Credit Check

Discussion in 'iPhone' started by Smoke19, Jun 23, 2007.

  1. Smoke19 macrumors member

    Joined:
    Jun 23, 2007
    Location:
    SoCal
    #1
    In order to buy an iPhone, would you have to pass a credit check? I'm 19 years old and have no credit. Would they still be able to offer it to me? Will I have to put down a deposit for them to consider me?
     
  2. fishkorp macrumors 68020

    fishkorp

    Joined:
    Apr 10, 2006
    Location:
    Ellicott City, MD
    #2
    yes, cellular contracts require a credit check. if you don't meet their requirements the security deposit ranges from $200 to $700 per line, which you get refunded after 12 or 24 months assuming you pay on time.
     
  3. Smoke19 thread starter macrumors member

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    Jun 23, 2007
    Location:
    SoCal
    #3
    I hope it's not that much for a deposit. I heard that it might be $150, but who knows and this time. :confused:
     
  4. /dev/toaster macrumors 68020

    /dev/toaster

    Joined:
    Feb 23, 2006
    Location:
    San Francisco, CA
    #4
    Security deposits on phones are never that low. Expect close to $500. Call AT&T and have them run your credit. If you have your credit run more then once within a week period, it won't count negative towards ya.

    They will still need to re-run your credit on Friday, but at least you will know if you can afford the deposit.
     
  5. xfiftyfour macrumors 68030

    xfiftyfour

    Joined:
    Apr 14, 2006
    Location:
    Clemson, SC
    #5
    There's not a set amount for a deposit, it's all dependant on your credit (aka, how much of a "risk" you are). When we set up our phones, I think we had to pay $100 per line (so $200 total), but I've heard about others having to pay $500 per line.

    If I were you, I wouldn't buy the iPhone until you call AT&T and ask them to run your credit to find out what your deposit will be.
     
  6. skye12 macrumors 65816

    skye12

    Joined:
    Nov 11, 2006
    Location:
    Austin, Tx
    #6
    Deposits for service can often be $250-750. Used to work at Cingular.
    Or you can get a parent to co-sign your service under their credit.
    After a year or so of good payment history, you can transfer service to your name.

    Get credit. Even students can get credit cards these days. Go to your
    bank or credit union and get a $200 loan and pay it back in 3 months.
    You will need credit once you stop depending on your parents. Utilities,
    apartments, insurance and employers often run credit checks.
     
  7. TheBusDriver macrumors 6502

    Joined:
    Dec 24, 2005
    #7
    I'm 19 and have little to no credit and I walked in yesterday and had a credit check performed on me :D I got pre-approved with no deposit, also it is good for 30 days so if you get pre-approved before Friday it will make your iPhone getting time much shorter.
     
  8. berkleeboy210 macrumors 68000

    Joined:
    Sep 2, 2004
    Location:
    Boston, Massachusetts
    #8
    AT&T has been the cheapest in terms of Deposit's for me. They've wanted $150 in the past.

    Verizon has wanted as much as 800 bucks.

    But Surprisingly I can walk out of a Sprint or T-Mobile Store paying absolutely $0 for a Deposit.
     
  9. /dev/toaster macrumors 68020

    /dev/toaster

    Joined:
    Feb 23, 2006
    Location:
    San Francisco, CA
    #9
    Verizon has the largest deposits. I have had bad credit for quite a number of years now, that maybe someday I will dig out of.

    Here is my past deposit history.

    Voicestream (Now T-Mobile): $500
    Sprint: $500
    Nextel: $500
    T-Mobile: $500 per line, was allowed to add a 2nd line 6 months in
    Verizon: $1000
    AT&T: $750
     
  10. Smoke19 thread starter macrumors member

    Joined:
    Jun 23, 2007
    Location:
    SoCal
    #10
    I just went to the AT&T store and I had a credit check and the guy said I have to pay a $150 deposit. The guy at the store said that was pretty good for someone that had no credit. I'm not going to be able to buy the iPhone until the middle of July and I asked if there would be a good amount of the phone at that time and he said yes without hesitation. Can't wait to get my iPhone. It's going to be sweet.
     
  11. janey macrumors 603

    janey

    Joined:
    Dec 20, 2002
    Location:
    sunny los angeles
    #11
    I'm fairly sure AT&T doesn't require deposits that high, even with crappy credit, I've just never seen it and I've seen some people with awful credit not have to pay any deposit.

    And also iirc AT&T doesn't rerun a credit check if they did one in the past x number of weeks or something (not sure...just remember vaguely from hofo), they just re-lookup that info from before. Also the credit checks counting negatively is somewhat of a myth, it depends on how many from who in what kind of time period ..pretty complicated, but either way they wouldn't check twice in a week.
     
  12. TheBusDriver macrumors 6502

    Joined:
    Dec 24, 2005
    #12
    30 days.
     
  13. janey macrumors 603

    janey

    Joined:
    Dec 20, 2002
    Location:
    sunny los angeles
    #13
  14. TheBusDriver macrumors 6502

    Joined:
    Dec 24, 2005
    #14
    well I don't know for 100% this is just what the chick at AT&T said :D

    Cheers,
    Steve
     
  15. MR MIDWAY macrumors newbie

    Joined:
    Jun 11, 2007
    #15
    I went to att and had them run a credit check just to speed up the process for the 29th that is good for 30 days they will just pull up your name and will have the info there. The assistant manager said that if you have decent credit you will not have to put down a deposit, fair credit maybe $ 100.00, I did this because I am porting my number from nextell, check to see about you phone numbers, he said some are not portable.:eek:
     
  16. /dev/toaster macrumors 68020

    /dev/toaster

    Joined:
    Feb 23, 2006
    Location:
    San Francisco, CA
    #16
    I have ported my number from 4 companies now :D As long as its from a national carrier it should port over fine.
     
  17. mattcube64 macrumors 65816

    mattcube64

    Joined:
    May 21, 2006
    Location:
    Missouri
    #17
    Well, here's something interesting. My parents recently went through a divorce, and so my mom's credit is total crap. I was originally gonna put everything on her credit... but after hearing this, I think it might be better to just have me sign-up. I'm 18, with zero credit. And I'm hearing of $150 deposits. Seems that I might be better of using my lack of credit rather than my mom's bad credit.
     
  18. jshbckr macrumors 6502

    Joined:
    Apr 20, 2007
    Location:
    Minneapolis, MN
    #18
    I went into Cingular today to get myself all prepped for the iPhone, and I didn't think I had any credit, and he said it was a $500 deposit. Then we checked my stuff, and sure enough, I've got some credit history, so no deposit for me! I think the credit may have come from renting my apartment and stuff.
     
  19. feelthefire macrumors 6502a

    Joined:
    Jun 13, 2006
    #19
    With absolutely no credit, the deposit will be more like $500. With terrible credit, it will be $750. There's no way given a choice between zero credit and bad credit (how did a divorce ruin her credit??) that you will get away with a $150 deposit.
     
  20. Smoke19 thread starter macrumors member

    Joined:
    Jun 23, 2007
    Location:
    SoCal
    #20
    Well I just had a credit check at my local AT&T store and the guy said that it would be a $150 deposit. He said it was good for a person with no credit.
     
  21. wongulous macrumors 6502a

    Joined:
    Dec 7, 2002
    #21
    I used to have a deposit with the OLD AT&T Wireless of $800. After they became Cingular, I checked again, and it was only $400. Concurrently with the Cingular deposit, I had a $200 deposit at Verizon, $150 at Sprint, $0 at U.S. Cellular, $0 at Nextel (but a $12.95/month "account maintenance fee" for credit, lol), and $200 at Alltel.

    But then, as companies and policies change, so do credit classes and deposit amounts specific to the credit classes... then there's overrides for promotions, or bad-credit areas, as well as for new store openings. This happens all the time. Not all areas, stores, providers, and credit checks are created equal.

    More interestingly, most credit checks for wireless companies only go through ONE credit/profile bureau... and you should know that each bureau has a slightly different array of information about you. Therefore which bureau can make a difference depending on your history!
     
  22. wongulous macrumors 6502a

    Joined:
    Dec 7, 2002
    #22
    Also, on a personal note from someone who worked in the wireless industry for over 3 years selling phones retail, and telling people about deposits, ANY deposit is not "good" for someone with no credit. You do NOT build credit with a wireless phone account with any provider in the U.S., and even if it is a paltry $150 (heh), you should save your money for college or for a secured student credit card and just ask your parent(s)/grandparent(s) to sign up for you. Deposits only make sense when an account BUILDS credit for you.
     
  23. Jeffrey903 macrumors member

    Joined:
    May 27, 2006
    #23
    I don't understand why the deposit should be anything over $175 (the cost to cancel the contract). I figure that it should be $175, and if you are too late at paying your bill, they cancel your contract and keep the $175.
     
  24. Tattoo macrumors 6502

    Joined:
    Mar 30, 2005
    Location:
    Miami, Florida
    #24
    Pre-Paid Options!

    HAHA!:D I really wish I could bring up comments of my old thread! Guess I can just say this: "I told you folks that a Track Phone 7-11 Walgreens Pay-As-You-Go Food Stamp Plan for the homeless with NEVER happen with the :apple: iPhone."
    Its funny to read folks who actually thought they could purchase "prepaid" calling cards at Walmart for the :apple: iPhone.
    I knew it would NEVER happen and Im glad they have credits checks.
    Anyone with bad credit NEED not apply! Fix your life before you decide you NEED a $600.00 Smart Phone.
    In the mean time, I see these lines getting a whole lot shorter as the "Credit Checks" weed out the "I only use 15 mins a months on the cell phone" people.:rolleyes:
     
  25. janey macrumors 603

    janey

    Joined:
    Dec 20, 2002
    Location:
    sunny los angeles
    #25
    WTF? That's got to be one of the most ignorant statements I've read lately.

    Nobody said the deposits were only for people with bad credit - this also applies to people with little to no credit as well.

    And Apple's already ****ed over a bunch of the business buyers because of some retarded decisions on their part. Who's the next biggest segment that the iPhone will appeal to?

    Hmm, I REALLY wonder :rolleyes:. High school and college students, and young adults in general. Who probably all already have the likes of sidekicks and iPods. Who probably have little to no credit.

    Back to my "that's an ignorant statement" point...one of the biggest groups interested in the iPhone is a group most likely not to have good credit scores because they are young. Not because they declared bankrupcy or owe a gazillion bucks like the idiot that is Casey Serin, but because they just haven't had the time it takes to build good credit.

    For what it's worth, I have good credit, but even when I had none, that didn't mean I couldn't afford a $200/month plan for a $600 smartphone. It just meant I didn't have credit.

    Also for what it's worth, I plan on using the iPhone more than just as a phone. So what if I only talk 15 minutes on the phone every month? It's none of your business and you shouldn't care because it doesn't affect you in any way. And you'd have to be somewhat of an idiot if you think that people with awful credit and a life that is truly messed up and is in need of fixing are going to line up for this phone.
     

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