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Is a credit check required for the new iPhone Upgrade Program?
- Thread starter WineBeer
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It does say at the bottom in the fine print "Available to qualified customers only..." So I would assume so, as with the other financing programs.
The question is why wouldn't a credit check be required? It is a credit agreement.
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What I'm curious about is whether there is an interest rate attached to this plan. I know we all assume there isn't because that's how all the carrier plans work, but it wasn't mentioned one way or another in either the keynote or on the website.
That's simple to figure out on your own.
Simply take the monthly payment and times it by 24 (the amount of months you will be paying)... does the total equal the cost of a contract free iPhone + $129 for Apple Care?
If so then there's no interest rate...
I spoke with someone from Apple yesterday and she told me something I am having a major problem believing. She said that it's not really a credit check like a normal one. You make an appointment (I don't remember if this is when you pick up the phone or not) with the credit or debit card you plan to use. They check to make sure that you have enough funds on that card to pay 3 installments. If you do, you are fine. That's it. I'm going to call today and speak with someone else because again I'm not believing this.
Could just be a "soft" credit check more like in-house financing. And if you don't pay, Bruiser comes by your house and you do pay...with your kneecaps.
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I talked to Apple support today and they told me "The iPhone upgrade program is through the Citizens One financing company. A credit check will be done and approval for the program will be based upon your credit score and history."
I just spoke with another person, who did say what you did. However, she also said that payment can be with a credit card only, and not a debit card. She didn't know why that was, but it was the case. Guess I'm sticking with the Next plan, which is what I was going to do anyways.
Could you get back on with them and ask them to elaborate on the type of card? When they say 'credit card', do they mean one that is attached to your name with a payment processor (read: Visa, Mastercard, etc.)? Because most bank-issued cards qualify for that, and are used as credit cards.
BL.
Nit picky but it says nothing about a credit check. It says you need a credit card.
I can sure tell you Sprint will check about everything under the sun,I was with them 20 years with never missing a payment,left for one year and when I returned it took an hour and a half to get approved again. Even had to speak to some lady in Kansas Sprints head quarters and answer a bunch of questions.
I have T-Mobile EPP and they have the same fine print (i.e. qualified customer only). I got approved but NEVER see a hard pull on my credit report. I don't know how T-Mobile do it, but do you think the Apple Plan will do the same?
I just don't want to see a hard pull on my credit report...
I just don't want to see a hard pull on my credit report...
The reason i think Sprint was so nit picking careful about me was,i was walking out the door with the iPhone6 and not paying at that time a cent.
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Makes you wonder how many people are rushing off to fill out loan applications to Discover or Capital One to get a secured card right about now..
BL.
Perhaps it depended on your payment history with T-Mobile? Since this is the first with Apple, I can't see them basing it off anything except credit.
I am not sure. I moved to T-Mobile from AT&T last year and got the EPP back then. I did not have a payment history with T-Mobile prior to that. Afterwards, I did another EPP for iPhone 6 and same thing: no hard pull on my credit report.
Interestingly, during the ordering process, I was presented with a series of questions, similar to when you check your own credit report or when you apply for a credit card. I.e. where were you in 19xx, did you ever live in this address, etc.
Interestingly, during the ordering process, I was presented with a series of questions, similar to when you check your own credit report or when you apply for a credit card. I.e. where were you in 19xx, did you ever live in this address, etc.
I would think it's the same process as opening a credit card. This is a line of credit they are granting you. It's probably a traditional credit inquiry as all credit cards do.
In 1986 I got unhappy with how Master Card was treating me. I was at a Sears store that weekend,and noticed a table asking people to make an application for a new credit card from a brand new company called Discover.
I filled it out and became one of the first group of around 2000 other people that became the founding members of Discover Card.
I have been a member since 1986. Today i could not give a hoot what any of the three credit reporting services think of my credit rating.
I filled it out and became one of the first group of around 2000 other people that became the founding members of Discover Card.
I have been a member since 1986. Today i could not give a hoot what any of the three credit reporting services think of my credit rating.
They're going to a do a credit check -- I'd be shocked if they didn't.
I'm a little surprised they do not have the ability to do this online. I can imagine that more than a few people will be declined when they arrive for their appointment and will be severely disappointed/irate.
I'm a little surprised they do not have the ability to do this online. I can imagine that more than a few people will be declined when they arrive for their appointment and will be severely disappointed/irate.
Exactly. They already have a partnership with citizens for student purchasing. It's all done online and then when you're approved, they give you an approved amount that you can spend up to. I guess this time it's different because it's a set amount? No clue.
Since my credit history isn't perfect (stupid college spending mistakes!) I wondered about the credit check. The Apple rep I spoke with assured me that it is a basic credit check, that there's no "set" credit score for approval, and that yes, you do need a credit card and not a debit card.
I assume that unless your credit is completely horrible, you'll be approved. It's similar to Verizon's Edge program--as long as you haven't had your service suspended in the last six months, you're approved.
I assume that unless your credit is completely horrible, you'll be approved. It's similar to Verizon's Edge program--as long as you haven't had your service suspended in the last six months, you're approved.