topic Re: Apple iPhone Upgrade Program Reporting Question in Credit Cards

Apple iPhone Upgrade Program Reporting Question

Anonymous — Thu, 05 Jan 2017 11:31:09 GMT

Sorry if this is in the wrong area-didn't know where to post.

Does the iPhone upgrade Program from Apple report as an installment loan? If so will this take care of FICO telling me I don't have any recent non mortgage loans?
Also-they pull TU for this right? (If anyone knows)
Thanks

Re: Apple iPhone Upgrade Program Reporting Question

Noctilum — Thu, 05 Jan 2017 16:21:33 GMT

I am not sure if it reports that way but the fine print does state that it is an installment loan:

Available to qualified customers with a credit check and eligible U.S. credit card. Requires a 24-month installment loan with a 0% APR from Citizens Bank, N.A. (subject to any interest, fees, or other costs payable to the issuer of the credit card), purchase of AppleCare+, and iPhone activation with one of these national carriers: AT&T, Sprint, or Verizon. Activation on T-Mobile available in the Apple Store. Sales tax and any applicable fees due at time of purchase. Full terms apply. See terms at www.apple.com/legal/sales-support/iphoneupgrade_us/.

Re: Apple iPhone Upgrade Program Reporting Question

Discover2016 — Thu, 05 Jan 2017 16:28:03 GMT

From what I have read from people that have had the iPhone upgrade program, it doesn't report.

Re: Apple iPhone Upgrade Program Reporting Question

Anonymous — Thu, 05 Jan 2017 17:57:19 GMT

I don't believe it reports....

Re: Apple iPhone Upgrade Program Reporting Question

CreditInspired — Thu, 05 Jan 2017 18:04:31 GMT

OP,

It doesn't report; however, if you miss a payment, that will report!

Re: Apple iPhone Upgrade Program Reporting Question

Random_idiot — Thu, 05 Jan 2017 18:12:53 GMT

No. But if you default on payments, they send it to a collections agency that will report it. (same with any utility type)

Re: Apple iPhone Upgrade Program Reporting Question

Anonymous — Thu, 05 Jan 2017 18:47:13 GMT

Ok, thanks all. That sucks. Was thinking I could kill 2 birds with one stone.