cancel
Showing results for 
Search instead for 
Did you mean: 

Apple iPhone Upgrade Program

tag
Anonymous
Not applicable

Apple iPhone Upgrade Program

Not sure if this is the right place for this.  Does anyone have experience with iPhone Upgrade Program through Apple itself? (NOT iPhone Forever, or other installment plans for the iPhone through other major carriers, I'm talking about buying the iPhone on a 24-month installment through an Apple store).  I.E. What credit bureau(s) they pull, how easy is it to get, etc.?

Message 1 of 11
10 REPLIES 10
JR_TX
Valued Contributor

Re: Apple iPhone Upgrade Program

The Apple iPhone upgrade program is basically a 0% financing for 12-24 months through Citizens Bank, NA (dba Citizens One Bank). They pull EQ mostly and 680+ seems to be their target score. YMMV of course depending on your credit profile and what not. The app is only done in-store but you can reserve the phone online. You can upgrade every year provided you pay off the unpaid balance of your current contract before they let you get a new one. The biggest downside though (why I didn't go with it) is every time you upgrade (which for me is every year) they will do a HP on you!

I just app'd for the Blispay card with 0% financing for any purchase $199+ for 6 months. I only take a one HP hit for the life of the card (until no longer applicable). Paid for the full price of the phone without any network contract or commitment plus the phone is factory unlocked which I can use anywhere in the world!

Hope this helps OP and good luck!

Here's apple's link in detail.....

http://www.apple.com/legal/sales-support/iphoneupgrade_us/
New cc TLs : 0/6 ; 0/12 ; 0/24 | HPs EX 3 EQ 3 TU 4 | AAoA 7y10m | UTIL 1% - 4% | $300K+ Total Limits

Message 2 of 11
JR_TX
Valued Contributor

Re: Apple iPhone Upgrade Program

Forgot to mention that they will also require a CC upon activation where they can draw payments automatically every month. You can change that after you've created an account online.

Also, from what I read online (can not verify though) is that the account will show on your CR as Installment TL instead of revolving, hence, the HP every time you upgrade. So it might be beneficial to ppl without installment accts on their profile for a better credit mix.
New cc TLs : 0/6 ; 0/12 ; 0/24 | HPs EX 3 EQ 3 TU 4 | AAoA 7y10m | UTIL 1% - 4% | $300K+ Total Limits

Message 3 of 11
Anonymous
Not applicable

Re: Apple iPhone Upgrade Program

Thank you!!!  Just the info I was looking for.  I couldn't find ANYTHING on here about that (or maybe I didn't look in the right place)?  Still would love to hear from others that have had experience with it.

Message 4 of 11
Anonymous
Not applicable

Re: Apple iPhone Upgrade Program

I've done the IUP for the last two years.  For the 6S launch, I did one phone.  They pulled my Equifax (I live in Colorado) and my EQ Fico score was a 672 and I was approved.  Last September for the iPhone 7 launch, I had a 688 EQ FICO.  I did two phones, one for me and one for the wifey.  I was a little nervous that they'd pull my score multiple times since there were some issues with T-Mobile so they had to return my first IUP and re-run everything.  Then maybe a week and a half later I exchanged my iPhone 7 for a 7 Plus, they had to run everything again.  Still only 1 HP for all the transactions Smiley Very Happy

 

The first year, I heard from employees that more people than they expected were getting turned down for the IUP.  

 

There hasn't been any tradelines from the IUP showing up on any of my reports, just the HP...

 

Oz

Message 5 of 11
Anonymous
Not applicable

Re: Apple iPhone Upgrade Program


Ozix wrote:

I've done the IUP for the last two years.  For the 6S launch, I did one phone.  They pulled my Equifax (I live in Colorado) and my EQ Fico score was a 672 and I was approved.  Last September for the iPhone 7 launch, I had a 688 EQ FICO.  I did two phones, one for me and one for the wifey.  I was a little nervous that they'd pull my score multiple times since there were some issues with T-Mobile so they had to return my first IUP and re-run everything.  Then maybe a week and a half later I exchanged my iPhone 7 for a 7 Plus, they had to run everything again.  Still only 1 HP for all the transactions Smiley Very Happy

 

The first year, I heard from employees that more people than they expected were getting turned down for the IUP.  

 

There hasn't been any tradelines from the IUP showing up on any of my reports, just the HP...

 

Oz


 

 

Really?!  No tradeline on your credit report(s)?  Has anyone else had this experience?

 

Message 6 of 11
Anonymous
Not applicable

Re: Apple iPhone Upgrade Program

So I found out online the other day that I CANNOT sign up for the Apple Upgrade program unless I have an account with the major providers (Sprint, Verizon, T-Mobile, or AT&T).  I have Boost Mobile, prepaid.  Does anyone know what the requirement is for this?  Like, can I just switch to a Sprint prepaid plan and still sign up for the Apple Upgrade program?  But if I did that, doesn't Sprint have the iPhone Forever plan?  So confusing.

Message 7 of 11
Anonymous
Not applicable

Re: Apple iPhone Upgrade Program

Sprint does have the iPhone forever plan. You lease an iPhone and on your 12th payment, you're given the option to upgrade. Pretty competitive deal if you're a fan of Sprint.

Message 8 of 11
Anonymous
Not applicable

Re: Apple iPhone Upgrade Program

I know this comment is long after you posted this, but I just saw on my credit report that the upgrade program's Citizen's inquiry is a SOFT pull
Message 9 of 11
Anonymous
Not applicable

Re: Apple iPhone Upgrade Program

Ozix wrote:
I've done the IUP for the last two years. For the 6S launch, I did one phone. They pulled my Equifax (I live in Colorado) and my EQ Fico score was a 672 and I was approved. Last September for the iPhone 7 launch, I had a 688 EQ FICO. I did two phones, one for me and one for the wifey. I was a little nervous that they'd pull my score multiple times since there were some issues with T-Mobile so they had to return my first IUP and re-run everything. Then maybe a week and a half later I exchanged my iPhone 7 for a 7 Plus, they had to run everything again. Still only 1 HP for all the transactions Smiley Very Happy

The first year, I heard from employees that more people than they expected were getting turned down for the IUP.

There hasn't been any tradelines from the IUP showing up on any of my reports, just the HP...

Oz

 

 

Wait so you only had 1 HP from the initial application and didn’t get dinged for another HP when you upgraded? If that’s true I might do this. 

 

 

The HP yearly is what’s preventing me from doing this. 

Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.