Any Regrets About Upgrade Program?

Discussion in 'iPhone' started by jimbo1mcm, Jan 28, 2016.

  1. jimbo1mcm macrumors 68000

    Joined:
    Mar 21, 2010
    #1
    Starting to feel a little excited about getting a new phone this September again. Went into the upgrade program last September for the main reason of getting a new phone each year. No regrets.
     
  2. melman101 macrumors 68030

    Joined:
    Sep 3, 2009
    #3
    I regret the $90 bucks I gotta pay for my wife and I, but I love the program. LOL
     
  3. nburwell macrumors 601

    nburwell

    Joined:
    May 6, 2008
    Location:
    DE
    #4
    No regrets here. Although I was a bit late to the program, I can start making additional payments so I can get the new iPhone at launch (I may wait though).
     
  4. aristobrat macrumors G5

    Joined:
    Oct 14, 2005
    #5
    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...
     
  5. gabo864 macrumors 6502a

    gabo864

    Joined:
    Sep 13, 2012
    #6
    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.
     
  6. tophericks macrumors newbie

    Joined:
    Jan 28, 2016
  7. Blujelly macrumors 65816

    Blujelly

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    South East England
  8. TwiceNightly macrumors 6502

    TwiceNightly

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  9. Blujelly macrumors 65816

    Blujelly

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    #10
  10. Newtons Apple macrumors Core

    Newtons Apple

    Joined:
    Mar 12, 2014
    Location:
    Jacksonville, Florida
    #11
    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.
     
  11. maflynn Moderator

    maflynn

    Staff Member

    Joined:
    May 3, 2009
    Location:
    Boston
    #12
    I'm not on it, mostly because I don't see much difference between this and the carrier's lease program.
     
  12. profets macrumors 601

    Joined:
    Mar 18, 2009
    #13
    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.
     
  13. nightcap965 macrumors 6502a

    nightcap965

    Joined:
    Feb 11, 2004
    Location:
    Cape Cod
    #14
    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...
     
  14. Newtons Apple macrumors Core

    Newtons Apple

    Joined:
    Mar 12, 2014
    Location:
    Jacksonville, Florida
    #15
    Some are concerned that they will do the same hard check year after year if you upgrade yearly.
     
  15. aristobrat macrumors G5

    Joined:
    Oct 14, 2005
    #16
    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.
     
  16. dwfaust macrumors 601

    dwfaust

    Joined:
    Jul 3, 2011
    Location:
    I am here => [•]
    #17
    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.
     
  17. aristobrat macrumors G5

    Joined:
    Oct 14, 2005
    #18
    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.
     
  18. profets macrumors 601

    Joined:
    Mar 18, 2009
    #19
    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.
     
  19. ARizz44 macrumors 6502a

    ARizz44

    Joined:
    Sep 28, 2015
    Location:
    Chicago, IL
    #20
    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.
     
  20. MacKai macrumors regular

    MacKai

    Joined:
    Jun 15, 2010
    Location:
    East Bay Area, CA
    #21
    That is the best way to do it.
     
  21. Newtons Apple macrumors Core

    Newtons Apple

    Joined:
    Mar 12, 2014
    Location:
    Jacksonville, Florida
    #22
    I also prefer to buy them outright. No way I will give up my AT&T Unlimited until the make me by raising the price to where it is not worth it for me.
     
  22. Qbnkelt macrumors 65816

    Qbnkelt

    Joined:
    Oct 15, 2015
    Location:
    Mid-Atlantic
    #23
    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.
     
  23. Mlrollin91 macrumors G5

    Mlrollin91

    Joined:
    Nov 20, 2008
    Location:
    Ventura County
    #24
    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.
     
  24. zombiecakes macrumors regular

    Joined:
    Jul 11, 2012
    #25
    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.
     

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