Other How does the iPhone Upgrade Program show up on a credit report?

[c0LdFire]

Hoping someone here might know -

I am tempted to purchase an XS through the IUP rather than my carrier, but I'd like to know how (or if) it shows up on ones' credit report first. I am in the market to buy a house in the next year or so and would rather it not show up in my debt to income ratio as a minimum payment.

Thanks in advance for any info!

 

[Shadowbech]

Yes it will show on Equifax as a hard pull (inquiry) for the first time you enroll. It won't show your utilization of it though.

 

[c0LdFire]

Ah, perfect. I don't care about an inquiry at all, but I really don't want it to show as an actual account/utilization. Not that it'd be a huge difference, but stupid to risk it for a phone when going for a mortgage...

Thanks!

 

[Shazamadoo]

Ah, perfect. I don't care about an inquiry at all, but I really don't want it to show as an actual account/utilization. Not that it'd be a huge difference, but stupid to risk it for a phone when going for a mortgage...

Thanks!

Depending on what stage you are on in obtaining a mortgage, a hard inquiry can have some harsh outcomes if you are near closing. It could derail your mortgage loan, or delay closing with you having to explain the extra conditions.

Tons of horror stories of people furnishing their new homes or applying for credit to furnish, before they actually close and record, only for their loan to be rejected due to all the extra conditions.

 

[AustinIllini]

Yes it will show on Equifax as a hard pull (inquiry) for the first time you enroll. It won't show your utilization of it though.

Just the first time, I think as well. I didn't get a hard inquiry on renewal.

 

[Shadowbech]

Just the first time, I think as well. I didn't get a hard inquiry on renewal.

Yea, typically just the first time if you first enroll. Otherwise the next time you "Upgrade", it's a soft pull. Same here, it was a soft pull for me for the renewal.