Why You Should Consider A Sim Only Contract + Top Deals This Month


As the cost of the latest mobile phones increases exponentially (see the whopping price of the new iPhone!) more and more mobile users are switching to SIM only contracts at the end of their current deal. Previously mobile users would look to upgrade their handsets every 12 or 18 months as new exciting handsets with incredible new features were released on a regular basis. As the pace of technological development has decreased (is the iPhone 8 really much better than the iPhone 7? or the Samsung S8 vs the S7?) we are seeing mobile users hang onto their phones for longer and this is driving demand for SIM only deals.

In addition, we have seen an increase in customers being refused a contract with a new handset because of failed credit checks. This is only going to get worse as the cost of new handsets increases. Only those with the very best credit scores will be getting a free iPhone X anytime soon!

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What Is SIM Only?

As the name suggests, SIM only deals involve the mobile network providing you with a SIM. You need to provide your own phone or buy one from them. You then pay for the minutes, texts and data you want, either on a pay as you go basis or via a monthly contract.

Pay Monthly

  • You undergo a credit check
  • If approved you pay monthly for a contract
  • 12 or 24-month contracts are available
  • Dozens of different packages will be available with different amounts of free minutes, texts and data

Pay As You Go

  • No credit check required
  • No contract
  • You “top up” your cash balance on the phone when required
  • You pay for the minutes, texts and data you use as you use them
  • There is no fixed term

Benefits of SIM only

  • They are much much cheaper!
  • Easier to pass a credit check
  • Sometimes no credit check at all!
  • You keep your current phone
  • Pay As You Go means you have no commitment
  • Monthly contracts tie you in for as little as 1 month

One of the things that frustrates us most here at TheMoneyDaily.com is when people come to the end of their 12 or 24-month phone contract (a contract that included a free phone) and don’t renegotiate or switch to a SIM only contract. The cost of the “free” phone is tied into the monthly payments which means when the contract comes to an end the phone is paid for and you no longer need to pay the same amount each month. It’s estimated that £355m a year is wasted in the UK as a result of mobile phone users not switching to SIM only or renegotiating their contract at the end of the initial period.

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Disclaimer: TheMoneyDaily’s service is not intended to be, nor should it be construed as financial advice. We help our readers make informed decisions and can introduce you to comparison services and provide impartial information and guides. Where appropriate, we may introduce FCA authorised partners who can provide services relating to financial products.

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