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Thread: Does Verizon require a credit check?

  1. #1
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    Does Verizon require a credit check?

    Hello,

    I am planning on getting the new iPhone, and was wondering if Verizon requires a credit check to buy the iPhone?

    I have a salaried job but do not have credit at the moment since I use debit and checking account. I know I have to start building up my credit, but until then, was wondering if Verizon does a credit check and you need good credit to get an iPhone?

    I really hope I do not have to pay some large deposit just to get the phone...

  2. #2
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    Yes, a credit check is required. Nobody can say what deposit you may or may not be required to pay until you apply for service. Keep in mind that if the deposit is higher than you can afford, you can back out of the setup process.
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  3. #3
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    You might have enough credit to get a phone with little or no deposit.

    I got a phone with AT&T when I was 18 (had no credit, no credit card) and had to pay a $0 deposit.

    My friend did the same, his deposit was $150.

    You get your deposit back in 1 year of good payment history IIRC.
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    Verizon's deposit requirements are either zero, $125, or $400 per line depending on the credit check. Reportedly, people with no established credit aren't necessarily going into the $400 class. Mostly they're looking for previous bad accounts concerning phone service or other utilities.

  5. #5
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    I have seen a friend of mine his deposit was 1000 lol i was like wow....


    My suggestion to buy your credit is, apply for a credit card, and buy stuff on it and pay it off..

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    Ask and see if you are eligible for a corporate discount. With my employer, I had no credit check and no activation charges.

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    Quote Originally Posted by sven_kirk View Post
    Ask and see if you are eligible for a corporate discount. With my employer, I had no credit check and no activation charges.
    Hmmm, in the end, are you the one paying the bill or is your company paying it? Thanks.

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    Thank you everyone.

    I was able to get it without any deposit!

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    I'm the one paying for it. Verizon just wanted a copy of my business card and that was it.

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    Quote Originally Posted by jpm24 View Post
    Thank you everyone.

    I was able to get it without any deposit!
    Good to hear.

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    Despoit with a good credit score?

    I just tried to purchase a mifi data hotspot from Verizon. They want a $400 despot which has me completely confused. My credit is 765- Grade A, and I have never been asked to pay a deposit in my wife. The people in the credit department had to fat finger or do something wrong, and they are not willing to speak with the applicant which has me completely stuck. Sure I could fork out the $400 deposit but that is just ridiculous. Very frustrating.

  12. #12
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    Quote Originally Posted by 1720a519 View Post
    I just tried to purchase a mifi data hotspot from Verizon. They want a $400 despot which has me completely confused. My credit is 765- Grade A, and I have never been asked to pay a deposit in my wife. The people in the credit department had to fat finger or do something wrong, and they are not willing to speak with the applicant which has me completely stuck. Sure I could fork out the $400 deposit but that is just ridiculous. Very frustrating.
    If you're blaming human error, try doing it online yourself.

    Any chance you stiffed VZW or one of its predecessors in the past?

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    Just spoke with a supervisor, they verified my SSN is accurate and everything was submitted properly. The conversation was not very productive as he does not know the details why, the credit decision makes are locked away somewhere. I just don't understand how someone with top tier credit can be asked to pay $400 deposit, which they keep for a year. All he could say was based on whatever criteria and formula they use, this is what is required of me. Good question about sitffing them, but I definitely haven't stiffed them or anyone else- I wouldn't have credit of 765 if I did that.

  14. #14
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    I suggest you contact the credit agencies that were used to determine your deposit. The Verizon rep should be able to confirm that much. Have you ever had an outstanding/unpaid balance from another cellular phone company? I am not questioning your credit-worthiness, just trying to offer some advice.

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    You should get a Notice Of Adverse Action in the mail, which says which credit reporting agency(s) Verizon checked and possibly some general reasons they saw and decided not to allow a zero deposit. For legal reasons they don't talk about credit decisions over the phone. It is possible that you have recently acquired bad credit due to a reporting mistake or identity theft.

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