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iPhone Upgrade Program Causing Headaches for Some Launch Day Customers
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What a nightmare!! my brother, dad and myself all tried and were ineligible...does not make any sense especially my dad getting turned down. when I called citizen all they could tell me was that the information on my application did not match exactly what they had on file therefor I was not eligible after One attempt!? really!?. Soooo wait 30-days, try again get another hard credit check then get denied on that fact? No thanks. Way to make what seemed to be a great deal a frustrating experience.
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724 is a "C" Grade on every chart shown here.
http://bit.ly/1LHo83p
Including TransUnion...
http://bit.ly/1KMU1Ub
I get you're angle of thinking but we're talking about a $1000 piece of electronics here. Capital One will even finance that.
As for a house, yes it's based on the risk but there are a number of other factors.. Annual income, credit history/score, amount in savings and/or retirement vehicles as well as debt to income ratio. Without all of those in tact, now-a-days, a person won't get financed.
Top tier Credit/Charge cards..
Those require the highest of credit scores because those scores are indicative of your total financial package. A long history of excellent repayments, strong responsibility of managing your level of income, low utilization rates with credit cards already in possession. And that's because those credit/charge cards will give the most freedom of purchasing power and require the most sound and responsible.
So whichever bank is not allowing people with high 600s and beyond a line of credit seems a bit unreasonable to me. That's, of course, if everything else is in tact for a normal model to be approved for a line of credit.
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That is the key point of confusion.
Citizens One is not financing an iPhone or piece of electronics.
All they are reviewing is an open line of credit.
A "C" Grade credit score of 724 probably does not meet their guidelines.
http://bit.ly/1LHo83p
It's actually was a hard inquiry and no every year will not require it since you're already part of the program
yup, anything above 700 is awesome, everything else is bonus. Mostly other than the house loan, anything above 700 (let us say 760) does not matter, you will get the better rate already.
They guys who says 724, may be he is referring to another score; there are many different scores out there, you need to check FICO score thats all. 700 plus FICO score is just will get you the best rate. this is after all zero percent lease.
t-mobile iphone also fine, I think there was difference between iPhone 6 and 6S; Looks like ATT iPhone might NOT listed as CDMA compatible (when unlocked i meant), not sure why is that, but iPhone 6 Had all the bands. 6S has additional bands also (more than iPhone 6 I meant).
http://www.apple.com/iphone/LTE/
There was a lot of unknowns - at 8:30am I discovered that if you answer the apple Rep: "Are you a business customer of the store" and they identify you with your business name (which has no value other than tracking for a purchase like this but in other cases qualifies me for my almost-store-wide 3% discount) then the upgrade plan from apple financing is not a choice on the purchase screen. If you go back and decline that information and buy it as "just a person" then all went well. It was an annoying experience but easier than some here are reporting. I also found out that "Charge Cards" are not acceptable forms of payment, so I could not use my corporate amex card.
I see crystal clear of the difference as I mentioned in my last sentence "line of credit."
So now I wonder are they being extended a revolving credit line since you keep saying line of credit?
If it's an installment loan then its something different. If it's an installment, it certainly is for a piece of electronics and only for that.
But from what you're saying, it seems its a revolving type of account. Are they being issued a card of some sort? Is it a PLOC? If it's not the two, chances are GREAT that it's an installment loan.
***Apple stipulates that the iPhone Upgrade Program is available to qualified customers only with a valid U.S. personal credit card, since the program is based on a 24-month installment loan with a 0% APR from Citizens Bank. For customers with good credit, most did not expect this requirement to be an issue. But, as launch day unfolds, some customers have had frustrating experiences.***
As if... someone would go online and admit they have a negative credit to their names while trying to buy something small as a phone... Online everybody is cool, has enough money + a sexy girlfriend!
Offline and in reality.. It's just a little different.
Most of us probably could benefit more of yearly trade-in program on their girlfriends, not on their iPhones. Oo wait, something called love right?
Offline and in reality.. It's just a little different.
Most of us probably could benefit more of yearly trade-in program on their girlfriends, not on their iPhones. Oo wait, something called love right?
Just spoke with Citizen again and was informed that if you mess up your information even on your first attempt it WILL lock you out for 30-days. The fact that if you just have a minor typo there is no other resources to reach out to, to verify the information is crazy to me. Also the kicker is I was also told that it should only lock you out after 3 attempts....But I only tried once...they can see that one but unfortunately even if is is a mess up is on Citizens end there is no way to reverse it at this time. Moral of the story type very slowly...
Reading through the terms and conditions it looks like it might be a hard inquiry each year
"Exercising your Upgrade Option. To exercise your Upgrade Option you must:
Trade-in your Financed iPhone in good physical and operational condition, as set forth below, at a U.S. Apple Store; and
Enroll in a new iPhone Upgrade Program which includes applying for and entering into a new 24-month 0% APR installment loan (“New Installment Loan”) with Bank."
Also it clearly states it is an installment loan and not a revolving line of credit.
http://www.apple.com/legal/sales-support/iphoneupgrade_us/
True, but if you want an unlocked iPhone 6s/+ NOW, the Apple upgrade plan is the way to go, AFAIK.
That is not always true. There are people that use credit card even if they have cash as in my case. I just don't like carrying too much cash.
Do you have to trade the phone at the end of the 12 month cycle ... ? is there an option to just buy the phone at the end of 12 months ? I can't find that answer yet ?
Yes and No, the FULL Priced iPhone 6S are unlocked (aka whitelisted), Yes I hear you; the model which marked as unlocked not available yet, mostly available sometime nov/jan. Yes, I have both iPhone 6 are unlocked models and waited for it to be available last year.
Apple should unlock all the iPhones period (because you are tied with ETF, Credit History or leasing, one way or other), it is BS still the phones are locked to network (other than Verizon because of the FCC rule because of the spectrum auction).
Apple should unlock all the iPhones period (because you are tied with ETF, Credit History or leasing, one way or other), it is BS still the phones are locked to network (other than Verizon because of the FCC rule because of the spectrum auction).
You don't have to trade it in. Pay the balance and you can keep the iPhone. This the same as the carriers' installment plan, but the thing I like about the Apple Upgrade Plan is that, the iPhone is UNLOCKED (per Schiller). On the carriers' plan, you have to request for UNLOCK code after the the end of the contract.
Or even what happens if you don't trade in at 12 and keep paying until the end. (24 months) Do you get to keep your phone? It never states anything about that on the contract.
If you use at&t next or a comparable program you're dependent on ****** network providers and your mobile is sim locked. You can't really get more dependent on Apple as you're going to buy their stuff anyway and - sanity provided - wouldn't switch to something else anyway...
