Apple Upgrade Program (Credit Check)

Discussion in 'iPhone' started by jgibbs1685, Aug 15, 2016.

  1. jgibbs1685 macrumors newbie

    Sep 13, 2014
    I'm not sure if this has been posted already. I just talked with Citizens Bank (The bank Apple uses to finance the program) and asked if a hard credit check will be done on returning customers and they stated yes. Yes because they are considering it a new loan.

    Just a F.Y.I. For those wondering.
  2. lordofthereef macrumors G5


    Nov 29, 2011
    Boston, MA
    Yeah, it was covered in the beginning, but a reminder is always nice. This is probably the biggest complaint I've heard about the program.
  3. Bigserver1 macrumors regular

    Sep 26, 2012
    This is a terrible side effect of an otherwise pretty good upgrade plan. I did the upgrade plan starting with the 6s, and will probably do the upgrade program again, but I'm reticent about the hard pull every year. For me that's better spent on a great CC bonus offer, or something similar.
  4. chscag macrumors 68030


    Feb 17, 2008
    Fort Worth, Texas
    Why wouldn't you think that a credit check would be done again? It's a new loan and that's pretty much standard procedure for most banks. If that's a problem you can always use a personal credit card instead. ;)
  5. justinf77 macrumors 6502

    May 18, 2003
    Hard pulls really aren't that big of a deal, I wouldn't worry about it. It's annoying yes, but it shouldn't have any significant impact on your credit score, just a small dip that recovers very quickly.
  6. Bigserver1 macrumors regular

    Sep 26, 2012
    Well with the upgrade program you're paying month over month with a credit card. You'd think they'd do something for existing customers in good standing to avoid a separate hard pull each year.
    --- Post Merged, Aug 15, 2016 ---
    For me it's not the temporary dip in score, it's the wasted hard pull. I strategize CC points for free/discounted flights and hotels and a hard pull for an iPhone means potentially one fewer application. Again, a small gripe, but a gripe nonetheless.
  7. timeconsumer macrumors 68000


    Aug 1, 2008
    The problem with hard inquiries is that they are on your credit report for two years. I personally wouldn't waste a hard pull on an iPhone as you don't know what will come up in the future which may require you to apply for a line of credit. Too many hard inquiries is not considered good. One to two per year is probably fine though.
  8. flashflooder macrumors 6502

    Oct 14, 2011
    they pull it every time you upgrade??!? Wow, that's completely ridiculous. Was actually considering going this route next year when I upgrade, but nevermind.
  9. jgibbs1685 thread starter macrumors newbie

    Sep 13, 2014
    Yep. They consider it a new loan. One would think a customer in good standing and never had a missed payment would get a bypass. While a hard pull isn't a big deal for everyone, it is for me being the process of buying a home. (Might have to look into AT&T Next or just stick with my 6S+ another year).
  10. nburwell macrumors 601


    May 6, 2008
    This is making rethink whether or not I'm going the IUP route for the 7. I purchased the 6s via the program thinking that when I trade in in the phone and get the 7, I would not have to go through another hard pull. I don't necessarily need AC+, so I'm thinking about now paying off the remainder of the 6s, selling it and either buy the 7 outright or go through AT&T NEXT. I'm buying a house next year and even though I have very good credit, I don't need nor want another hard pull on my credit score because I bought an iPhone.
  11. jgibbs1685 thread starter macrumors newbie

    Sep 13, 2014
    Exact position I'm in. Just gotta wait for the 7 to be announced and make my decision on if it's worth getting and going to AT&T Next.
  12. jgibbs1685 thread starter macrumors newbie

    Sep 13, 2014
    Can anyone confirm if returning Upgrade Program customers were hit with a hard pull or a soft pull on your credit check?
  13. apwtwenty macrumors 6502


    Mar 16, 2011
    i just ordered a 7 JB and signed up with the IUP, first time doing it. if there's a JB available in the next 2 weeks or so, at an Apple Store near me, can i cancel the online order and still do the program in store (via reservation)? they wouldn't have to check my credit again would they?
    i've already been approved

  14. brianjsw01 macrumors member

    Nov 16, 2015
    I can confirm they will do a hard pull again. Lame.[​IMG]
  15. jgibbs1685 thread starter macrumors newbie

    Sep 13, 2014
    Thanks for the info.

    What a bunch of crap. I know a hard inquiry usually isn't bad but after a new house and a new car...I'll pass.
    iPhone 8 it is.
  16. djcingular macrumors regular


    Sep 15, 2014
    Princeton, NJ
    Were you already in the IUP, or was this your initial enrollment into the program?
  17. Mlrollin91 macrumors G5


    Nov 20, 2008
    Ventura County
    I did not get hit with a second check. Only my original from last year.
  18. skeeedunt macrumors newbie


    Sep 20, 2016
    I didn't even get hit with a hard pull when leasing my last car. If they're really doing it for upgrading folks with a good payment history, that seems way excessive.

    Seems like the verdict is still out though, I'm seeing the same thing here as in other threads - some upgraders get a fresh hard pull, others don't. Wonder if there's any consistency to it.

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