General Question

steve22's avatar

Credit score to buy an Iphone 4G?

Asked by steve22 (55points) August 10th, 2010

What’s the minimum qualifying credit score for buying an iphone 4g without a security deposit, which ranges i guess form $100 to $1500?

Is having a Social Security Number (SSN) for a year and paying all my credit cards payments on time, paying over 4 utilities’ bills every month on time, and paying my university’s tuition in full on time enough to establish good credit score that qualifies me to sign a two-year agreement with AT&T?

P.S. I have had an iphone 2g with AT&T for over 2.5 years under my friend’s SSN, does that help me in being qualified for the new iphone somehow?

If I have a cosigner who has an excellent credit score, does that help me also in being qualified and waive the security deposit?

Your answers are welcome and appreciated as long as they answer all of the questions above clearly and with no guesses.
Off-topic answers are unwelcome and will be flagged.

Many thanks.

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5 Answers

tedd's avatar

The only one who could answer your question is Apple or whoever they run their credit through.

Your other phone record based on someone else’s credit score will not help you… it will help them though, I’m sure they thank you.

But on a side note… if you apparently have credit insufficient to buy a PHONE without a cosigner… maybe you should look into a cheaper phone?

Buttonstc's avatar

Whose name was on the monthly bill you were paying? That makes a huge difference in the answer.

Randy's avatar

AT&T only looks at your credit to open an account for your own wireless account. If you already have an account, be it your own or you being on someone else’s, then AT&T/Apple will not look at your credit score when you purchase an iPhone 4.

If you are planning to open your own account when you purchase your iPhone 4, then yes, all that you mentioned will help your credit score except for having an iPhone on someone else’s account. That part makes no difference because it was on a friends account and the type of phone you have makes no difference to AT&T.

If your credit score is high enough, AT&T will waive the deposit because they believe that you will have no problems paying them as your history states. Also, a co-signer with an excellent credit score could get it waived also but then if you miss a payment, are late or quit paying for your service, then it not only affects your credit but theirs also.

BarnacleBill's avatar

Generally you will be able to get your own account with a credit card, and a decent score. What was paid under your friend’s SSN is reported on your friend’s credit history. If you’re not on the account, then there is no way to link you to that payment history. It sounds like you have good credit history.

You may find this recent TechCrunch article to be of interest.

gregwasserstrom's avatar

It’s my understanding that a credit score of 650 is generally considered by credit-issuers as acceptable.

If you are a current AT&T customer however your credit score will not impact your ability to get an iPhone 4. It’s only folks that don’t currently have AT&T as their wireless provider that have their credit checked.

When AT&T and Apple talk about being “qualified” for a iPhone 4 for existing AT&T customers, they are just referring to whether are not you are far enough along in your 2-year contract to receive a the discounted $199 or $299 price on the phone itself.

You also don’t have to go thru a credit check to extend your existing AT&T wireless contract.

For new customers attempting to join AT&T with poor credit, AT&T will suggest buying a per-paid plan or ask for a $500 deposit on a 2-year contract. The deposit will be applied to your account after the first year of the contract, if the remains in “good standing”, which really just means “paid on time.”

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