If my credit is denied!!

[nkkumi01]

Can I still get service regardless if my credit gets denied?? Some people mentioned a security deposit. How much is the average security deposit??

[darwen]

I believe it is $750. That is just what I read on here though.

[janey]

Can I still get service regardless if my credit gets denied?? Some people mentioned a security deposit. How much is the average security deposit??

it's not that it's denied, and the deposit depends on how nonexistant or awful your credit is, among other factors.

[pr5owner]

Can I still get service regardless if my credit gets denied?? Some people mentioned a security deposit. How much is the average security deposit??

wow if your credit is denied, you camped out for nothing!

j/k do you know for sure if they do a credit check? i heard apple stores will make you activate it over itunes from home.

[nkkumi01]

I believe it is $750. That is just what I read on here though.

Seriously, I have to pay 750 dollars for the privilege to purchase a 600 dollar phone and a 2 yr contract for 80/month. I might have fair credit but I have paid my previous cell phone bill (Tmobile) on time, with only 4 late payments in 3 and a half years. Hopefully if anything it doesn't exceed 250!!!

[darwen]

Seriously, I have to pay 750 dollars for the privilege to purchase a 600 dollar phone and a 2 yr contract for 80/month. I might have fair credit but I have paid my previous cell phone bill (Tmobile) on time, with only 4 late payments in 3 and a half years. Hopefully if anything it doesn't exceed 250!!!

No, it would be for the privliage to use AT&Ts great services... ;)

[zflauaus]

I'm not sure if this is possible, but can you go up to an AT&T store before the release and see if you need to put down a deposit? I don't know if that's possible though.

[Antaios]

ur friendly neighborhood at&t rep here...
credit checks that require a deposits usually range from $150.00 to $750.00.
I've seen 150, 500, 750 and only once 800.

[/dev/toaster]

Seriously, I have to pay 750 dollars for the privilege to purchase a 600 dollar phone and a 2 yr contract for 80/month. I might have fair credit but I have paid my previous cell phone bill (Tmobile) on time, with only 4 late payments in 3 and a half years. Hopefully if anything it doesn't exceed 250!!!

I have to drop down $750 on Friday for a deposit. I have bad credit.

Paying your bills on time with other cell providers means nothing. You don't get credit for that. It also doesn't mean squat on your credit for utility bills and what not.

All cell providers require good credit or have high deposit requirements, thats just how it is.

Personally, I think it should be law that companies who can or do report bad credit should be required to report good credit.

[Teh Don Ditty]

Seriously, I have to pay 750 dollars for the privilege to purchase a 600 dollar phone and a 2 yr contract for 80/month. I might have fair credit but I have paid my previous cell phone bill (Tmobile) on time, with only 4 late payments in 3 and a half years. Hopefully if anything it doesn't exceed 250!!!

If you had to pay $750 for the "privilege" to purchase a $600 phone I'd say you're out of your damn mind. I'll tell ya what, how about slap ya across the face and I take your $750 and we'll call it a day?

No phone is worth that much! (750 + 600 + 80/mo (960 over the year) +36 activation)

Good luck trying to get the iPhone. Hope your credit gets approved!

Personally, I think it should be law that companies who can or do report bad credit should be required to report good credit.

They do. It's noted as "pays on time"

[asherman13]

My AT&T rep said $500, and you get it back after a year of paying your bills on time.

EDIT You can go into a store today and ask what your deposit will be if you need one, be sure to bring your Social Security number and your driver's license. Also, you can get a "pre-approved credit" number from your local AT&T store if you're worried about it; you enter that number during the iTunes activation process.

[nkkumi01]

Ok so what if I was to take over a friends cingular account meaning transferring responsibility completly over to me, do they do a credit check as well??

[Teh Don Ditty]

Ok so what if I was to take over a friends cingular account meaning transferring responsibility completly over to me, do they do a credit check as well??

Are you on the account?

I'm guessing you're not. Then, yes they'll still do a credit check.

The only time you can get away with it is when you're already on an account (say you're on under your parents name), you turn 18 and your 'rents sign a paper saying that this will now be your account. That's how it worked for me back in the day with Verizon.

[Antaios]

Ok so what if I was to take over a friends cingular account meaning transferring responsibility completly over to me, do they do a credit check as well??

oh yes... that is a standard practice now.

[nkkumi01]

Are you on the account?

I'm guessing you're not. Then, yes they'll still do a credit check.

The only time you can get away with it is when you're already on an account (say on under your parents name), you turn 18 and your 'rents sign a paper saying that this will now be your account. That's how it worked for me back in the day with Verizon.

Oh so if lets say my brother who owns a cingular account decides to add a new line for me, I don't need to do a credit check?? I'm I understanding this correctly?

[Teh Don Ditty]

Oh so if lets say my brother who owns a cingular account decides to add a new line for me, I don't need to do a credit check?? I'm I understanding this correctly?

Correct, because your brother is the owner of the account. He doesn't have to give much detail on who uses the additional line.

But, I don't know if you can do that with the iPhone.

[nkkumi01]

Correct, because your brother is the owner of the account. He doesn't have to give much detail on who uses the additional line.

But, I don't know if you can do that with the iPhone.

what why??? My head hurts this is complicating lol!!

[GeekLawyer]

You can call AT&T Wireless and speak to customer service ahead of time. They will run your credit for you and let you know if you're in good shape. If you're in good shape, they will give you a BAN number that you will put into iTunes as you're activating your phone.

I called today and got this taken care of.

[gauchogolfer]

what why??? My head hurts this is complicating lol!!

You can add a new line to a family plan and get an iPhone. As long as the person whose name is on the bill doesn't change, then no security deposit ought to be required.

[MacbookSwitcher]

If your credit is denied, you have no business buying a $500/$600 phone! This is an example of the system working correctly

[/dev/toaster]

If you had to pay $750 for the "privilege" to purchase a $600 phone I'd say you're out of your damn mind. I'll tell ya what, how about slap ya across the face and I take your $750 and we'll call it a day?

No phone is worth that much! (750 + 600 + 80/mo (960 over the year) +36 activation)

Good luck trying to get the iPhone. Hope your credit gets approved!



They do. It's noted as "pays on time"

Interesting. Well, I just went through my credit report again and I fail to see "pays on time" noted any where next to a cell phone company or utility company. Oh wait, I see why ... the company isn't listed at all.

I have paid my cell bill on time for the past 6+ years that I have had a cell phone. When I left T-Mobile I even called to reques they send a good credit raiting out about my time as a customer. They simply said "Sorry, we don't do that".

[Antaios]

You can call AT&T Wireless and speak to customer service ahead of time. They will run your credit for you and let you know if you're in good shape. If you're in good shape, they will give you a BAN number that you will put into iTunes as you're activating your phone.

I called today and got this taken care of.

BAN number?? That's internal at&t jargon.... how do you know that GeekLawyer??

[nkkumi01]

If your credit is denied, you have no business buying a $500/$600 phone! This is an example of the system working correctly

Shame on me, because I thought, my money was worth the same amount as yours. I'm sorry that I'm young and have not yet built credit. People like me shouldn't be allow to buy the iphone. I'm gonna leave now. :o

[gauchogolfer]

BAN number?? That's internal at&t jargon.... how do you know that GeekLawyer??

Probably because it's prominently featured in the how-to video on Apple's website. ;)

[Antaios]

Interesting. Well, I just went through my credit report again and I fail to see "pays on time" noted any where next to a cell phone company or utility company. Oh wait, I see why ... the company isn't listed at all.

I have paid my cell bill on time for the past 6+ years that I have had a cell phone. When I left T-Mobile I even called to reques they send a good credit raiting out about my time as a customer. They simply said "Sorry, we don't do that".

nope. at&t doesn't either.... we only report to credit agencies if you fail to pay...

[technicolor]

You can call AT&T Wireless and speak to customer service ahead of time. They will run your credit for you and let you know if you're in good shape. If you're in good shape, they will give you a BAN number that you will put into iTunes as you're activating your phone.

I called today and got this taken care of. So you can infact do this over the phone and not going into a store?

I just want to be sure

[quentinr]

I called AT&T this morning and as long as you are eligible for an upgrade as a current customer, you should have no problems getting an iphone. No credit check will be needed.

[Abraxsis]

Decided I would sum up this credit thing properly. Ive been running the channels so to speak for about a month now ensuring that my credit is as squeaky clean as I thought it was. So here is how it goes ...

A "line of credit" (aka "revolving debt") (ie.credit cards, home loan, car loan, boat loan, student loans, etc.) is what is reported to a credit agency and shows up when you have your credit pulled. Each loan/lien holder that you've had for several years (7-10 usually) shows up. It show how much the debt was for (or in the case of credit cards your total credit limit), how long it has been open, and then it either says "In Good Standing" "Pays as Agreed" "Closed" "Out of Payment" etc. This is also where the delinquent payment history shows up. Most places will let you get by with the occasional late payment, it happens to nearly everyone eventually. But tech. speaking once you're 30 days late, they have the right to report you. Once you hit 90 you usually fall from their good graces and they put the dreaded "Late 90+" on your credit. One of these generally doesn't hit you too bad, but you get a second and it is the kiss of death.

"Reoccurring service charges" (ie. cell phone, home phone, etc.) are NOT reported to the credit agency. However, once you become delinquent on the payments they have every right to report you.

Lastly, if you are working to buy a house, car, etc. Anything that requires a large loan, you may want to hold off for the time being. Some cell phone companies do what is called a "hard pull" (aka hard check, depending on your location in the country) on your credit. This is the same hard pull that occurs when you are applying for a home loan, car loan, etc. Hard pull/check(s) hit your FICO score (aka "credit score") for roughly 5 points. 5 points might not seem like alot, but if you're riding close to a transition area in the FICO scale, 5 points can mean an entire 1% interest difference for a car, and up to .25% for a house. Thats a big difference in the long haul.

(Yes there is a soft check ... all those loan consolidation offers, credit card offers, etc etc come from soft checks. Soft checks do not impact your credit seeing as they only check to see that HAVE credit, not that it is good/bad.)

And as a matter of opinion, I agree with the person who said if you have a 500.00 deposit, you probably shouldn't be going after a 600.00 phone. Get a regular phone, and get a small loan for something and use the 80 bucks a month to pay it off and fix your credit.

[feelthefire]

I have paid my previous cell phone bill (Tmobile) on time, with only 4 late payments in 3 and a half years. Hopefully if anything it doesn't exceed 250!!!

4 late payments? That's 3 too many in the credit world. You can usually get one forgiven, but 4? If T Mobile didn't report you, then you're probably ok, but if those late payments were on a credit card, I'd have your credit run ahead of time.

The deposit for someone with no credit is $500, the deposit for someone with fair credit is $150-$250, and with BAD credit $750.

AT&T does hard pulls on credit checks. Most cell phone companies do.

However, giving even $250 to AT&T interest free for a year if you have bad credit is a bad idea. Put that money in a high yield account and make 1% interest on it for a year. A much better plan on the whole. Making that kind of an investment in of all things depreciating technology- well, no financial advisor would tell you that's a good choice.

[themanfromvlad]

If you can't pass a credit check, it's a good sign that you should have bigger priorities than getting an iPhone.

[wongulous]

I have to drop down $750 on Friday for a deposit. I have bad credit.

Paying your bills on time with other cell providers means nothing. You don't get credit for that. It also doesn't mean squat on your credit for utility bills and what not.

All cell providers require good credit or have high deposit requirements, thats just how it is.

Personally, I think it should be law that companies who can or do report bad credit should be required to report good credit.

Amen, brother. Just because I didn't pay my Dillard's card on time doesn't mean I would let my wireless phone go late and be shut off. :rolleyes:

But thankfully my partner has good credit and we'll probably get it under his name as I fix my credit... yay debt management...

[berkleeboy210]

I'm 21, my credit is below average. and I went for a credit check at an ATT store yesterday, and i DONT have to put down a deposit :)

have hope.

[whateverandever]

Hmmm, I really didn't have a problem getting a Sprint line at all. They put me on the budgeted spending program (where you max out at $200/month) but no deposit or anything. I was only 21 at the time and didn't have much credit.

[nkkumi01]

I'm glad i'm not the only college student getting whammed in the head by these high rollers with "Great Credit" Although you could have said it nicer though :D

P.S. Seriously this post has taken been taken off the dirt path, I was merely asking what are my options if i get denied, I appreciate everyone that has given me very helpful answers. I am going to the cingul......uhhh att store to get a credit check today, I'll you know how it goes. :)

[hcopp]

Thank you, I'm glad i'm not the only college student getting whammed in the head by these high rollers with "Great Credit" Although you could have said it nicer though :D

P.S. Seriously this post has taken been taken off the dirt path, I was merely asking what are my options if i get denied, I appreciate everyone that has given me very helpful answers. I am going to the cingul......uhhh att store to get a credit check today, I'll you know how it goes. :)


but yeah man, best of luck, fortunately I am on a family plan already with ATT, so alls i gotta do is buy the phone.

[/dev/toaster]

nope. at&t doesn't either.... we only report to credit agencies if you fail to pay...

Yes, like I said ... I think it should be law that if you are able to report bad credit, you must also report good credit rating.

[Mpulsive81]

While I agree with you that people shouldn't be so judgemental and impose their thoughts of responsibility on others, I can see how they're trying to be helpful and help someone else not make the same mistakes they may have when they were younger. Priorities change as people get older. But I don't think this post was a step in the right direction to be taken seriously...

In the end, it's a telephone. End of story. (ok yes it's a phone, it's a mp3 player, it's a browser...blah blah, i've seen the commercial lol) But why get so worked up over it in the first place? I do I think it's a cool phone? Definitely. And yeah i'd want one, but i'm not in the position to get one right now. If you can afford it and want it, get it. Why do you have to justify or have support on your decision to get a phone on a message board in the first place? No one here pays your bills so if someone doesn't like your decision, why does it matter? Some people want to spend $600, drop $750 for a deposit, and camp out all night for a telephone. Some people think it's a great idea but choose to spend their money elsewhere. We all have different priorities and there are people on both ends that need to realize that (yes including you.)

[marksman]

If you had to pay $750 for the "privilege" to purchase a $600 phone I'd say you're out of your damn mind. I'll tell ya what, how about slap ya across the face and I take your $750 and we'll call it a day?

No phone is worth that much! (750 + 600 + 80/mo (960 over the year) +36 activation)

Good luck trying to get the iPhone. Hope your credit gets approved!



They do. It's noted as "pays on time"

You do understand what a deposit is right?

It does not go towards the cost of the phone or the service. They simply hold it, in this case for 12 months if you pay your bills on time every month.

You are not actually paying more for the phone and service.

[jeremy.king]

So here it is....calm down. It's a phone. Congrats on graduating college. Now act like an adult. Getting fired up and shwoing your butt (cussing) on a family oriented message board because someone doesn't see your point of view isn't going to help anyone take you seriously. It's not only immature, it's uncalled for.

This site is family oriented? :)

I totally agree with you.

People with "bad" credit (low scores) have it for two reasons.

1) No credit history
2) They have demonstrated that they cannot responsibly manage their credit obligations (either high debt to income, past late payments, too much available credit, etc)

You have to prove you can be trusted with a monthly obligation, not that you can afford it - it really is that simple. Having bad credit doesn't make you a bad person - it simply means you have a higher risk of not paying your bills because of reasons above.

If your score comes in low, pay the deposit, pay your bill on time, and enjoy the deposit being returned to you at a later time. Not only do you get your money back, but you actually helped your own "bad" credit by making on time payments - a win win for you. No real reason to get your panties in a bundle.

Everyone should learn how credit systems work, it would save a lot of heart ache and emotion. Some argue that this should be taught in high schools. I had to learn the hard way too like almost every college student out there. Don't get me started on predatory credit offers and bait-and-switch credit cards.

A great site to learn more is Motley Fool (http://www.fool.com/ccc/ccc.htm?source=PFinAg).

[Eric Lewis]

ok..just rob a bank..and bring in a h*ll of alot of cash!

warning: you may end up in jail!

[hcopp]

While I agree with you that people shouldn't be so judgemental and impose their thoughts of responsibility on others, I can see how they're trying to be helpful and help someone else not make the same mistakes they may have when they were younger. Priorities change as people get older. But I don't think this post was a step in the right direction to be taken seriously...

In the end, it's a telephone. End of story. (ok yes it's a phone, it's a mp3 player, it's a browser...blah blah, i've seen the commercial lol) But why get so worked up over it in the first place? I do I think it's a cool phone? Definitely. And yeah i'd want one, but i'm not in the position to get one right now. If you can afford it and want it, get it. Why do you have to justify or have support on your decision to get a phone on a message board in the first place? No one here pays your bills so if someone doesn't like your decision, why does it matter? Some people want to spend $600, drop $750 for a deposit, and camp out all night for a telephone. Some people think it's a great idea but choose to spend their money elsewhere. We all have different priorities and there are people on both ends that need to realize that (yes including you.)

So here it is....calm down. It's a phone. Congrats on graduating college. Now act like an adult. Getting fired up and showing your butt (cussing) on a family oriented message board because someone doesn't see your point of view isn't going to help anyone take you seriously. It's not only immature, it's uncalled for.

i don't think you get it, you and I are on the same page. It is your money, it is my money, its its person X's money. Thats all that matters, don't tell people what to do, or what they SHOULD do, its simple as that, that was the point i was trying to make.

and my deepest apologies, i swear a lot. especially in the face of ignorance.

[anubis]

I've got loans and credit cards coming out of my ass... BUT I've never been late on a payment, no judgements/bankrupties/public records/garnishments... and I went in and got preapproved with no deposit. Seriously, if I can get preapproved with no deposit, anyone should be able to.

[JoJoCal19]

I got approved with a $100 deposit, which is probably due to the high balances on two cards I have dragged my scores down a little. Its not really a big deal, Im buying the iPhone and will pay off those two cards next month as well.

[Antaios]

just found out if you come back with a deposit required, you can use the iphone on a go phone...

[iPhone70115]

Ok, so what entitles "good credit" in the eyes of att? I have a credit score...and I'm thinkinggg of a number..Do you know what it is?

Just kidding, but seriously is there a threshold on when the deposit kicks in?

Let's see if we can figure out using our own experiences what scores were approved (ballpark) and which will need deposits.

[earnjam]

are you asking people to post their credit scores on here?

good luck.

[jeremy.king]

are you asking people to post their credit scores on here?

good luck.

and what kind of score are we using as the basis? FICO, Vantage, or others?

[nkkumi01]

Well went to the att store today to get a credit check and It turns up I have to pay 1500 Dollar deposit on top of the iphone, phew that is a relief. Plus your actually paying that amount, your merely using it as collateral. I should have it back by sometime next year, when I have completely forgotten about it :)

[jeremy.king]

Well went to the att store today to get a credit check and It turns up I have to pay 1500 Dollar deposit on top of the iphone, phew that is a relief. Plus your actually paying that amount, your merely using it as collateral. I should have it back by sometime next year, when I have completely forgotten about it :)

Are you being serious or fanning the flames?

[kingtj]

I have to say you're not quite accurate here. Your "two reasons" should at least be amended to 3.

The third reason? A married person being penalized for the poor spending habits of their partner. The credit card companies are ALL too happy to hand out new lines of credit to one's marriage partner, without even informing them they've done so. Someone's husband or wife can then run around, maxing out new lines of credit - and they'll be none the wiser until all the overdue notices arrive in the mail (assuming the partner isn't intercepting the mail and hiding/destroying those first!). I've seen this story play out MANY times, and it takes YEARS after a divorce is finalized to repair the damage.



This site is family oriented? :)

I totally agree with you.

People with "bad" credit (low scores) have it for two reasons.

1) No credit history
2) They have demonstrated that they cannot responsibly manage their credit obligations (either high debt to income, past late payments, too much available credit, etc)

You have to prove you can be trusted with a monthly obligation, not that you can afford it - it really is that simple. Having bad credit doesn't make you a bad person - it simply means you have a higher risk of not paying your bills because of reasons above.

If your score comes in low, pay the deposit, pay your bill on time, and enjoy the deposit being returned to you at a later time. Not only do you get your money back, but you actually helped your own "bad" credit by making on time payments - a win win for you. No real reason to get your panties in a bundle.

Everyone should learn how credit systems work, it would save a lot of heart ache and emotion. Some argue that this should be taught in high schools. I had to learn the hard way too like almost every college student out there. Don't get me started on predatory credit offers and bait-and-switch credit cards.

A great site to learn more is Motley Fool (http://www.fool.com/ccc/ccc.htm?source=PFinAg).

[feelthefire]

All I can say is that $1500 deposit better be for 2 iPhones, otherwise your credit is so bad you shouldn't even be considering taking on ANY monthly bills outside of your debt.

There are many ways to ruin your credit and comparatively few to restore it.

[ibookin']

A "line of credit" (aka "revolving debt") (ie.credit cards, home loan, car loan, boat loan, student loans, etc.) is what is reported to a credit agency and shows up when you have your credit pulled. Each loan/lien holder that you've had for several years (7-10 usually) shows up. It show how much the debt was for (or in the case of credit cards your total credit limit), how long it has been open, and then it either says "In Good Standing" "Pays as Agreed" "Closed" "Out of Payment" etc. This is also where the delinquent payment history shows up. Most places will let you get by with the occasional late payment, it happens to nearly everyone eventually. But tech. speaking once you're 30 days late, they have the right to report you. Once you hit 90 you usually fall from their good graces and they put the dreaded "Late 90+" on your credit. One of these generally doesn't hit you too bad, but you get a second and it is the kiss of death.

"Reoccurring service charges" (ie. cell phone, home phone, etc.) are NOT reported to the credit agency. However, once you become delinquent on the payments they have every right to report you.

Lastly, if you are working to buy a house, car, etc. Anything that requires a large loan, you may want to hold off for the time being. Some cell phone companies do what is called a "hard pull" (aka hard check, depending on your location in the country) on your credit. This is the same hard pull that occurs when you are applying for a home loan, car loan, etc. Hard pull/check(s) hit your FICO score (aka "credit score") for roughly 5 points. 5 points might not seem like alot, but if you're riding close to a transition area in the FICO scale, 5 points can mean an entire 1% interest difference for a car, and up to .25% for a house. Thats a big difference in the long haul.

(Yes there is a soft check ... all those loan consolidation offers, credit card offers, etc etc come from soft checks. Soft checks do not impact your credit seeing as they only check to see that HAVE credit, not that it is good/bad.)

And as a matter of opinion, I agree with the person who said if you have a 500.00 deposit, you probably shouldn't be going after a 600.00 phone. Get a regular phone, and get a small loan for something and use the 80 bucks a month to pay it off and fix your credit.

Hey, wow, my account still works. Thought I'd take the time to respond about something I know about and possibly help some people who aren't entirely confident in their credit rating.

Anyway, the post I quoted is largely correct. However, there are a couple inaccuracies.

Inquiries DO NOT hit your score for 5 points. There are many, many factors in the FICO algorithm that determine what effect different items will have on your score, and no one really knows exactly how it works. In my experience, I've never really been hit that hard for inquiries. I used to have 12 INQs in the past year on my Experian report, and my score was not 60 points lower than my Equifax report, which had 0. Also, a mortgage or auto lender will most likely not care about an inquiry from AT&T. 15 credit card inquiries, yes, a cell phone inquiry, no.

The other thing is that late payments do hit you quite hard, especially 60+ days late. Again, exactly how hard depends on many factors. I can't speak from experience on this, but from what I hear one 30 day late can push someone with a >700 score down into the mid 600s.

As far as getting approved for a phone goes, you don't have to have "good" credit to get a cell phone with no deposit. I frequent a credit forum, and there are people there with lates, collections, bankruptcy, etc. and sub-600 scores that get approved for AT&T with no deposit. Also for those who want to know, AT&T pulls Equifax.

Hope this was helpful.

[nkkumi01]

All I can say is that $1500 deposit better be for 2 iPhones, otherwise your credit is so bad you shouldn't even be considering taking on ANY monthly bills outside of your debt.

There are many ways to ruin your credit and comparatively few to restore it.

lol whoops one to many zeros. 150 deposit, sorry bout that :D

[jeremy.king]

I have to say you're not quite accurate here. Your "two reasons" should at least be amended to 3.

The third reason? A married person being penalized for the poor spending habits of their partner. The credit card companies are ALL too happy to hand out new lines of credit to one's marriage partner, without even informing them they've done so. Someone's husband or wife can then run around, maxing out new lines of credit - and they'll be none the wiser until all the overdue notices arrive in the mail (assuming the partner isn't intercepting the mail and hiding/destroying those first!). I've seen this story play out MANY times, and it takes YEARS after a divorce is finalized to repair the damage.

I would argue your scenario falls into number two. Managing your credit lines also includes managing who has access to them. Sadly, identity theft would yield the same result.

Also, in WI - your scenario couldn't happen because of their marital property laws. If your spouse tries to open a credit account, the spouse has to be notified (i.e. no surprises!). Too bad I moved to IL :(

[Mpulsive81]

I would argue your scenario falls into number two.

So lets rephrase it...it can be reworded to say

2. "They have demonstrated that they cannot responsibly manage their spouse and/or their credit obligations."

:p just trying to lighten up the mood of the thread!

[powerbook911]

Does a "hard" inquiry show up on your credit report, when getting a phone activated? These hard inquiries, if you have a bunch in a 2 year period, hurt your credit score.

Thanks.

[Abraxsis]

Hey, wow, my account still works. Thought I'd take the time to respond about something I know about and possibly help some people who aren't entirely confident in their credit rating.

Anyway, the post I quoted is largely correct. However, there are a couple inaccuracies.

Inquiries DO NOT hit your score for 5 points. There are many, many factors in the FICO algorithm that determine what effect different items will have on your score, and no one really knows exactly how it works. In my experience, I've never really been hit that hard for inquiries. I used to have 12 INQs in the past year on my Experian report, and my score was not 60 points lower than my Equifax report, which had 0. Also, a mortgage or auto lender will most likely not care about an inquiry from AT&T. 15 credit card inquiries, yes, a cell phone inquiry, no.

The other thing is that late payments do hit you quite hard, especially 60+ days late. Again, exactly how hard depends on many factors. I can't speak from experience on this, but from what I hear one 30 day late can push someone with a >700 score down into the mid 600s.

As far as getting approved for a phone goes, you don't have to have "good" credit to get a cell phone with no deposit. I frequent a credit forum, and there are people there with lates, collections, bankruptcy, etc. and sub-600 scores that get approved for AT&T with no deposit. Also for those who want to know, AT&T pulls Equifax.

Hope this was helpful.

Actually it depends on the type of inquiry and loan amount. I quoted the 5 points from a house (which is why i am pouring over my report) which is naturally a large loan. You are correct that the actual hit can be different depending on the amount of funding you are seeking. The ~5 point hit is what any mortage broker will tell you, this is why they highly recommend you try 3 or 4 different funding sources within a 3 week period so it only "pulls" once. As for 12 Inq. a year ... if those were hard checks it would have hit your credit hard ... Dad is a banker and he said if they seen 12 hard checks on your record in a year they would scrutinize your report 10x more than normal no matter the amount of funding you were looking for.

[Hmac]

I have to drop down $750 on Friday for a deposit. I have bad credit.

Paying your bills on time with other cell providers means nothing. You don't get credit for that. It also doesn't mean squat on your credit for utility bills and what not.

All cell providers require good credit or have high deposit requirements, thats just how it is.

Personally, I think it should be law that companies who can or do report bad credit should be required to report good credit.


The guy missed 4 payments. That's gonna hurt.

As to reporting good credit...ALL credit is reported, and usually summed up into one score. They submit your name and SSN, and that credit score pops up. If you miss 4 payments, that's gonna show up.

See, the deal is that you don't get patted on the back for "only" four late payments. You get penalized because most of the people miss none.

[ibookin']

Dad is a banker and he said if they seen 12 hard checks on your record in a year they would scrutinize your report 10x more than normal no matter the amount of funding you were looking for.

I don't doubt that 12 inquiries might hurt you in getting a mortgage, but for credit cards/auto loans/cell phones, it's not that big of a deal. I've had no problem getting credit cards from major banks with the 12 inquiries (yes, they are hard inquiries), and I still have a >700 FICO score last time I checked.

Anyway, the point of my previous post was to indicate that as long as your FICO is >600 and you don't have any serious delinquencies, you shouldn't have a problem getting AT&T service with no deposit, so don't worry about it unless you've got serious credit problems.

[technicolor]

Here is a post in regards to Cingular score numbers

http://creditboards.com/forums/index.php?showtopic=261453&hl=cingular


They almost exclusively pull Equifax.

[retrospects]

let me put it politely if you have bad credit or no credit you dont need an iphone. why because you need to get your priorities straight!

[janey]

let me put it politely if you have bad credit or no credit you dont need an iphone. why because you need to get your priorities straight!

thank you for being so inflexible to all the circumstances that may cause someone to have little to no or bad credit but still be able to afford an iPhone and to pay for an expensive monthly plan and maybe an expensive deposit as well.

people have mentioned this before only to get flamed. it didn't need to be repeated for the 10 gazillionth time.

I suggest you say that to the faces of half my friends who could afford to buy their sidekicks (not the cheap ones either) and have $100/mo plans but little credit, only because they haven't yet had the mere TIME to build good credit.

It is truly none of your business what these people do and it is not your place to judge them or what they want to do because of circumstances I'm sure you can't even begin to think about.

[technicolor]

let me put it politely if you have bad credit or no credit you dont need an iphone. why because you need to get your priorities straight!
This is a very myopic stance. If one is young and hasnt had time to build credit doesnt mean they cant afford iphone. It takes months to a few years to build stellar credit. Even in the process of doing so, one could still be able to afford the iPhone.

[joelk]

so can someone clarify whether at&t stores are definitely doing the credit check before you walk out the door or do they allow you the option of doing it at home via iTunes as the demos show?

i'm not particularly concerned but just don't want to deal with the unlikely but potential embarrassment.

thnx

[technicolor]

so can someone clarify whether at&t stores are definitely doing the credit check before you walk out the door or do they allow you the option of doing it at home via iTunes as the demos show?

i'm not particularly concerned but just don't want to deal with the unlikely but potential embarrassment.

thnxyou can do it at home. going into the store to buy the phone is just going to buy the equipment.

i literally just got off the phone with at&t and i was approved with no deposit and got my ban number.

as a matter of fact im listening to the terms and conditions while i type this.

so if you want to know before you even buy your phone you can call
1-888-333-6651

or you can wait and buy it and find out in the comfort of your home if you are worried about embarrassment.

hth :D

[joelk]

you can do it at home. going into the store to buy the phone is just going to buy the equipment.

i literally just got off the phone with at&t and i was approved with no deposit and got my ban number.

as a matter of fact im listening to the terms and conditions while i type this.

so if you want to know before you even buy your phone you can call
1-888-333-6651

or you can wait and buy it and find out in the comfort of your home if you are worried about embarrassment.

hth :D

perfect. thanks for the reply. i'm sure i'll be fine but i'd prefer to do it at home.

[retrospects]

thank you for being so inflexible to all the circumstances that may cause someone to have little to no or bad credit but still be able to afford an iPhone and to pay for an expensive monthly plan and maybe an expensive deposit as well.

people have mentioned this before only to get flamed. it didn't need to be repeated for the 10 gazillionth time.

I suggest you say that to the faces of half my friends who could afford to buy their sidekicks (not the cheap ones either) and have $100/mo plans but little credit, only because they haven't yet had the mere TIME to build good credit.

It is truly none of your business what these people do and it is not your place to judge them or what they want to do because of circumstances I'm sure you can't even begin to think about.

i still stand by what i think, and i am young i will be 21 friday. also i have very good credit(no deposit) honestly if you have no credit or bad credit you need to save that money and build a credit history. you do understand that if you worried about having a 750 dollar deposit you will be spending over 1000 dollars just to get a phone......i dunna it just dose not make sense to me. i dont want it THAT bad.

[retrospects]

This is a very myopic stance. If one is young and hasnt had time to build credit doesnt mean they cant afford iphone. It takes months to a few years to build stellar credit. Even in the process of doing so, one could still be able to afford the iPhone.

i dont care honestly, if you can afford it and you are willing to blow 1000 bucks on a phone. be my guest. all i know is that i have worked hard to build over the past few years to build credit and im only 20. so again its a matter of priorities.

[technicolor]

i dont care honestly, if you can afford it and you are willing to blow 1000 bucks on a phone. be my guest. all i know is that i have worked hard to build over the past few years to build credit and im only 20. so again its a matter of priorities.

Most 20 years old dont have stellar credit. Hopefully you dont go thru any tragic events that will send your credit into the toilet within a matter of months.

[retrospects]

Most 20 years old dont have stellar credit. Hopefully you dont go thru any tragic events that will send your credit into the toilet within a matter of months.

its the fact that these kids are willing to spend 750 bucks just to have the privilege to buy a 600 dollar phone. i would be willing to bet the majority of the people that want/are getting this phone are kids under the age of 18. if you can afford it, go for it but its the people that cant that i was talking about. as for the whole credit spiraling into oblivion, unlikely.

[janey]

i still stand by what i think, and i am young i will be 21 friday. also i have very good credit(no deposit) honestly if you have no credit or bad credit you need to save that money and build a credit history. you do understand that if you worried about having a 750 dollar deposit you will be spending over 1000 dollars just to get a phone......i dunna it just dose not make sense to me. i dont want it THAT bad.
Okay, so you're relatively young and you have good credit, want a cookie or a gold star sticker?

If someone really wants an iPhone and can afford to pay for the phone, the plan and any deposit that will be returned to them after a year of being on time with payments, again it's none of your business. They may already probably be building their credit through other ways, and if they have enough money to afford an iPhone on top of that, great for them. Not everyone is some reckless teenager or 20something with massive student loans and credit card debt who shouldn't be getting an iPhone. It's not your place to paint everyone with the same brush.

I'm way younger than you, and I have good credit, no deposit involved regardless of whether I choose to go the non-family-plan-in-my-mom's-name route or not, I can afford to buy an iPhone, I can afford to pay for the plan...but I have college-bound friends wanting an iPhone but that have no credit even though we're all similar in age, but will get one anyway because they can afford to, whether or not their parents pay for it, deposit be damned.

Do I detect a hint of jealousy or what? The people with bad credit that your advice would be great for would have to be ****ing nuts to go for an iPhone on top of the deposit on top of the expensive plans. So it was really redundant to say so, which brings up the question of who you were directing that at...which would seem to be the group of people here who don't necessarily have good credit for various reasons, I state for the second time, that you probably can't even begin to imagine.

[retrospects]

Okay, so you're relatively young and you have good credit, want a cookie or a gold star sticker?

If someone really wants an iPhone and can afford to pay for the phone, the plan and any deposit that will be returned to them after a year of being on time with payments, again it's none of your business. They may already probably be building their credit through other ways, and if they have enough money to afford an iPhone on top of that, great for them. Not everyone is some reckless teenager or 20something with massive student loans and credit card debt who shouldn't be getting an iPhone. It's not your place to paint everyone with the same brush.

I'm way younger than you, and I have good credit, no deposit involved regardless of whether I choose to go the non-family-plan-in-my-mom's-name route or not, I can afford to buy an iPhone, I can afford to pay for the plan...but I have college-bound friends wanting an iPhone but that have no credit even though we're all similar in age, but will get one anyway because they can afford to, whether or not their parents pay for it, deposit be damned.

Do I detect a hint of jealousy or what? The people with bad credit that your advice would be great for would have to be ****ing nuts to go for an iPhone on top of the deposit on top of the expensive plans. So it was really redundant to say so, which brings up the question of who you were directing that at...which would seem to be the group of people here who don't necessarily have good credit for various reasons, I state for the second time, that you probably can't even begin to imagine.

jealous of what? im getting the phone. i understand that some people have had misfortunes and credit is already confusing to begin with. if you have the money to spend and its your choice, go for it. it would not be my choice but im not you and vice versa. im not directing it at anyone what i was saying is that if you have credit bad enough to make your deposit on a phone 750 that may not be the right thing to spend the money on. i am proud that i have good credit, i have worked hard to build up my credit history and strive to keep it good. but thing do happen and i can only do the best i can to keep it good. im not trying to put down anyone. maybe what i said was worded wrong, i apologize for that.

[janey]

blah blah blah
it was somewhat inappropriate to say here given someone ALREADY said that when it was STILL inappropriate to a group of people it didn't really apply to.

and given you reaffirmed your beliefs multiple times in the same manner, it sure does sound like you're on a high horse.

[retrospects]

wow i can do that too

oh well regardless, we are typing at each other on the computer and i could care less if you think i offend you. bottom line, if you have to pay the 750 you PROBABLY dont need the phone, your money could be used in a better placed such as books for school or a new diaper.

[devilot]

This doesn't seem to be getting anywhere anytime soon. And I think everyone's slightly on edge. If another mod has the time to sift through all these posts and clean it up, props to them. If not? This'll stay closed for a bit.