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Any Regrets About Upgrade Program?
- Thread starter jimbo1mcm
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Not digging the hard credit check they did on me. That's going to be an issue for me if they do it every year. Other than that no complaints yet, but waiting to see how easy the upgrade process is...
I'm actually glad I didn't do it. I was planning on doing it, but then I had a change of heart and sold my old iPhone 6 and then I used the money to purchase the 6s outright! I'll probably do the same thing this year.
It kind of does on O2, I'm on it
http://www.o2.co.uk/help/phones-and-devices/our-new-iphone-6s-and-iphone-6s-plus-tariffs
Yeah EE do the same to a degree (which I'm currently on), but a SIM only plan would be 10x cheaper then anyone else
I really do not like a company like this even being on my credit records. There are some credit issuers that are a negative to just have on your report.
I'm not on it, mostly because I don't see much difference between this and the carrier's lease program.
Financially, it's not bad if you keep the phone for 2 years (after which it'll be paid off and you keep/own the phone).
Trading in each year will be beneficial to Apple. You're spending half of the price of the phone to essentially rent it for a year, and continue doing so every year. Excellent revenue for Apple and they're moving a new phone each year. It is a very convenient way to stay on the latest iPhone. Never have to worry about selling the year old one to upgrade each year.
Trading in each year will be beneficial to Apple. You're spending half of the price of the phone to essentially rent it for a year, and continue doing so every year. Excellent revenue for Apple and they're moving a new phone each year. It is a very convenient way to stay on the latest iPhone. Never have to worry about selling the year old one to upgrade each year.
If it wasn't Apple running the credit check, it would have been AT&T, Verizon, or whoever your carrier is. The upgrade program is, after all, an unsecured loan.
If a phone contract credit check is enough to significantly adversely affect your credit score, you may have bigger problems...
Some are concerned that they will do the same hard check year after year if you upgrade yearly.
So there's a difference a company running a hard credit check and a soft credit check.
I purchased 4 iPhones last year with AT&T using their Next program. They did a soft credit check. No impact to credit score.
Purchased 2 iPhones this year with Apple's Upgrade Program. Their bank partner (Citizen's One) did a hard credit check for each phone. Minimal impact on credit score, but it was an impact none-the-less.
My credit is actually spectacular, partially because I watch it on a regular basis.
I recently closed on a new house and setup service with some companies for the first time (FiOS, natural gas, new homeowners insurance, switched auto insurance to a different company as well). All of those involve credit checks too, and every single one of them was a soft credit check.
I just don't like seeing Citizens One sitting out there on my credit report, and knowing that it's going to be there for two years. I'll give them the benefit of the doubt that they somehow needed two hard credit hits to initially setup an account for $1,300 with them, but if they're going to do that every year when I renew, that's a deal breaker for me. I'll go back to the AT&T Next program, who doesn't require a hard credit hit for an unsecured loan of 2x that amount.
It's a non-starter for me. I buy my phones outright with the proceeds from selling my older phone. I cannot justify "renting" a phone for all of eternity.
Assuming you sell your phones for 50% of what you bought them for, the net cost is the same between how you do it and how the Apple Yearly Upgrade program works. It's just that the Apple Yearly Upgrade program doesn't require floating $649+ of your money for a year.
That's true, but selling a year old iPhone can usually bring in more than 50% of the original purchase price. I've done it every year and have always gotten about 80% of the original purchase price.
There is always the risk that your return won't be what you hope, but I have had excellent luck in selling my phones for a solid return. Last year, well last Sept, I sold my 128GB mint 6 I had since launch day for $720 two weeks prior to the new release. I only had to pay $180 out of pocket for my 6S.
I did AT&T Next. I can't imagine giving up my Beloved in September, even if it's to get another Beloved. I send my current Beloved to a family member and then get a new Beloved.
Yeah - I am as well worried about another credit pull next year. I think I'm more angry about the fact that I was told by multiple specialists and managers that Apple at Citizens One told them it would be a soft pull like AT&T Next. I just was not expecting the hard pull. I have to keep inquiries off my credit report because I need to save them for my Law School loans. So if they require another hard credit pull, I will have to go back to AT&T Next.
Its still too early, it is most likely that this is just introductory pricing and the next iphone will be significantly more expensive per month, trapping people into their current phones. Remember a new phone = new lease = new price per month, wait to see what happens when it comes time to upgrade.
If you looked at Tmobile's lease prices on phones they werent having a sale on like the Galaxy it was absurdly expensive per month compared to the iPhone, I have a feeling that will happen with the Apple leasing program sooner rather than later.
If you looked at Tmobile's lease prices on phones they werent having a sale on like the Galaxy it was absurdly expensive per month compared to the iPhone, I have a feeling that will happen with the Apple leasing program sooner rather than later.