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Any downside of iUP

T

Tiks90

macrumors newbie
Original poster
Apr 23, 2015
21
1
Hello all,

I wanted to know if there is any downside of going with apple's upgrade program ? I am opting in for my iphone7plus this time so that i can upgrade it next year.

Apart from mandatory applecare plan do you see any other downside ?
 
We are not doing it because it's a hard pull (on your credit) every year for each phone.
 
I have been reader for a few years... but no i was not on the forum a week ago
 
But now they are getting special treatment.... arent they ? I have been trying to get a plus from apple store but am not able to get it as they are reserved for the iup members
 
techiegirl said:
We are not doing it because it's a hard pull (on your credit) every year for each phone.
Click to expand...

I am really baffled by all the talk about this "hard credit pull". Has anyone been actually negatively affected after getting this "hard pull"? I have excellent credit so maybe that's why I don't see any difference. Can someone please explain this to me!? It just seems silly...
 
techiegirl said:
We are not doing it because it's a hard pull (on your credit) every year for each phone.
Click to expand...

Really? Every year? That seems extreme. I went through my carrier to avoid that first hard pull, but I never considered they'd keep doing them.

DetTigers said:
I am really baffled by all the talk about this "hard credit pull". Has anyone been actually negatively affected after getting this "hard pull"? I have excellent credit so maybe that's why I don't see any difference. Can someone please explain this to me!? It just seems silly...
Click to expand...

Buying a house soon. Would prefer to have as few roadblocks as possible. Already have several other pulls recently from getting married and moving.
 
DetTigers said:
I am really baffled by all the talk about this "hard credit pull". Has anyone been actually negatively affected after getting this "hard pull"? I have excellent credit so maybe that's why I don't see any difference. Can someone please explain this to me!? It just seems silly...
Click to expand...
Some people think the higher your credit rating, the higher your status in society.
 
Taco1933 said:
Really? Every year? That seems extreme. I went through my carrier to avoid that first hard pull, but I never considered they'd keep doing them.
Click to expand...

And if you're like me, with my husband and I, it's 2 pulls every year.
 
Phone Junky said:
Some people think the higher your credit rating, the higher your status in society.
Click to expand...

I mean how much can a credit pull really affect your score? Can't be much. It's not like you're gonna buy a house or a car and the bank is like "I'm sorry sir, you had excellent credit but Apple did a hard credit pull and now you just have good credit".
 
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Requirement of apple care for a phone you're only going to have for a year keeps me away, seems silly that you don't have the option of not getting it unless you do the longer plan
 
DetTigers said:
I mean how much can a credit pull really affect your score? Can't be much. It's not like you're gonna buy a house or a car and the bank is like "I'm sorry sir, you had excellent credit but Apple did a hard credit pull and now you just have good credit".
Click to expand...

My score dropped 20 points with a pull when I bought a car (with cash). If you are planning on buying a house or refinancing in next 6 months, it's not worth it.
 
DetTigers said:
I mean how much can a credit pull really affect your score? Can't be much. It's not like you're gonna buy a house or a car and the bank is like "I'm sorry sir, you had excellent credit but Apple did a hard credit pull and now you just have good credit".
Click to expand...

I underwrite loans for a bank. It really doesn't matter at all. Only way it would do any major damage is if you have tons of hard inquiries frequently. Like multiple times a year we're talking. If you have the occasional hard inquiry every few months it means nothing. It might drop it less than 5 points which is gained back quickly.
 
cdrob said:
I underwrite loans for a bank. It really doesn't matter at all. Only way it would do any major damage is if you have tons of hard inquiries frequently. Like multiple times a year we're talking. If you have the occasional hard inquiry every few months it means nothing.
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Thank you! I figured this was the case. Where did all this hard credit pull hysteria come from I wonder??
 
DetTigers said:
Thank you! I figured this was the case. Where did all this hard credit pull hysteria come from I wonder??
Click to expand...

It is a good thing to be mindful of your credit but some people either misjudge the effect of hard inquiries or are OCD about their credit score.
 
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Tiks90 said:
But now they are getting special treatment.... arent they ? I have been trying to get a plus from apple store but am not able to get it as they are reserved for the iup members
Click to expand...

If by special treatment you mean we got to call Apple daily just trying to figure out what was going on all week because we couldn't order phones, and in the end some of us got phones and some of us didn't and now are just having to get up at midnight every night to check stock, then yes. I considered it a very special experience, one I don't plan to repeat. Unless Apple gives us some really good reason to stay in the program I'm going to pay off my loan and get out of the program before next year.
 
techiegirl said:
My score dropped 20 points with a pull when I bought a car (with cash). If you are planning on buying a house or refinancing in next 6 months, it's not worth it.
Click to expand...

That's very odd? Did the dealership shotgun your credit and send it to tons of banks? Even then 20 isn't that much and should be easy to get back. Most import things isn't necessarily your credit score but your credit history. If you have perfect payment history and a long credit profile 720 vs 740 means nothing.
 
techiegirl said:
My score dropped 20 points with a pull when I bought a car (with cash). If you are planning on buying a house or refinancing in next 6 months, it's not worth it.
Click to expand...

20 points is very extreme for a credit pull. At most mine is 4-5 points per hit. I only dropped 3 points for the credit pull last year on IUP.
 
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