Declined for Apple upgrade program?

[KPOM]

[/QUOTE]

Also, they stated that they only check one of the reporting bureaus, so They don't deal with Transunion or Experian. ONLY Equifax. That annoyed me, as TransUnion was reporting things completely different to what EquiFax had. And this was after being on hold with them for an hour.

BL.

That would explain why I don't have a hard pull showing up on Transunion. I stagger my free annual credit reports and will check Equifax in a few months.

 

[bradl]

A denial will typically take 15-30 points off your score, so be careful

Which is why the next thing that needs to be done is to request to have the hard pull taken off the credit report. Since the type of credit check was never disclosed, there is wiggle room for arguing for the removal of the pull.

Otherwise both the pull and the denial stay on the report for at least 2 - 3 years.

BL.

 

[EW800]

A denial will typically take 15-30 points off your score, so be careful

I don't think this is accurate. As far as I know, an inquiry is an inquiry, other than being a HP or SP. FICO scoring does not know if it is an approval or denial. I person could tell by doing a manual review by looking to see if there is a new account listed from the creditor. For most credit profiles there would be a slight score drop for the hard pull itself, but I don't think the scoring aspect cares if it is an approval or denial.

 

[EW800]

Some of the denials were because of glitches.

It does appear that there were a lot of denials due to some glitches. I feel bad for the people that were a victim of this - ending up with a hard pull. It will be interesting to see what the reasons are that are given on the required denial letters that go out.

 

[supervelous]

I don't think this is accurate. As far as I know, an inquiry is an inquiry, other than being a HP or SP. FICO scoring does not know if it is an approval or denial. I person could tell by doing a manual review by looking to see if there is a new account listed from the creditor. For most credit profiles there would be a slight score drop for the hard pull itself, but I don't think the scoring aspect cares if it is an approval or denial.

Correct. They don't know whether it's a denial or not. The hard pull will drop your score usually, and the only other score impact will potentially be once the new tradeline hits your credit report and impacts AAoA. Not sure if these report on your credit though and how. I'd think as an installment loan.

 

[EW800]

Correct. They don't know whether it's a denial or not. The hard pull will drop your score usually, and the only other score impact will potentially be once the new tradeline hits your credit report and impacts AAoA. Not sure if these report on your credit though and how. I'd think as an installment loan.

You and I are thinking alike! I too have been wondering if these are going to be listed as an installment loan or revolving. I suspect we will find out soon enough!

 

[Applejuiced]

Called Citizens One and they said that the credit checking agency, Equifax (where I have a 750+ score) said I have "Insufficient credit history on file at the credit bureau". I mean sure, I'm not 40 years old, so then how did folks younger than me on this forum get approved?

They said to call Equifax to clear it up. What a headache.

Everyone's situation is different.
If you didn't get approved there isn't anything you can argue about. Just work on improving your credit. It will come handy in the future and not just for a cellphone payment plan.

 

[CBillups1]

Can anyone tell me why YOUU us are apply for the program then using a credit card to pay for the phone? This is confusing

I thought the whole point is that citizen bills you the amount since you are taking credit/loan for the phone?

So why are people using their visa, Amex, and what not to charge the phone? Why not just use a credit card then?

Sorry just confused

 

[Yomama126]

Just wanted to share what the rep who handled two AUP program transactions we did said to me today. My daughter noticed that at some point in my transaction street names were being automatically abbreviated - LN instead of Lane - and asked about it. He had me correct it, and said he had seen a bunch of denials come from little discrepancies like that. I really can't recall where we were in the process, but I do know that the "LN" abbreviation did not match my credit card billing details. No idea if what he said was accurate, but she and I both made the same corrections and were approved. We had a long wait because the store had no record of our reservation and we observed other reps telling people to be very careful checking if address information was correct and matched their cc billing details. We were at the 5th Avenue store in NYC.

Hope this helps someone.

 

[KPOM]

Can anyone tell me why YOUU us are apply for the program then using a credit card to pay for the phone? This is confusing

I thought the whole point is that citizen bills you the amount since you are taking credit/loan for the phone?

So why are people using their visa, Amex, and what not to charge the phone? Why not just use a credit card then?

Sorry just confused

You do take out an installment loan, but instead of mailing checks or setting up payments through a bank account, Citizens charges your credit card for the monthly payments. Either way, it amounts to an interest free loan, so that's why people aren't just charging the full price upfront. Granted, when bank accounts pay next to nothing, it isn't as valuable, but it still helps short term cash flow.

 

[Applejuiced]

Can anyone tell me why YOUU us are apply for the program then using a credit card to pay for the phone? This is confusing

I thought the whole point is that citizen bills you the amount since you are taking credit/loan for the phone?

So why are people using their visa, Amex, and what not to charge the phone? Why not just use a credit card then?

Sorry just confused

Because there is no interest paid for 24 months of installment payments.
Regular credit card charges interest on purchases.

 

[CBillups1]

You do take out an installment loan, but instead of mailing checks or setting up payments through a bank account, Citizens charges your credit card for the monthly payments. Either way, it amounts to an interest free loan, so that's why people aren't just charging the full price upfront. Granted, when bank accounts pay next to nothing, it isn't as valuable, but it still helps short term cash flow.

This makes zero sense to me. You are getting charged to your credit card... What's the point on being approved? With a credit card minus AMEX you are paying monthly

Thought this program was completely different

 

[CBillups1]

Meh, you can easily get approved for a new card if you want no interest

 

[Applejuiced]

Meh, you can easily get approved for a new card if you want no interest

For some with good credit is very easy. I can apply to get any card I want too.
But As you can see its not as easy for many many other people
And a new credit card with 0 interest for a full 2 years on purchases? I know most do 0 interest for a year on balance transfers and that also comes with a 2-5% fee.

 

[KPOM]

This makes zero sense to me. You are getting charged to your credit card... What's the point on being approved? With a credit card minus AMEX you are paying monthly

Thought this program was completely different

Citizens One is still taking the risk that you'll cancel your card, hit your limit, etc.

 

[CBillups1]

You can't cancel your Card if you have a balance, if you decide to not pay it... Well you go to collections, ruin your credit, garnished wages possibly all over trying to get a $750 for free?

It can be done without citizen

I don't see the point if either way they are charging your credit card

 

[Applejuiced]

You can't cancel your Card if you have a balance, if you decide to not pay it... Well you go to collections, ruin your credit, garnished wages possibly all over trying to get a $750 for free?

It can be done without citizen

I don't see the point if either way they are charging your credit card

You can make one payment for example and then call and close the credit card that has the autopay setup. Then citizens gets stuck and eats the loss. You'd be surprised how many people ruin their credit for way less than $700. Many many financially irresponsible individuals out there.

 

[KPOM]

You can't cancel your Card if you have a balance, if you decide to not pay it... Well you go to collections, ruin your credit, garnished wages possibly all over trying to get a $750 for free?

It can be done without citizen

I don't see the point if either way they are charging your credit card

You still get 2 years to pay it off. It's no different from doing an installment plan with a carrier. Most people set up their carrier bills to pay from a credit card. The carriers still run a credit check before signing someone on to a postpaid plan.

 

[KPOM]

It can be done without citizen

Sure, if Apple wanted to assume the credit risk or service the loans, they could have extended the installment loans and set up automatic payments to customers' credit cards. But they, like most retailers these days, don't want to do that. It's much cheaper for a bank to service the loans and manage credit risk because that's what banks do.

 

[Sean76]

Why is this so hard for some people to understand?

I reserve my iphone of choice over the internet while sitting on my couch, I go to an apple store and don't have to wait on any lines and get a Brand new iphone for $44 a month with Apple care, and than in a year I trade it in for the next model all without having to deal with those bozos at at&t.

I really don't see what people aren't getting? For someone like myself who always likes to upgrade to the newest model this is a pretty fair deal. Instead of having to either sign a contract with my carrier, or buying the phone outright and than having to sell it the next year I just trade my current iphone in and deal directly with apple. Works for me!

 

[CBillups1]

Why is this so hard for some people to understand?

I reserve my iphone of choice over the internet while sitting on my couch, I go to an apple store and don't have to wait on any lines and get a Brand new iphone for $44 a month with Apple care, and than in a year I trade it in for the next model all without having to deal with those bozos at at&t.

I really don't see what people aren't getting? For someone like myself who always likes to upgrade to the newest model this is a pretty fair deal. Instead of having to either sign a contract with my carrier, or buying the phone outright and than having to sell it the next year I just trade my current iphone in and deal directly with apple. Works for me!

I understand that fully

What I didn't understand was the need of a credit card and having it being charged to your card

Oh well

 

[lsutigerfan1976]

Because there is no interest paid for 24 months of installment payments.
Regular credit card charges interest on purchases.

Keep in mind with the Apple program. Even if you get approved. Your payments get charged to a card. And Apple may not charge interest. But the card use use every month charges interest. That is why I went the route of simply selling my 6 plus and buying my new phone out right. And using the proceeds from the sale to pay off my new purchase.

 

[ssl0408]

This thread has brought out a lot of judgmental people. Instead of offering advice they're trying to prop themselves up.

 

[onujpt]

This thread has brought out a lot of judgmental people. Instead of offering advice they're trying to prop themselves up.

It's the Internet. Did you expect anything less?

 

[ssl0408]

For some with good credit is very easy. I can apply to get any card I want too.
But As you can see its not as easy for many many other people
And a new credit card with 0 interest for a full 2 years on purchases? I know most do 0 interest for a year on balance transfers and that also comes with a 2-5% fee.

The point of the program is to make it easy for someone to upgrade every year. It is a hassle for some people to try and find a buyer for their phone on Craigslist or sell it on eBay and have fraud problems. Stop being so darn judgmental.