topic Re: Impact of cell company credit check in General Credit Topics

Impact of cell company credit check

red259 — Wed, 23 Apr 2014 04:54:46 GMT

So my contract at verizon has switched to month to month and I need to upgrade my phone which will require a two year contract. My understanding is that verizon will do a HP on my credit even though I have been their customer for several years at the very least. Is the inq going to impact my credit card applications coming up this summer? Is there a way to avoid the HP as an existing customer? Its really stupid and is right up there with their $30 upgrade fee. They are charging me $30 for the privilege of buying a phone from them and entering a two year contract!

Re: Impact of cell company credit check

mongstradamus — Wed, 23 Apr 2014 04:57:46 GMT

@red259 wrote:
So my contract at verizon has switched to month to month and I need to upgrade my phone which will require a two year contract. My understanding is that verizon will do a HP on my credit even though I have been their customer for several years at the very least. Is the inq going to impact my credit card applications coming up this summer? Is there a way to avoid the HP as an existing customer? Its really stupid and is right up there with their $30 upgrade fee. They are charging me $30 for the privilege of buying a phone from them and entering a two year contract!

i try to not think about how cell carriers are ripping me off , it will make me sad. If i didn't have an ancient att plan i would have dropped them an long time ago for one of those prepaid plans

Re: Impact of cell company credit check

Mailak — Wed, 23 Apr 2014 05:06:32 GMT

@red259 wrote:
So my contract at verizon has switched to month to month and I need to upgrade my phone which will require a two year contract. My understanding is that verizon will do a HP on my credit even though I have been their customer for several years at the very least. Is the inq going to impact my credit card applications coming up this summer? Is there a way to avoid the HP as an existing customer? Its really stupid and is right up there with their $30 upgrade fee. They are charging me $30 for the privilege of buying a phone from them and entering a two year contract!

It will register an an iquiry but no damage because of new account, or affect average age of accounts, etc. I'm thinking of taking an inquiry hit myself for opening an account with Charles Schwab. Probably doesn't matter as much if you don't have as many inquries but it will surely affect the score a bit.

Re: Impact of cell company credit check

red259 — Wed, 23 Apr 2014 05:11:59 GMT

@Mailak wrote:
@red259 wrote:
So my contract at verizon has switched to month to month and I need to upgrade my phone which will require a two year contract. My understanding is that verizon will do a HP on my credit even though I have been their customer for several years at the very least. Is the inq going to impact my credit card applications coming up this summer? Is there a way to avoid the HP as an existing customer? Its really stupid and is right up there with their $30 upgrade fee. They are charging me $30 for the privilege of buying a phone from them and entering a two year contract!

It will register an an iquiry but no damage because of new account, or affect average age of accounts, etc. I'm thinking of taking an inquiry hit myself for opening an account with Charles Schwab. Probably doesn't matter as much if you don't have as many inquries but it will surely affect the score a bit.

Yea, my number of inqs are getting up there this year because I went for the citi AA Exec card, although I have three inqs that will go over a year old in june and 3 inqs that will go over six months in june as well. Not sure if I will make it to aug for my next app cycle.

Re: Impact of cell company credit check

wHiTeSoL — Wed, 23 Apr 2014 07:34:51 GMT

@red259 wrote:
So my contract at verizon has switched to month to month and I need to upgrade my phone which will require a two year contract. My understanding is that verizon will do a HP on my credit even though I have been their customer for several years at the very least. Is the inq going to impact my credit card applications coming up this summer? Is there a way to avoid the HP as an existing customer? Its really stupid and is right up there with their $30 upgrade fee. They are charging me $30 for the privilege of buying a phone from them and entering a two year contract!

Don't worry, I can tell your for 100% certianty, if you just process a traditional upgrade it will not be a HP.

Re: Impact of cell company credit check

policebox — Wed, 23 Apr 2014 09:39:30 GMT

There was no hard pull from VZW when I upgraded my service last May.

Re: Impact of cell company credit check

EW800 — Thu, 24 Apr 2014 00:02:19 GMT

Hoping someone can clairify this for me.... I have been a Verizon customer for about ten years or so. Never a late payment. Are they doing a soft pull on me everytime I do do an upgrade? I have three phone lines on my account, so basically that is three upgrades every two years. I was not aware that they were doing any credit checks on me when upgrading. Hope someone can clairify. Thanks!

Re: Impact of cell company credit check

Revelate — Thu, 24 Apr 2014 00:07:56 GMT

@EW800 wrote:
Hoping someone can clairify this for me.... I have been a Verizon customer for about ten years or so. Never a late payment. Are they doing a soft pull on me everytime I do do an upgrade? I have three phone lines on my account, so basically that is three upgrades every two years. I was not aware that they were doing any credit checks on me when upgrading. Hope someone can clairify. Thanks!

They are not in my experience, nor did Sprint.

Think we're overblowing this topic substantially.

Re: Impact of cell company credit check

wHiTeSoL — Thu, 24 Apr 2014 00:59:41 GMT

@Revelate wrote:
@EW800 wrote:
Hoping someone can clairify this for me.... I have been a Verizon customer for about ten years or so. Never a late payment. Are they doing a soft pull on me everytime I do do an upgrade? I have three phone lines on my account, so basically that is three upgrades every two years. I was not aware that they were doing any credit checks on me when upgrading. Hope someone can clairify. Thanks!

They are not in my experience, nor did Sprint.

Think we're overblowing this topic substantially.

Agreed, but there is one cavat: if you try to sign up for all these new handset installment plans (NEXT, EDGE, JUMP)there may be a HP. Besides that all new lines maybe get a HP, everything else (upgrades etc) there is no pull, just internal scoring.

Soure: I am a low level executive for one of the largest telecomm companies in the US.

Re: Impact of cell company credit check

Anonymous — Thu, 24 Apr 2014 01:04:17 GMT

Have you considered prepaid such as straight talk cheaper monthly uses the same network and you can bring your own device paying $200-$300 for a phone upfront beats the price stretched over two years.

Re: Impact of cell company credit check

Revelate — Thu, 24 Apr 2014 01:04:53 GMT

@wHiTeSoL wrote:
@Revelate wrote:
@EW800 wrote:
Hoping someone can clairify this for me.... I have been a Verizon customer for about ten years or so. Never a late payment. Are they doing a soft pull on me everytime I do do an upgrade? I have three phone lines on my account, so basically that is three upgrades every two years. I was not aware that they were doing any credit checks on me when upgrading. Hope someone can clairify. Thanks!

They are not in my experience, nor did Sprint.

Think we're overblowing this topic substantially.
Agreed, but there is one cavat: if you try to sign up for all these new handset installment plans (NEXT, EDGE, JUMP)there may be a HP. Besides that all new lines maybe get a HP, everything else (upgrades etc) there is no pull, just internal scoring.

Soure: I am a low level executive for one of the largest telecomm companies in the US.

True, I think anytime you're being loaned telecom-owned equipment or there's a financing arrangement for it, then a credit check is likely to be expected; for things like service changes though it make sense nor have a number of people seen it in their experience.