Other iPhone Upgrade Program Users - Did you ever have issues with your credit score?

[MathersMahmood]

Hello lovely people!

I have been on the upgrade program since it came out in the UK with the iPhone 7 series.

I get the new phone every year and if I sell the phone I wipe off the loan so I never miss a payment or have outstanding debt on my accounts.

For those of us who have used the program did you ever have issues with mortgages or other types of finance while having the iUP?

I called Barclays in the UK and they confirmed that each time you do an iUP its a HARD check and never a soft check as they do not handle the trade in etc they just provide you with the loan. They class each iUP regardless of an upgrade as a new loan application.

I am thinking this year that I pay the phone outright and just slap on a case and screen protector on the phone and then trade it in close to the next release.

Interested to know your thoughts.

 

[sjperformance]

I've had AUP for 5 years now. No issues since day 1.

 

[jtrue28]

No affects on credit, whatsoever.

This year will be fun though. Next payment is due on 15th. Hopefully they allow us to sign up early, like in previous years, and put a "hold" on the current loans. Otherwise we'll be making our 13th payment on the 14s, as well as payment #1 on 15s.

Although as I say all of that, I think they end up doing refunds of that 13th payment.

 

[cthompson94]

I have done the iUP twice so far not counting this year. I haven't noticed any credit issues

 

[slippery-pete]

No issues. Never had a hard pull on my credit.

 

[Djones96]

Not really pertaining to the post, but if they do a hard pull, I'm wondering what the average/typical credit score to get approved would have to be. I am finally hopping on the upgrade program this year, and my credit score just dropped quite a bit because a card that I am an approved user on, the usage went up on it, tanking my score. I was really not expecting it, and am hoping that I'm still approved.

 

[slippery-pete]

Not really pertaining to the post, but if they do a hard pull, I'm wondering what the average/typical credit score to get approved would have to be. I am finally hopping on the upgrade program this year, and my credit score just dropped quite a bit because a card that I am an approved user on, the usage went up on it, tanking my score. I was really not expecting it, and am hoping that I'm still approved.

No expert, but I assume if score is in 600's you'll be fine.

 

[Djones96]

No expert, but I assume if score is in 600's you'll be fine.

I'm not proud of it, but high 600's. Thank you for the reply.

 

[Ameer_1]

I have 800+ but for those who are on the upgrade program how much does it drop?

 

[sjperformance]

I have 800+ but for those who are on the upgrade program how much does it drop?

I never had a drop with them. When I joined years ago I was at 680 (5 years after before I did a bankruptcy due to housing crash in 2007).

Now I have a 812. I'm good.

 

[sjperformance]

No affects on credit, whatsoever.

This year will be fun though. Next payment is due on 15th. Hopefully they allow us to sign up early, like in previous years, and put a "hold" on the current loans. Otherwise we'll be making our 13th payment on the 14s, as well as payment #1 on 15s.

Although as I say all of that, I think they end up doing refunds of that 13th payment.

Exactly what I was thinking...what's gonna happen on the 15th? I believe they'll put a hold.

 

[ctbaz]

I have had IUP since the x and they have only done a hard pull the fist time. Every other time they haven't.

 

[newyorksole]

I only had a hard pull the first time I signed up. didn’t have any hard pulls when upgrading later.

 

[ant the ninja]

I only had a hard pull the first time I did it, never after. I’ve been on it since the first year it started

 

[beach bum]

Hello lovely people!

I have been on the upgrade program since it came out in the UK with the iPhone 7 series.

I get the new phone every year and if I sell the phone I wipe off the loan so I never miss a payment or have outstanding debt on my accounts.

For those of us who have used the program did you ever have issues with mortgages or other types of finance while having the iUP?

I called Barclays in the UK and they confirmed that each time you do an iUP its a HARD check and never a soft check as they do not handle the trade in etc they just provide you with the loan. They class each iUP regardless of an upgrade as a new loan application.

I am thinking this year that I pay the phone outright and just slap on a case and screen protector on the phone and then trade it in close to the next release.

Interested to know your thoughts.

Here in the US, the IUP is through Citizens and only when first signing up will they do a hard credit check and if you continue upgrading each year, it is a soft pull.

Your situation in the UK through Barclays seems to be completely different than it is here in the US so hopefully you will get some responses from others in your area. If you are concerned about the HARD pulls, it might be better to just purchase outright.

 

[crypthick]

can anyone tell me at what point the check is done please?

I live a few hours away from an Apple Store, have had the upgrade programme before, but not sure if things have changed?

Is the credit check still done in store or is it pre approved when doing a preorder online?Thanks for the help in advance ☺️

 

[MathersMahmood]

can anyone tell me at what point the check is done please?

I live a few hours away from an Apple Store, have had the upgrade programme before, but not sure if things have changed?

Is the credit check still done in store or is it pre approved when doing a preorder online?Thanks for the help in advance ☺️

I think the preapprove is a soft check just to show you that you may not be declined. But the hard check will be done in store.

 

[stradders]

I have used the Barclays program for 4 years. They have always done a hard search each year which shows on Experian and other agencies for up to 12 months. Have never had any issues with financing but would probably avoid if I were going for a Mortgage ( Life Impacting) to keep score as high as possible - if you can. Each search can lower your score marginally but generally, Its when you have multiple application searches within 12 months that it may have a detrimental effect. There again, by having credit and being able to demonstrate your "good" payment history is a positive. Money Saving Expert have a free Credit checker called Credit club that uses Experian but they will also give you give you an indicative score based on your income and outgoings etc which is really good.