Should credit checks be a thing of the past? It makes no sense how there isn't a contract to--------

Discussion in 'iPhone' started by DBZmusicboy01, Sep 28, 2015.

  1. DBZmusicboy01 macrumors 6502a

    Joined:
    Sep 30, 2011
    #1
    Sign agreeing that you are responsible if you can't make a payment. A contract that states that if you don't pay than your credit card will be automatically charged. And at most they can demand a small down payment before getting the phone. But not having to deal with credit checks and having them put a hard dent every year if you want to upgrade the phone even with an almost perfect credit it will HURT the person's score every time you want to upgrade with the program. It is not fair how all this phone contract thing works.
    The best is if you don't make the payments. Then they should just automatically put a charge on your bank account.
    Is that simple?
     
  2. stulaw11 macrumors 65816

    Joined:
    Jan 25, 2012
    #2
    If they just charge your account and you have no money then what? You have the phone and what do they do? hard to repo a phone like a car.

    Credit score is an analysis of their risk to loan you the money instead of you buying full price. Dont like the credit pull then put down the cash or go through the carrier.

    ATT Next doesn't pull my credit yearly and I pay them monthly installments on the phone. It rides the credit check from when you get service with them likely. I have no credit pull from ATT for my 6S through Next.
     
  3. DBZmusicboy01 thread starter macrumors 6502a

    Joined:
    Sep 30, 2011
    #3
    They can demand the bank to give them a charge...Kinda like forcing the person and maybe even reporting the person as a fraud. Something like that.
     
  4. Orien macrumors regular

    Orien

    Joined:
    Mar 4, 2010
    Location:
    San Francisco
    #4
    I don't think you understand how the credit borrowing industries work ;)
     
  5. AppleFan91 macrumors 65816

    AppleFan91

    Joined:
    Sep 11, 2012
    Location:
    Indy, US
    #5
    Want the phone without a credit check? Then it's full retail. Your credit shows the likelihood of you paying off your debts. It's important as Apple needs to see what risk they'd be taking lending to a customer. There is an option for no credit inquiry as I stated above though.
     
  6. Rayy42 macrumors 6502

    Rayy42

    Joined:
    Oct 7, 2014
    #6
    There should still be credit checks absolutely when dealing with high end products like iPhone's. It's a risk many lenders aren't willing to take.

    The only other thing is blacklisting the device if you don't make the payments, but carriers already do this if shut off for non-payment.

    To avoid them going down this path altogether, the credit check was born
     
  7. The-Real-Deal82 macrumors 601

    The-Real-Deal82

    Joined:
    Jan 17, 2013
    Location:
    United Kingdom
    #7
    Entering into a phone contract is no different to taking out a loan. Of course credit checks are necessary. They would loses millions if they didn't check whether or not you can pay your debts.
     
  8. bambooshots macrumors 6502a

    Joined:
    Jul 25, 2013
    #8
    The credit checks to make sure you'll have a good likelihood of paying be, the cost of the phone and not necessarily the service.
     
  9. Newtons Apple macrumors Pentium

    Newtons Apple

    Joined:
    Mar 12, 2014
    Location:
    Jacksonville, Florida
    #9
    Your credit record can affect how much you pay for home and car insurance and many other things. It is a method to separate responsible from irresponsible.
     

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