Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

bchamorro

macrumors regular
Original poster
Dec 31, 2007
161
0
I tried getting an iPhone 16gb online today and I wasn't able to because of my lack of credit (I'm only 21). I need to make the in store deposit of $500.

So... I have to go to the AT&T store with $800???

$500 deposit + $300 for 16gb iPhone?


this is ridiculous:( :(
 

eplchamps0304

macrumors 6502a
Jan 31, 2008
991
0
I tried getting an iPhone 16gb online today and I wasn't able to because of my lack of credit (I'm only 21). I need to make the in store deposit of $500.

So... I have to go to the AT&T store with $800???

$500 deposit + $300 for 16gb iPhone?


this is ridiculous:( :(

I would consider it foolish to pay that deposit. It makes no sense why they would demand such a high deposit. It should be illegal.
 

motoracer1486

macrumors 6502a
Sep 26, 2006
519
4
I tried getting an iPhone 16gb online today and I wasn't able to because of my lack of credit (I'm only 21). I need to make the in store deposit of $500.

So... I have to go to the AT&T store with $800???

$500 deposit + $300 for 16gb iPhone?


this is ridiculous:( :(

Three options:
1. Pay the deposit
2. Get a cosigner (as was previously mentioned)
3. Build credit, get a prepaid phone, and get an iPhone when you have good enough credit so you don't have to pay the deposit.
 

bchamorro

macrumors regular
Original poster
Dec 31, 2007
161
0
I refuse to cosign.

By the way, do I have to pay the deposit up front? Or will it appear on my next monthly bill?
 

NeoMayhem

macrumors 6502a
Aug 22, 2003
916
1
I tried getting an iPhone 16gb online today and I wasn't able to because of my lack of credit (I'm only 21). I need to make the in store deposit of $500.

So... I have to go to the AT&T store with $800???

$500 deposit + $300 for 16gb iPhone?


this is ridiculous:( :(

You sure you dont have something bad on your credit report? I got a cell contract shortly after I turned 18 and there was no deposit requirement.
 

JATF

macrumors newbie
Feb 23, 2009
17
0
yeppers, 300+tax+500 deposit plus they bill you a month in advance so you'll have to pay a $100+ bill a few days latter. oh and the att reps i talked to said they don't offer cosigning.

oh and i agree that the $500 deposit should be illegal because thats how much the phone costs unsubsidized. but since you can only buy it subsidized you need credit. it makes my head spin trying to understand the logic of paying a deposit, that you wont get back for a year, that equalls the value of the phone (or more with the 8gb) plus $200-$300. really should be a law against it
 

Vandam500

macrumors 68000
Sep 29, 2008
1,843
104
You sure you dont have something bad on your credit report? I got a cell contract shortly after I turned 18 and there was no deposit requirement.

Same here. I got mines when I was 20 and have little credit but it's perfect credit (as in I haven't passed up a pay date).

Rofl, I'm still 20:) March 17 can't come any sooner
 

Knowlege Bomb

macrumors G4
Feb 14, 2008
10,191
8,827
US
That's crap.

I cosigned for a friend's phone line a couple years back. Maybe they changed their policies...
 

AlecMyrddyn

macrumors 6502
Dec 5, 2008
271
0
Southern Maine
You sure you dont have something bad on your credit report? I got a cell contract shortly after I turned 18 and there was no deposit requirement.

Have you seen the economy in the past year? Lots of companies are in real trouble from giving credit too freely. In response, lots of companies are now not giving credit. Sure it's possible the OP has a bad credit score. But look at the current state of the economy too.
 

misterpasta

macrumors member
Apr 24, 2007
50
0
Credit Crunch

You unfortunately have no credit history. ATT is at risk as you will have a device that will cost nearly $100/month and the potential of more if you go over your minutes. We are in a world-wide credit crunch with people defaulting on loans daily.

You're just in the wrong place at the wrong time in history.
 

bchamorro

macrumors regular
Original poster
Dec 31, 2007
161
0
You unfortunately have no credit history. ATT is at risk as you will have a device that will cost nearly $100/month and the potential of more if you go over your minutes. We are in a world-wide credit crunch with people defaulting on loans daily.

You're just in the wrong place at the wrong time in history.

You nailed it. This is what is happening.
 

eplchamps0304

macrumors 6502a
Jan 31, 2008
991
0
You unfortunately have no credit history. ATT is at risk as you will have a device that will cost nearly $100/month and the potential of more if you go over your minutes. We are in a world-wide credit crunch with people defaulting on loans daily.

You're just in the wrong place at the wrong time in history.

They have been doing this for years, before the credit crunch hit.
 

JATF

macrumors newbie
Feb 23, 2009
17
0
You unfortunately have no credit history. ATT is at risk as you will have a device that will cost nearly $100/month and the potential of more if you go over your minutes. We are in a world-wide credit crunch with people defaulting on loans daily.

You're just in the wrong place at the wrong time in history.

i understand needing credit or a deposit for a subsidized phone but when the deposit is 2.5x the amount they are subsidising the phone and they expect you to pay a $175 etf, that almost covers the subsidy, if you default, somethings wrong.and this idea that i need a contract or credit for cell phone service is bogus. i don't need it for cable, internet, or home phone service. but thats just my opinion and i did pay that $500 deposit myself. so im a little hypocritical.
 

Applejuiced

macrumors Westmere
Apr 16, 2008
40,672
6,533
At the iPhone hacks section.
The deposit has nothing to do with what cellphone you pick. It has to do with AT&T's service. And that happens with every utility or cellphone company out there.
In your past if you decided not to be responsible with your bill obligations then AT&T doesnt want to get stuck with someone who dont pay their debt. Therefore incase you dont pay they'll take it out of the deposit you put down. Its kinda like an insurance policy for them.
You can either have someone else open an account for you or get a prepaid account thru AT&T and buy an iPhone thru ebay.
Or pay up the deposit.
 

synagence

macrumors 6502a
Jul 23, 2008
879
0
They are covering the risk that you run off with the phone and run up a huge bill and then don't pay...

You get the money back after a few months ... its just in lieu of having no credit ... get someone to co-sign ... much easier
 

markgamber

macrumors 6502
Jul 2, 2005
451
0
Redneck, PA
I tried getting an iPhone 16gb online today and I wasn't able to because of my lack of credit (I'm only 21). I need to make the in store deposit of $500.

So... I have to go to the AT&T store with $800???

$500 deposit + $300 for 16gb iPhone?


this is ridiculous:( :(

Perhaps you need to be a little more realistic. Like it or not this is the way it worked in good times and today the market hit a low not seen since 1997. Maybe you should start off with a minimal phone and plan....you know, something you can actually afford....and work your way up over time.
 

Hutch1

macrumors 6502a
Jul 24, 2008
677
20
Guelph, ON
Perhaps you need to be a little more realistic. Like it or not this is the way it worked in good times and today the market hit a low not seen since 1997. Maybe you should start off with a minimal phone and plan....you know, something you can actually afford....and work your way up over time.


+1

Just get a cheap phone and pay as you go for a 6 or so months, pay you bill and pay it on time. Then get an iPhone, maybe the new one will be out with 1TB, MMS, video camera, 50MP camera, 1080i and a keyboard (the last part is a joke). Or maybe the iPhone killer the Palm Pre will be out by then and you'll have credit and won't be stuck in a two year contract.
 

nfl46

macrumors G3
Oct 5, 2008
8,323
8,606
I had a $0 deposit. I got AT&T under my name at the age 20. I'm 21 now. But, I guess the reason why mines was $0 is because I have credit. (Car note, Off-Campus apartment, etc.)

My friend, who checked with me during the time had a $500 deposit. She decided to stay with Sprint, but I joined AT&T, though.
 

nfl46

macrumors G3
Oct 5, 2008
8,323
8,606
Oh, by the way, I wouldn't pay the $500 deposit, unless you're rich and don't mind spending $800 for iPhone.
 

locifcan

macrumors newbie
Nov 6, 2008
17
0
dont buy an $ 800 iPhone. To get a cosigner is a much intellectual way if you really want an iPhone.
 

ppc750fx

macrumors 65816
Aug 20, 2008
1,308
4
I would consider it foolish to pay that deposit. It makes no sense why they would demand such a high deposit. It should be illegal.

Why should it be illegal? They're allowed to charge whatever they like for the phone, either in the form of a sticker price or a deposit. If you don't like it, nobody's forcing you to buy the phone, or even to use AT&T.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.