several bank failures over the years have severely strained RBI and central government resources. While co-operative banks account for a predominant share of failures, other prime examples include the Global Trust Bank and Yes Bank failures. These failures entail a direct cost to the taxpayer—the DICGC payment or a government bailout. More importantly, bank failures impose long-term indirect costs. They erode depositor confidence and threaten financial stability, presenting an urgent need for deposit insurance reform in the country.

A sound deposit insurance system requires balancing two opposing forces: maintaining depositor confidence while minimising deposit insurance’s direct and indirect costs. At one extreme, the regulator can insure all the deposits, which will undoubtedly strengthen depositor confidence. But such a system would be very expensive.

A bank with full deposit insurance has minimal incentive to be prudent while making loans. Taxpayers bear the losses in the eventuality that risky loans go bad. Depositors also have little incentive to be careful. They can simply make deposits in the banks offering high interest rates regardless of the risks these banks take on the lending side.

Boosting depositor confidence and reducing direct and indirect costs require careful structuring of both the quantity and pricing of deposit insurance. Some relatively quick and straightforward fixes could help alleviate the public’s mistrust while improving the deposit insurance framework’s efficiency.

India has made some progress on this front over the last couple of years. First, the insurance limit increased to `5 lakh in 2020. Second, the 2021 Union Budget amended the DICGC Act of 1961, allowing the immediate withdrawal of insured deposits without waiting for complete resolution. These are very welcome moves. Several additional steps could bring India’s deposit insurance system in line with best practices around the world. Even with the increased coverage limit, India remains an outlier, as the accompanying graphic shows.

The government’s incentive to step in and bail out depositors when banks fail is clear from past experience. However, these ex-post bailouts are costly. The bailout process also tends to be long, complicated, and uncertain, further eroding depositor confidence in the banking system. A better alternative would be to increase the deposit insurance limit substantially and, at the same time, charge the insured banks a risk-based premium for this insurance. Under the current flat-fee based system, the SBI pays144 the same premium to the DICGC—12 paise per 100 rupees of insured deposits—as does any other bank!

A risk-based approach will achieve two objectives. First, it will ensure that the deposit insurance fund of the DICGC has sufficient funds to make quick and timely repayments to depositors. Second, the risk-based premia will curb excessive risk-taking by banks, given that they will be required to pay a higher cost for taking on risk.

India is not alone in trying to address the issue of improving the efficiency of deposit insurance. The Federal Deposit Insurance Corporation (FDIC) recognizes that the regulatory framework governing deposit insurance is far from perfect and the United States is moving towards risk-based premia. The concept is similar to pricing car insurance premia according to the risk profile of the driver. The FDIC computes deposit insurance premia based on factors such as the bank’s capital position, asset quality, earnings, liquidity positions, and the types of deposits.

In India, too, banks can be placed into buckets or tiers along these different dimensions. The deposit premium can depend on these factors. It is easy to see that a bank with a worsening capital position and a high NPA ratio should pay a higher deposit insurance premium than a well-capitalized bank with a healthy lending portfolio. The idea is not dissimilar to a risky driver paying more for car insurance than a safe driver.

Risk-sensitive pricing can go hand-in-hand with the increase in the insured deposit coverage limits bringing India in line with its emerging market peers. In a credit-hungry country like India, these moves would build depositor confidence, possibly increasing the volume of deposits and achieving the happy result of the banking system channeling more savings to productive use.

Chari is professor of economics and finance, and director of the Modern Indian Studies Initiative, University of North Carolina at Chapel Hill and Purnanandam is the Michael Stark Professor of Finance at the Ross School of Business, University of Michigan

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5 Signs You’re Not Ready to Own a Home, According to a CFP



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The housing market has boomed over the last year, despite a global pandemic and millions of Americans struggling to make ends meet. 

Many people are spending less on entertainment, clothing, travel, and other discretionary purchases during COVID. Federal student loan borrowers have seen temporary relief from their loan payments. These expenses will most likely rise again after the pandemic, and many people who committed to a new home with a large mortgage will struggle to keep up. 

I often speak with clients and prospective clients who want to buy a home before they have a strong financial foundation. Buying a home is not only one of the largest purchases you’ll make in your lifetime, but it’s also a huge commitment that’s extremely hard to undo if you have buyer’s remorse

It’s important to make a thoughtful, informed decision when it comes to a home purchase. Before you take the plunge into homeownership, check for these signs that you’re not quite ready to buy. 

1. You have credit card debt

Credit card debt can be a drain on your monthly budget, and when combined with student loans and a car loan, it can lead to high levels of stress. 

Generally, more debt means higher fixed expenses and little opportunity to save for long-term financial goals. Your financial situation will only get worse with the addition of a mortgage. I always recommend that clients be free of credit card or other high-interest debt before they consider buying a home. 

To rid yourself of credit card debt, take some time to get a good handle on your cash flow. Take an inventory of your spending over the last six to 12 months and see where you can cut back. From there, develop a realistic budget that includes aggressive payments to your credit cards. 

There are several strategies to help you knock out credit card debt fast. Regardless of the method you choose, stick with the plan and track your progress along the way. Once you pay off your credit cards, you can allocate your debt payments to savings, which can help you avoid this situation in the future.  

2. You have bad credit

Bad credit is not only a sign that you may not be ready to take on a mortgage, it can also signal a high risk to

mortgage lenders
. A high-risk status results in higher interest rates and more strict requirements to qualify for a loan. A mortgage is one of the largest loans you’ll take out in your lifetime, and if you get behind on payments, you could lose your home. 

Just as with credit card debt, bad credit could be a result of past financial mistakes. Dedicating the time to repair bad credit and improve your credit score will help you beyond purchasing your dream home. 

Start by pulling a recent credit report from each of the three credit bureaus so you can review it for errors. Dispute any errors, address past-due accounts, and bring your overall debt balances down. It’s helpful to learn what has a negative effect on your credit score so you can avoid these mistakes in the future. 

3. You don’t have an emergency fund (or an inadequate one)

If you’re unable to save for a rainy day, you probably don’t have enough money to buy a house. Owning a home is a big responsibility, and unexpected expenses pop up all the time. In addition, you could lose your job, have a medical emergency, or another unexpected expense unrelated to the home. Maintaining an emergency fund is a good sign that you have discipline and are prepared for the responsibility of homeownership.

Many financial experts recommend saving at least six months of living expenses in an emergency fund. If you have variable income, own a business, or own a house, you should save more. To build an emergency fund, set money aside from each paycheck and automate transfers to make the process easier. Give your emergency fund a boost when you receive lump sums such as bonuses or tax refunds. Start by saving one month of living expenses and build from there. 

4. You don’t have separate savings for your home

I always advise clients to set aside savings for a home in addition to an emergency fund. It’s a bad idea to start homeownership with no savings. Whether you have unexpected expenses related or unrelated to the home, having no emergency fund after a home purchase will lead to unnecessary stress — and possibly more debt. 

When purchasing a home, you’re responsible for a down payment and closing costs. While a 20% down payment is ideal to avoid private mortgage insurance, a down payment of at least 3.5% is typically required. Closing costs can range from 2 to 5% of the home’s value. 

Also, you will have moving costs, costs to spruce up your new place (like new furniture or light cosmetic updates), and any initial maintenance and repairs. Be sure to budget for these items to know how much to save on top of your emergency fund. It doesn’t hurt to boost your emergency fund, too, in preparation for homeownership. 

5. You have a low savings rate

It’s much easier to develop good savings habits before you have a lot of responsibilities. To get on track for financial independence, several studies show that you should save at least 15% of your income. The longer you wait, the more you’ll need to save. 

If your savings rate is low before you purchase a home, it will most likely worsen after becoming a homeowner. Even if your mortgage is similar to your rent, ongoing maintenance and repairs, higher utilities, and homeowners association fees can wreak havoc on your budget. 

Take a look at your current savings rate and see if you’re on track for financial independence. If you’re saving less than 15 to 20% of your income, work to improve your savings rate before you consider buying a home. A strong savings habit can help you build your home savings fund faster and ensure that a home purchase doesn’t impede your long-term financial goals. Finally, understand how much house you can afford so you can avoid being house poor. 

Buying a home can be rewarding, and when done the right way, it’s a way to build wealth. Before you decide to buy a home, it’s important to understand your numbers and ensure that you’re ready for the commitment. Without preparation, your dream home could be detrimental to your long-term financial goals.

Chloe A. Moore, CFP, is the founder of Financial Staples, a virtual, fee-only financial planning firm based in Atlanta, Georgia and serving clients nationwide.

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