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Why do they check your credit for a cell phone?

yeah. they are going to extend credit to you and not wonder if you have a bad history?

Everyone checks credit now. even for land based phones.
 
I knew it was something obvious. I just didn't really want to know the truth...that my credit right now is in the shitter from school lol.



Mom, DAD!!? lol.
 
Originally posted by: Regs
I knew it was something obvious. I just didn't really want to know the truth...that my credit right now is in the shitter from school lol.



Mom, DAD!!? lol.
Click to expand...

Then I'd go with Sprint. They tend to be the most friendly to those with "questionable" credit.
 
Originally posted by: NutBucket
Originally posted by: Regs
I knew it was something obvious. I just didn't really want to know the truth...that my credit right now is in the shitter from school lol.



Mom, DAD!!? lol.
Click to expand...

Then I'd go with Sprint. They tend to be the most friendly to those with "questionable" credit.
Click to expand...

Yep, several years ago when I barely had credit they approved me for 5 cell phones 🙂
 
Credit requirements for cell phones really aren't that strict.

For those with really trashed credit companies have plans with spending limits, or for the truly desperate pre-paid.

Generally even with poor credit a modest deposit (refundable after 12 mos) will get you whatever you want.

Viper GTS
 
Because they "give" you a $300 phone for $50-100, and rely on your monthly service fee to pay the rest of the phone off. They want to be sure you're good for it.
 
Originally posted by: Viper GTS
Credit requirements for cell phones really aren't that strict.

For those with really trashed credit companies have plans with spending limits, or for the truly desperate pre-paid.

Generally even with poor credit a modest deposit (refundable after 12 mos) will get you whatever you want.

Viper GTS
Click to expand...

I have zero credit. My report is blank. Nextel wanted like 500 bucks, verizon was like 200.
 
Originally posted by: TallBill
Originally posted by: Viper GTS
Credit requirements for cell phones really aren't that strict.

For those with really trashed credit companies have plans with spending limits, or for the truly desperate pre-paid.

Generally even with poor credit a modest deposit (refundable after 12 mos) will get you whatever you want.

Viper GTS
Click to expand...

I have zero credit. My report is blank. Nextel wanted like 500 bucks, verizon was like 200.
Click to expand...

Nextel has the highest credit requirements, period.
 
Originally posted by: NutBucket
Originally posted by: TallBill
Originally posted by: Viper GTS
Credit requirements for cell phones really aren't that strict.

For those with really trashed credit companies have plans with spending limits, or for the truly desperate pre-paid.

Generally even with poor credit a modest deposit (refundable after 12 mos) will get you whatever you want.

Viper GTS
Click to expand...

I have zero credit. My report is blank. Nextel wanted like 500 bucks, verizon was like 200.
Click to expand...

Nextel has the highest credit requirements, period.
Click to expand...

And Verizon is second-highest. (They can afford to pick and choose their customers.) Verizon deposits can run up to $1000 if you have negative credit. Generally, most creditors see negative credit as much worse than no credit.
 
Some of my friends got T Mobile, Sprint, and then one who has Verizon. The two who have t mobile and sprint say they never get good service in my area. However Verizon just set up a communications station only miles away from my house. I dont have credit, but I do have luck.
 
Originally posted by: Thegonagle
Generally, most creditors see negative credit as much worse than no credit.
Click to expand...
Umm... that's not true. Unless the credit is REALLY horrible (i.e. scores below 500 or currently in bankruptcy), no credit is always worse than bad credit.
Two reasons:
- No credit does not produce a credit score, so automated underwriting is not possible.
- No credit has a much higher likelihood of being fraud.

The reasoning is like this: with bad credit, you know that the customer is going to perform badly, so you underwrite and price accordingly. With no credit, you have no idea what the customer will do. They could make every payment, or they could default the first month. As lending is all about measured risks, not knowing the risks makes most lenders edgy.
 
Originally posted by: Vic
Originally posted by: Thegonagle
Generally, most creditors see negative credit as much worse than no credit.
Click to expand...
Umm... that's not true. Unless the credit is REALLY horrible (i.e. scores below 500 or currently in bankruptcy), no credit is always worse than bad credit.
Two reasons:
- No credit does not produce a credit score, so automated underwriting is not possible.
- No credit has a much higher likelihood of being fraud.

The reasoning is like this: with bad credit, you know that the customer is going to perform badly, so you underwrite and price accordingly. With no credit, you have no idea what the customer will do. They could make every payment, or they could default the first month. As lending is all about measured risks, not knowing the risks makes most lenders edgy.
Click to expand...

I see. That makes sense. I just figured that by the numbers, there are more good apples in the barrel than bad, so a lender might be more willing to give a "ghost" some starter credit, in hopes that they'll be good for it, rather than extend credit to a known bad apple. I guess it really depends what the credit is for, whether it's secured, and how much $$$ is being offered. (Not to mention, what type of risk the particular lender tends to specialize in.)
 
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