topic does financing a new iphone 6 affect credit? in Understanding FICO® Scoring

does financing a new iphone 6 affect credit?

Anonymous — Fri, 26 Jun 2015 06:34:37 GMT

I used the ATT upgrade to finance an iphone 6 plus...2 year financing for an $850 phone...chaned the rate plan...i've been doing business with ATT for eons and shopped around before doing this...never financed a phone before, no credit was pulled (maybe a soft pull if anything)...is this considered debt like a credit card? Effect on score?

Mine is at 681 according to fico discover, 695 equifax, 675 experien (may AMEX pull)

Re: does financing a new iphone 6 affect credit?

Anonymous — Fri, 26 Jun 2015 12:39:53 GMT

@Anonymous wrote:
I used the ATT upgrade to finance an iphone 6 plus...2 year financing for an $850 phone...chaned the rate plan...i've been doing business with ATT for eons and shopped around before doing this...never financed a phone before, no credit was pulled (maybe a soft pull if anything)...is this considered debt like a credit card? Effect on score?
Mine is at 681 according to fico discover, 695 equifax, 675 experien (may AMEX pull)

No effect. Doesn't report. Under new scoring models being considered payments on utilities and cell phones may be considered but they don't for now.

Re: does financing a new iphone 6 affect credit?

NRB525 — Sat, 27 Jun 2015 05:29:11 GMT

@Anonymous wrote:
@Anonymous wrote:
I used the ATT upgrade to finance an iphone 6 plus...2 year financing for an $850 phone...chaned the rate plan...i've been doing business with ATT for eons and shopped around before doing this...never financed a phone before, no credit was pulled (maybe a soft pull if anything)...is this considered debt like a credit card? Effect on score?
Mine is at 681 according to fico discover, 695 equifax, 675 experien (may AMEX pull)
No effect. Doesn't report. Under new scoring models being considered payments on utilities and cell phones may be considered but they don't for now.

Correct. I also financed my 6 through ATT, and no actual credit filing was made. They do SP your file to make sure you aren't in real credit trouble, but it's a light check. They know people will keep their phone active, and if they don't pay, ATT can brick it for you, no extra charge

Re: does financing a new iphone 6 affect credit?

disdreamin — Sat, 27 Jun 2015 17:16:41 GMT

+1, doesn't report as loan or debt. Asked about this before opting to finance, didn't want a HP for the luxury of paying over time.

Re: does financing a new iphone 6 affect credit?

Anonymous — Sun, 28 Jun 2015 22:39:48 GMT

i wish phone companies would report. that'd be sweet. they hard pull your credit for service now!