iPhone X iPhone exchange woes!!!

dstew201

macrumors 6502
Original poster
Jan 6, 2016
470
296
Sooooooooooo, I go into the Apple store and try to exchange my silver for a gold iPhone.. same specs (256GB, Xs Max). I didn't realize, or rather it wasn't explained to me that I would have to close my current IUP loan, and open a new one!

When they attempted to push through the new loan is was declined, due to my Equifax report being locked (completely forgot about that). Equifax unlocked my report, but it's still coming up declined!!! Now they are explaining that because I have an iPhone X loan (haven't returned that phone yet), and a "return" status Xs Max, it may be causing an issue with the approval ??? HUH?!?!?!??!

So, I asked the genius if this means I don't have a phone, technically? How the heck did the approval process work last week (considering my equifax report has been locked for over a year!!)?

I understand dealing with 3rd parties can sometimes bring on issues, but shouldn't a simple exchange be more seamless???!?

Has anyone else dealt with this before?How did you handle it??

Needless to say, they let me leave the store with my "returned" phone, but I have no clue what the next steps are?

  • Do I need to eventually return this phone?
  • Am i still on the hook paying for the X, which I plan to send back this weekend
  • Will I be on the hook for the total price after 14 days, since the Xs Max citizen loan was closed?

I spoke with someone from Apple over the phone, and she claims that if I do nothing (e.g. keep the Xs Max, and send back the X), everything should normalize and the citizens loan that was "closed" will remain open..

Sorry if this sounds way off, but I am completely confused by this process and I get different answers depending on who I ask (apple store, apple phone support, citizens one...)...
 

iphone4sATT

macrumors newbie
Oct 17, 2011
19
3
You should have purchased the new phone first, then processed the return. My equifax is frozen too, unfroze it one day for pre-approval on pre-order, now back locked. I wanted to try the MAX and picked one up on the IUP Sat AM and it went through fine. I now have two loans showing. They will close the one I end up returning.
 

NoBoMac

Moderator
Staff member
Jul 1, 2014
2,845
1,177
Re: upgrade going through a week ago: a lock does not prevent an existing relationship to do a credit check. Since you already have an IUP loan, they can process a new credit check.
 

ochowie

macrumors newbie
Sep 19, 2016
6
1
You should have purchased the new phone first, then processed the return. My equifax is frozen too, unfroze it one day for pre-approval on pre-order, now back locked. I wanted to try the MAX and picked one up on the IUP Sat AM and it went through fine. I now have two loans showing. They will close the one I end up returning.
This is the right answer. I got bitten by this issue and it clears up in a week or so. The way I got around it was outright buying a phone and then returning it once my iUP got unlocked. I don't like doing stuff like that but if the system is so obtuse and I can't be left without a phone, I'm gonna do it.
 

dstew201

macrumors 6502
Original poster
Jan 6, 2016
470
296
You should have purchased the new phone first, then processed the return. My equifax is frozen too, unfroze it one day for pre-approval on pre-order, now back locked. I wanted to try the MAX and picked one up on the IUP Sat AM and it went through fine. I now have two loans showing. They will close the one I end up returning.
Argh!!! So, should I keep my Xs Max? Or do I have to send it back to Apple, and then try again after they receive it?
 

ant the ninja

macrumors 6502
Nov 21, 2012
347
156
I am sort of having a similar issue.

Pre-orderded the XS Max using my upgrade program from my X but ultimately decided I didn't love the size so I returned it and started over new with another iUP for my XS. I kept asking if this would screw up my trade in X and they assured me it would not. However I am still worried, my trade in kit comes tomorrow but I feel like it will be linked to the XS Max purchase and when they see it was returned they will just send me back my X and continue the loan, which I will not be happy about. I'm hoping they will see that I purchased the XS using the program and link it to that one.
 

dstew201

macrumors 6502
Original poster
Jan 6, 2016
470
296
You realize your credit report is taking a negative hit every time your apply for the loan right?
That's what I was afraid of!!! But of course Apple claims it's a soft pull, and as long as I do it within 30 days of the first pull they use that report. But, I don't know who to trust, since I get a different answer each time I call Apple or Citizens!

Re: upgrade going through a week ago: a lock does not prevent an existing relationship to do a credit check. Since you already have an IUP loan, they can process a new credit check.
that's what I thought, and so did everyone else I asked at Apple and Citizens, but they chalked it up to a system glitch!
 

Shadowbech

macrumors 603
Oct 18, 2011
5,335
1,447
Apple iPhone World
You realize your credit report is taking a negative hit every time your apply for the loan right?
Only the first time it's a hard hit. And even if you return it within 14 days and as long as you buy a new one within the 30 day period, it will be a soft hit. I did this on the 7 Plus and only showed up on the report once. I believe it's just like when you finance a car as well?

But if you are currently enrolled and did the upgrade and then decided to return that one, and reapply for a new loan, that would be a hard hit as well I believe.
 

gadgetfreaky

macrumors 65816
Oct 28, 2007
1,286
447
Sooooooooooo, I go into the Apple store and try to exchange my silver for a gold iPhone.. same specs (256GB, Xs Max). I didn't realize, or rather it wasn't explained to me that I would have to close my current IUP loan, and open a new one!

When they attempted to push through the new loan is was declined, due to my Equifax report being locked (completely forgot about that). Equifax unlocked my report, but it's still coming up declined!!! Now they are explaining that because I have an iPhone X loan (haven't returned that phone yet), and a "return" status Xs Max, it may be causing an issue with the approval ??? HUH?!?!?!??!

So, I asked the genius if this means I don't have a phone, technically? How the heck did the approval process work last week (considering my equifax report has been locked for over a year!!)?

I understand dealing with 3rd parties can sometimes bring on issues, but shouldn't a simple exchange be more seamless???!?

Has anyone else dealt with this before?How did you handle it??

Needless to say, they let me leave the store with my "returned" phone, but I have no clue what the next steps are?

  • Do I need to eventually return this phone?
  • Am i still on the hook paying for the X, which I plan to send back this weekend
  • Will I be on the hook for the total price after 14 days, since the Xs Max citizen loan was closed?

I spoke with someone from Apple over the phone, and she claims that if I do nothing (e.g. keep the Xs Max, and send back the X), everything should normalize and the citizens loan that was "closed" will remain open..

Sorry if this sounds way off, but I am completely confused by this process and I get different answers depending on who I ask (apple store, apple phone support, citizens one...)...
use credit card to purchase new phone- transfer stuff over. then just open a 1up on it.
 

Donnation

macrumors 65816
Nov 2, 2014
1,207
1,275
But if you are currently enrolled and did the upgrade and then decided to return that one, and reapply for a new loan, that would be a hard hit as well I believe.
Yes, I believe this is what he was doing which is a hard hit on his credit.
 

AndrewR23

macrumors 68040
Jun 24, 2010
3,897
1,181
This happened to me last year. This year I got my new XS, and the notch has a bleed on it. Like someone drooped ink on it.

Went to Apple, they said id have to return the XS, redo the approval etc. No one knew if it was soft or hard hit.

Wrote an email to Tim Cook. Guy called me yesterday and shipped out a brand new XS from the apple store. Order shows up as 0.00$. I just send my old XS back when this one comes.
 
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ant the ninja

macrumors 6502
Nov 21, 2012
347
156
Got my trade in kit today and it shows the order number for my returned XS max, I have a feeling this is not connected to the iUP XS I bought when I returned my XS max. Something tells me this is going to be an issue.
 

mjb59463

macrumors 6502
Jan 10, 2012
368
125
As good of a company as Apple is, Citizens One is complete trash. I hope their rumored lending partnership with Goldman materializes so Citizens can be banished into oblivion.
 

dstew201

macrumors 6502
Original poster
Jan 6, 2016
470
296
As good of a company as Apple is, Citizens One is complete trash. I hope their rumored lending partnership with Goldman materializes so Citizens can be banished into oblivion.
I agree! I discovered another hard inquiry, due to the iPhone exchange!!! WHY??? I was preapproved on 9/14 for the preorder.

Ok, I think it's finally sunk in!

  • Exchanging like for like (same specs and color) no need to reapply?
  • Exchanging for a different phone, even if its JUST a color change requires a new loan?
Soooo, I'm stuck with Gold unless I wanna go through that fun process again?!? maybe I should have bumped it to the 512GB to make it worth the hassle!!
 
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