06-19-2011 01:56 AM
06-19-2011 03:39 AM
my experience you probably would have to go the deposit route again with sprint.
however.. cell phones dont report unless you **bleep** up, so why not just stick with a prepay? there are many different options, even with the bigger carriers..
getting a cell phone will not really help you rebuild, it will just jack you up in the end if you default.
06-20-2011 04:49 AM
06-20-2011 05:46 AM
As mentioned, cell phones don't report unless you default so it certainly doesn't help your credit.
IMO, the deposit is a way to save money, or at least that's how I read into it. After so many months of spotless payments, they'll return it to you (or at least that's how it used to be). Plus you won't know if you actually need a deposit until you apply. Also instead of applying directly with the major carriers, try a 3rd-party reseller. Your credit info could be passed to the big companies, but your odds of not paying a deposit or not getting hit with an inquiry go up.
06-20-2011 08:57 AM
You should try Boost Mobile. I belive they are on the "prepaid" side of Sprint's business. They also have a few unlimited plans that all use the Sprint Network for under $50. I have been a customer with Sprint for almost 10 years and you will have to go the deposit route due to your score. But, as someone else posted, they don't report to the credit bureaus unless you **bleep** up the account and not pay it. Best bet would be to try Boost mobile! Hope this helps
06-20-2011 12:29 PM
There aren't that many options if you want a nice phone. Pre-paid is expensive and for what I'm paying Virgin I might as well get a real phone with real service that isn't targeted to teenagers. Only downside is the initial buy in costs with the phone + deposit. The monthly costs wouldn't be much more and I'd get a lot more use out of an Android phone than what Virgin offers.
You can try to justify it, or word it however you want. But beggars can't be choosers. For whatever reason (illness, recklessmess, bad luck, the excuses are many) you find yourself in the boat many of us are in, or have been in, a sub-par credit score. I had to have an AT&T cell phone that was prepaid for 3 years. Until earlier this year, I was still using freakin T9 to text! So I feel your pain, but sometimes you got to bite the bullet and do what is the right thing to do, getting (or in your case) KEEPING a prepaid phone until you score allows for a new plan. Eliminate one more variable that coul hurt your credit in the future, but only for the interim.
If you want a good phone, find a provider who will let you put a downpayment down and get a good expensive phone you may or may not be able to afford. But if you default on THAT phone, any repair or managment you have done to your credit score could go right out the window. Not worth it just so you can keep up with the jones, IMO
Good luck with whatever you decide to do. I finally was able to qualify for a phone and it was great, but I also jumped the gun early and was frustrated like yourself.
06-21-2011 09:11 AM
I'm okay as far as finances go so paying a deposit + monthly fees wouldn't be a problem, and the possibility of defaulting is pretty remote (or I wouldn't even be considering it). I'm just mostly hoping all that money might help boost my credit, but since it looks like it won't do a thing I might just stick with what I have at least for the next 6 months and focus on rebuilding my credit through a secured card. Hopefully that'll prevent or at least lower any deposit I'll need.
Oh and I'm pretty sure I would need to pay a deposit if I got one right now. I just recently bought a car and even with about half of the purchase price being put down as a deposit I still couldn't get approved by anyone. I'm only financing about $4k! I ended up going through the dealership directly which won't help my credit one bit....but at least I've got reliable wheels getting me to work!
06-21-2011 07:37 PM
Yeah unfortunately the cell phone will do nothing to boost your credit score.. sucks but thats how it goes.
06-22-2011 10:07 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.