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Thread: Credit required for WindTab+

  1. #1
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    Credit required for WindTab+

    So I've been looking at getting a new phone this September and I've been looking between Wind Mobile's Super Smart Plan on the Nexus S or one of Koodo's new Canada-wide plans. Pretty much the deal breaker for me is which ever I will be able to get.

    I don't have a very extensive credit history, I got my first ever credit card last October/November and my second one sometime in February. I haven't ever missed a payment or carried a balance on either card so I can imagine I have alright credit.

    I've heard about some younger people without a long credit history not being able to get the WindTab+, so what is known about the credit requirements for this new tab? I'd prefer to go with Wind, but if I can't get on their tab I think I would have to go to Koodo.
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  2. #2
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    I've you've never carried a balance, then that's not helping your credit. It's not hurting it, but it's not helping it.

    To build up credit, you need to take a loan, and pay it back over time, with interest.
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  3. #3
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    Quote Originally Posted by canadiancow View Post
    I've you've never carried a balance, then that's not helping your credit. It's not hurting it, but it's not helping it.

    To build up credit, you need to take a loan, and pay it back over time, with interest.
    Are you sure about that? I've always heard that using your credit card and paying it off at the end of the month in full is the best way to build credit, showing that you pay off what you owe.

    But back to the original question, with credit like mine would I be able to get WindTab+?

  4. #4
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    Quote Originally Posted by ThunderRodrigez View Post
    Are you sure about that? I've always heard that using your credit card and paying it off at the end of the month in full is the best way to build credit, showing that you pay off what you owe.

    But back to the original question, with credit like mine would I be able to get WindTab+?
    I don't know the answer to your original question

    But yes, I'm sure. If you carry a balance and pay it off over time, you're showing that you can take an actual loan (i.e. money you don't have), and pay it off. If you pay it off every month, all you're showing is that you know how to use a debit card.

  5. #5
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    What you can do is pay of all of it except of $0.01. Then pay that off the next month. Or pay off most of it such that interest on what's left over becomes negligible the next month.

    Or at least, that was what I was told.

  6. #6
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    Quote Originally Posted by rtiangha View Post
    What you can do is pay of all of it except of $0.01. Then pay that off the next month. Or pay off most of it such that interest on what's left over becomes negligible the next month.

    Or at least, that was what I was told.
    That's a REALLY bad idea, as you pay interest on your purchases in the following month. You only get a grace period if there is no balance on the card.

    Using your card regularly and carrying no balance is a good way to build credit, especially if you have a card issued by a bank. It shows the bank that you are a good credit risk and they are more likely to give you a loan should you ask for one. If you have a card issued by a company like Capitol One then use it until your bank will give you one, then cut up the Capitol One card ASAP.

  7. #7
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    Quote Originally Posted by rtiangha View Post
    What you can do is pay of all of it except of $0.01. Then pay that off the next month. Or pay off most of it such that interest on what's left over becomes negligible the next month.

    Or at least, that was what I was told.
    Im pretty sure that hurts your interest if you leave unpaid balance on it. Just by paying your credit card in the full amount every month you are repaying a loan for that month. Pay the minimum balance and I am pretty sure it hurts your credit rating.
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  8. #8
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    It is more important to not miss payments than anything else.

    Credit checks, missed payments, lowering your borrowing limit, declined purchases, over limit all reduce your credit rating. It goes up as long as you make purchases and meet minimum payments. It will hurt you in the long run through interest payments to carry a balance more than not getting Wind tab.

    Depending on the amount of balance you carry and for how long.
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  9. #9
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    Yeah, you wouldn't want to carry a balance for more than one or two months. Making at least minimum payments every month is important too. But demonstrating over the long term that you can handle a debt is what can help you get loans later on. Paying off a card full every month may not necessarily help with that. I had a friend who got a new credit card and paid it off every month, and one day the CC company actually called him to say "you're using it wrong." Go figure.

  10. #10
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    Quote Originally Posted by rtiangha View Post
    Yeah, you wouldn't want to carry a balance for more than one or two months. Making at least minimum payments every month is important too. But demonstrating over the long term that you can handle a debt is what can help you get loans later on. Paying off a card full every month may not necessarily help with that. I had a friend who got a new credit card and paid it off every month, and one day the CC company actually called him to say "you're using it wrong." Go figure.
    I've used credit cards with RBC (Visa), BMO (MC), MBNA (MC), PC (MC), and AMEX. I've never carried a balance. I've never had a credit card company call me to tell me I was "using it wrong".

    Methinks your friend is BSing you.

    Don't get me wrong, CC companies love people who make minimum payments. But minimum payments aren't going to help your credit score!
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  11. #11
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    Well I believe it's just short of impossible, I was denied Wind-tab and Postpaid today. I pay all my CC bill on time, carried a balance of $50 for a couple days, one month by accident (i paid $400, but the balance was $450), and maybe missed my cell phone bill by a day or two once every couple days. I had no problem financing for a $32,000 car a couple years ago.

    I phoned my bank today, to see if they would know the reason why, and they told me there was nothing wrong and since I was on the phone, they raised my credit limit by 2K. Go figure, Wind is just looking for to much.

  12. #12
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    This pretty much sums up the fact that I'll probably never get WindTab or WindTab+

    Not that I have bad credit, because I don't. I've had a CC and paid my bills on time for years now. No arrears or anything.

    And because of Wind's extreme standards I'll still probably get rejected.
    Not even worth getting checked out by Wind to see if I qualify.

    So goodbye Tab phones, who cares.

  13. #13
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    ^Maybe because you have too much credits? Meaning you have made too many request over the last 6 months?


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  14. #14
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    Quote Originally Posted by Fritz Z24 View Post
    ^Maybe because you have too much credits? Meaning you have made too many request over the last 6 months?
    What are you talking about?
    I've never made any requests in my life.

    I'm simply implying Wind's credit checking is insane and not worth risking for.
    Supposedly you'll get hits everytime Wind checks and rejects you.

  15. #15
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    ^ I think it was directed towards me.

    I wouldn't think so, I have a Canadian Brick and Mortar Visa for years, Got a Canadian Brick and Mortar Mastercard about a year ago, A overdraft line of credit on my bank account about a year an a half ago (and never used it), and a car loan from two years ago, all paid off. Nothing else.

    I currently have a balance of $300 on the one, because I bought something for $130 yesterday, bought some gas and groceries on the weekend.

    I know that Wind is tough on their credit score requirements, but I was shocked that I didn't pass.

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