Does anyone know if current participants on Apple's IUP will get another hard hit on their credit when they go to upgrade onto the ip7+?
Does anyone know if current participants on Apple's IUP will get another hard hit on their credit when they go to upgrade onto the ip7+?
This has already been answered. If you participated in the upgrade program last year and you have made 12 payments then all it is is a soft pull.Does anyone know if current participants on Apple's IUP will get another hard hit on their credit when they go to upgrade onto the ip7+?
It will be a "new hard pull" on your credit no matter what.
A credit check that affects (lowers) your credit score.What's a "hard hit"?![]()
I had that confirmed yesterday at the Apple Store in Delaware. If you got 12 payments but less than 24 payments, you trade the phone in and a new contract is written up, and it is a soft pull on your credit.I made a post about this a week or so ago, and it is my understanding that since getting a new phone would be under a new loan, it would be a hard credit pull.
EDIT: most people here seem to say its a soft. I truly hope that is the case.
Just a guess but I would think if you are already on it and satisfied the 12 months of payments without issue I can't imagine another hard hit.
Of course who knows.
This has already been answered. If you participated in the upgrade program last year and you have made 12 payments then all it is is a soft pull.
A credit check that affects (lowers) your credit score.
as far as im aware the carrier payment plans dont do a new hard pull when you upgrade, why does apple need to?
That time period is two years, though. If it's the only pull you have on your report, it's not a big deal, but it can hurt some people.It "can" affect your credit if you have multiple hard pulls with in a time period.
I don't think that's true. I don't think carriers run a credit check when you renew a contract.My brother called the carrier and said that there is a hard pull each time you start a new contract. Does not matter to me as I buy outright but a call to the carrier or Apple should have an answer.
That's what I would think!
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Thanks...I'm tryin to limit my inquiries after hitting the 5/24 (5 new accounts in 24mnth period) rule.
Experian.Oh damn, will this affect 5/24??
EDIT: That's fine, i have no intention of applying for any more credit from Chase or any other bank for a good long while.
[doublepost=1473280183][/doublepost]Also, what bureau does Citizens One pull?
According to the actual terms: http://www.apple.com/legal/sales-support/iphoneupgrade_us/ it's a new loan, with a new credit check. Since it's a new loan like the original, I assume it's a hard pull. What's more interesting is that it states we have 14 days to return the current phone, so, all of this could (have) been done the old way 'over the air' and the new phones shipped to us.
I wonder if that will happen next year, since NEW IUP people are enrolling online.
(OT: Is there no way to include hyperlinks cleanly with the new software?!)
I do NOT think they are doing that this time, unfortunately, as everything talks about coming into the store and bringing your old phone. I'd love to have 14 days to roll everything over, too, and not trust to backups. I bet we can do it all online next year. But that's just my wishful thinking.Wow great find of that 14 day return of financed phone window! So technically we can have the phones shipped to us and return the old phone at our leisure within 14 days. That would be so much more convenient. I'm hoping it still may be an option at checkout tonight. I'll find out at midnight!
That's what I would think!
[doublepost=1473276494][/doublepost]
Thanks...I'm tryin to limit my inquiries after hitting the 5/24 (5 new accounts in 24mnth period) rule.
What's a "hard hit"?![]()
That's what I would think!
[doublepost=1473276494][/doublepost]
Thanks...I'm tryin to limit my inquiries after hitting the 5/24 (5 new accounts in 24mnth period) rule.
I do NOT think they are doing that this time, unfortunately, as everything talks about coming into the store and bringing your old phone. I'd love to have 14 days to roll everything over, too, and not trust to backups. I bet we can do it all online next year. But that's just my wishful thinking.
Note it doesn't state you HAVE that option, it states IF you have that option, you have 14 days to send it back. Not the same thing.![]()