topic Re: Apple iPhone Upgrade Program in SmorgasBoard

Apple iPhone Upgrade Program

Anonymous — Thu, 23 Feb 2017 17:59:01 GMT

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.?

Re: Apple iPhone Upgrade Program

JR_TX — Thu, 23 Feb 2017 21:52:56 GMT

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 I only take a one HP hit for the life of the card (until no longer applicable).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/

Re: Apple iPhone Upgrade Program

JR_TX — Thu, 23 Feb 2017 22:07:00 GMT

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.

Re: Apple iPhone Upgrade Program

Anonymous — Thu, 23 Feb 2017 22:27:28 GMT

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.

Re: Apple iPhone Upgrade Program

Anonymous — Fri, 24 Feb 2017 02:37:45 GMT

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

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...

Re: Apple iPhone Upgrade Program

Anonymous — Fri, 24 Feb 2017 16:22:21 GMT

Ozix wrote:

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...

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

Re: Apple iPhone Upgrade Program

Anonymous — Thu, 23 Mar 2017 13:56:17 GMT

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.

Re: Apple iPhone Upgrade Program

Anonymous — Thu, 23 Mar 2017 21:20:52 GMT

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.

Re: Apple iPhone Upgrade Program

Anonymous — Fri, 15 Sep 2017 05:03:22 GMT

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

Re: Apple iPhone Upgrade Program

Anonymous — Fri, 29 Sep 2017 18:37:35 GMT

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

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.

Re: Apple iPhone Upgrade Program

jlitnns — Fri, 26 Jan 2018 22:30:10 GMT

wrote:
@Anonymous 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

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.

Reviving this:

So I just pulled my report from EQ and Citizen's HP'd me in 2016 for my first IUP and HP'd me in Sep 2017 when I upgraded to the 8+. So it is a HP each time you upgrade. When I noticed that I'm done doing that program, no need for it when I can just pay cash or use PayPal on Apple's website.