Why is verzion so strict on credit?
I was at the mall the other day trying to get a new cell phone under my name. I just turned 18 and trying to establish my credit.I know i can get a line with Sprint/tmobile/ and cingular. As for Verizon i need a deposite of $ 1000.00 ( 😢 i know) The rep told me that if i didnt have a Social Sercurity number the deposite would be only $400. Why are they being so strict???
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If it came back at $1000 than you have something on it that is negative, no credit is only $400, if a cust doesnt have a SSN than I have no way to activate on a regular contract, others might have a way but we dont here as an inderect agent in Florida
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wfine81 said:
If it came back at $1000 than you have something on it that is negative, no credit is only $400, if a cust doesnt have a SSN than I have no way to activate on a regular contract, others might have a way but we dont here as an inderect agent in Florida
That is incorrect. I attempted to get a VZW phone 7 years ago with NO CREDIT (just turned 1😎 and they told me that they required a $1000 deposit.
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Well, that is what the credit department told me so that is all I am going by
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A friend of mine went out shopping for a phone and came home with a VZW phone--400.00 deposit. I handed him my phone, had him call TMobile and he came out with a nicer phone for less money, more minutes for less per month, a one year contract instead of two, and no deposit. Needless to say, he cancelled immediately, but it still took over SIX WEEKS to get his CASH deposit back... 🙄 I don't know why they're so sticky about the credit requirement, but it can be fairly prohibitive!
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Welcome to our world. Don't take it personally as it probably won't be the last time you get turned down for credit. Verizon may be more strict about it, but it's their choice.
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no offense to any of you folks that work for vzw, but my dad just went through a nightmare simply because of this whole credit issue. no he doesn't have bad credit nor was he turned down for trying to activate a new line of service. my dad has been a vzw customer for about 5 years now and has never had any problems with them until recently....when he ported my mom's # over from t-mobile. so they went down to our local vzw store and what do ya know? some idiot was able to open an account under my dad's name with the wrong social security number at that...and it was a vzw account!!! if vzw claims to be so strict with their credit-check process...how did this happen?
long story short...they had to jump through several hurdles just to have my...
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long story short...they had to jump through several hurdles just to have my...
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Aleq said:
A friend of mine went out shopping for a phone and came home with a VZW phone--400.00 deposit. I handed him my phone, had him call TMobile and he came out with a nicer phone for less money, more minutes for less per month, a one year contract instead of two, and no deposit.
What's T-Mobile? Do they have towers?
Sorry, couldn't resist. 🙂
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BetterThanJake said:Aleq said:
A friend of mine went out shopping for a phone and came home with a VZW phone--400.00 deposit. I handed him my phone, had him call TMobile and he came out with a nicer phone for less money, more minutes for less per month, a one year contract instead of two, and no deposit.
What's T-Mobile? Do they have towers?
Sorry, couldn't resist. 🙂
Towers? We don't need no steenkeen' towers! We just use telepathy--the phones are there as a smokescreen to make people think it's a conventional wireless setup. That's why there are so relatively few TMo customers, because you literally HAVE to have a brain to use our service. Any really stupid person w...
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Aleq said:...BetterThanJake said:Aleq said:
A friend of mine went out shopping for a phone and came home with a VZW phone--400.00 deposit. I handed him my phone, had him call TMobile and he came out with a nicer phone for less money, more minutes for less per month, a one year contract instead of two, and no deposit.
What's T-Mobile? Do they have towers?
Sorry, couldn't resist. 🙂
Towers? We don't need no steenkeen' towers! We just use telepathy--the phones are there as a smokescreen to make people think it's a conventional wireless setup. That's why there are so relatively few TMo customers, because you literally HAVE to have a brain to use our servi
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muchdrama said:...Aleq said:BetterThanJake said:Aleq said:
A friend of mine went out shopping for a phone and came home with a VZW phone--400.00 deposit. I handed him my phone, had him call TMobile and he came out with a nicer phone for less money, more minutes for less per month, a one year contract instead of two, and no deposit.
What's T-Mobile? Do they have towers?
Sorry, couldn't resist. 🙂
Towers? We don't need no steenkeen' towers! We just use telepathy--the phones are there as a smokescreen to make people think it's a conventional wireless setup. That's why there are so relatively few TMo customers, because you literally H
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Aleq said:...muchdrama said:Aleq said:BetterThanJake said:Aleq said:
A friend of mine went out shopping for a phone and came home with a VZW phone--400.00 deposit. I handed him my phone, had him call TMobile and he came out with a nicer phone for less money, more minutes for less per month, a one year contract instead of two, and no deposit.
What's T-Mobile? Do they have towers?
Sorry, couldn't resist. 🙂
Towers? We don't need no steenkeen' towers! We just use telepathy--the phones are there as a smokescreen to make people think it's a conventional wireless setup. That's why there are so relatively few TMo cus
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muchdrama said:...Aleq said:muchdrama said:Aleq said:BetterThanJake said:Aleq said:
A friend of mine went out shopping for a phone and came home with a VZW phone--400.00 deposit. I handed him my phone, had him call TMobile and he came out with a nicer phone for less money, more minutes for less per month, a one year contract instead of two, and no deposit.
What's T-Mobile? Do they have towers?
Sorry, couldn't resist. 🙂
Towers? We don't need no steenkeen' towers! We just use telepathy--the phones are there as a smokescreen to make people think it's a conventional wireless setup. That's why
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One of the reasons it took so long is that they pull what ever amount that is owed out of the deposit.
Verizon has a record low churn rate, which is a direct relation to their deposits, VZW has a high deposit for people with less than steller credit, people generally have high deposits because they have not paid their bills previously which caused them to hurt their credit.
Higher credit helps weed out the people who are "high risk" and helps keep the churn ratio down.
Churn does not just include the people who leave to another carrier, it also includes people who have had their phone shut off for non payment.
Verizon has a record low churn rate, which is a direct relation to their deposits, VZW has a high deposit for people with less than steller credit, people generally have high deposits because they have not paid their bills previously which caused them to hurt their credit.
Higher credit helps weed out the people who are "high risk" and helps keep the churn ratio down.
Churn does not just include the people who leave to another carrier, it also includes people who have had their phone shut off for non payment.
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wfine81 said:
One of the reasons it took so long is that they pull what ever amount that is owed out of the deposit.
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Umm, buyer's remorse period, hello? He received a prorated bill in the mail, which he paid. The outstanding four days of service were NOT taken from the deposit, somebody "lost" the record of his deposit in spite of the fact that he had a receipt for it, clearly marked "400.00 CASH deposit," which he had to fax in to about six reps before somebody figured out how to fix the situation. It should NOT have taken so long to return a cash deposit, it was just unexcusable.
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Working for the former AT&T Wireless, it actually took upwards to 60-days to process a deposit back. Did Verizon Wireless give the cust some sort of expectation on the deposit back?
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Considering he walked into the dealer, handed them four 100.00 bills and got a receipt which said "CASH deposit," then cancelled four days later, I fail to see why it should take so long for the dealer to hand BACK the four 100.00 bills, y'know? When a TMo acct is cancelled during buyer's remorse the deposit is credited back immediately. There was a lot of bibble about "oh, SOMEBODY must have lost/misplaced/misfiled/mishandled the deposit" but what it came down to was simply that the dealer didn't want to lose the commission and was trying every scummy trick in the book to get him to cave in and keep the account, and customer care wasn't doing much to whip the dealer into line. Eh, it's all over with now, he's had his TMo account over a ye...
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Aleq said:...
Considering he walked into the dealer, handed them four 100.00 bills and got a receipt which said "CASH deposit," then cancelled four days later, I fail to see why it should take so long for the dealer to hand BACK the four 100.00 bills, y'know? When a TMo acct is cancelled during buyer's remorse the deposit is credited back immediately. There was a lot of bibble about "oh, SOMEBODY must have lost/misplaced/misfiled/mishandled the deposit" but what it came down to was simply that the dealer didn't want to lose the commission and was trying every scummy trick in the book to get him to cave in and keep the account, and customer care wasn't doing much to whip the dealer into line. Eh, it's all over with now, he'
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It's also rubbish to call out and say it was over commission. The customer has to retain service for a certain period of time to receive that commission. Holding that deposit'll do nothing but piss the customer off even more.
Sure, a vindicative representative might do that. Or the rep who processed that was a total dunce and filed all his paperwork improperly. You're a fool to think that anyone who gets paid comission is only interested in your money--money he's not getting anyway. Okham's razor, anyone? Incompetence is more plausible than greed.
I agree with DP, the cust should just put up with it. AT&T Wireless took up to two billing cycles (60 days) to process back a deposit of any amount. 6 weeks sounds unfortunate if it should've...
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Sure, a vindicative representative might do that. Or the rep who processed that was a total dunce and filed all his paperwork improperly. You're a fool to think that anyone who gets paid comission is only interested in your money--money he's not getting anyway. Okham's razor, anyone? Incompetence is more plausible than greed.
I agree with DP, the cust should just put up with it. AT&T Wireless took up to two billing cycles (60 days) to process back a deposit of any amount. 6 weeks sounds unfortunate if it should've...
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As far as I know:
No credit = $125 deposit
Bad Credit = $400 Deposit
Bad Credit(and having Verizon send you to collections for non payment) = $1000 deposit.
maybe it is different for different markets. i have been selling phones for almost three years now and i have never seen a deposit over $600.
No credit = $125 deposit
Bad Credit = $400 Deposit
Bad Credit(and having Verizon send you to collections for non payment) = $1000 deposit.
maybe it is different for different markets. i have been selling phones for almost three years now and i have never seen a deposit over $600.
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Game I know that if you run your credit alot within to short of time period then that can look bad. To many inquiries can make your score negative if you didnt have any to begin with. Too many people esspecially when getting a phone go to one carrier to the other on the same day and run their credit at every one. Not saying that would warrent a 1000 deposit but it probably didnt help. As for tmobile.. they have to lower credit standards and bribe their customers with free/cheap neato phones to get the business. Give it about a year and you will see why alot of people prefer VZ.
oh and did you bother to look at their coverage in your travel area before you got tmob?
oh and did you bother to look at their coverage in your travel area before you got tmob?
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TommyBoy said:
Game I know that if you run your credit alot within to short of time period then that can look bad. To many inquiries can make your score negative if you didnt have any to begin with. Too many people esspecially when getting a phone go to one carrier to the other on the same day and run their credit at every one. Not saying that would warrent a 1000 deposit but it probably didnt help. As for tmobile.. they have to lower credit standards and bribe their customers with free/cheap neato phones to get the business. Give it about a year and you will see why alot of people prefer VZ.
oh and did you bother to look at their coverage in your travel area before you got tmob?
I don't see where he s...
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In my experience, no credit would get you at least $400 with Verizon, $150 with Sprint, and Smart Access with T-Mobile. Although its been a couple months, Cingular would be at least $500.
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I was under the impression that no credit was a higher risk liability than bad-credit, or so spake AWS's $800.00 dep for 0-cred, but $400.00 for bad.
Is there a certain deposit chart that I can look at? (I know Cingular's damn confusing).
Is there a certain deposit chart that I can look at? (I know Cingular's damn confusing).
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Which is funny cuz it feels like i run 8 million credit applications a day. they either come back at 0 or 1000. nothing inbetween. some of the other reps can come back with 125. even calling coos dofesn't seem to work anymore to maybe lower it to the next level. everytime i got a bad application and tried calling they were like, "uhhh, no. that's what you got, that's what you get."
of course i've only once seen a person pay a deposit that was over 125. a lady called up coos, after getting a 1000 deposit on 2 lines. coos lowered it to 400 per line, and the lady took it.
other wise customers are like, "well, i can get a line with "so and so" with no deposit. and you do that nice little phrase... "ok, but good luck getting servi...
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of course i've only once seen a person pay a deposit that was over 125. a lady called up coos, after getting a 1000 deposit on 2 lines. coos lowered it to 400 per line, and the lady took it.
other wise customers are like, "well, i can get a line with "so and so" with no deposit. and you do that nice little phrase... "ok, but good luck getting servi...
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look at it this way, those people with 400 or 1000 deposits mean htye have bad credit because they dont pay their bills, that means that there is a good chance they will defualt on their VZW bill and you will end up getting a charge back, I would rather not have somebody pay 1000 or 400 deposit becaust they will probably end up screwing you in the end
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that is totally wrong. I see $1000 deposits come back in Philly all the time. The deposits go as follows:
$125 for a limited amount of credit, not bad, but not really enough to base a solid decision on
$400 for those with no credit what so ever
$1000 for those with poor credit
A deposit is not such a a bad thing if you have the money to put up since VZW will pay it back with 3% interest after 12 months with good payment history.
$125 for a limited amount of credit, not bad, but not really enough to base a solid decision on
$400 for those with no credit what so ever
$1000 for those with poor credit
A deposit is not such a a bad thing if you have the money to put up since VZW will pay it back with 3% interest after 12 months with good payment history.
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I dont even know why I am even aking this, since I did not have to pay a deposit, but, curiousity is getting the best of me.
You state that verizon pays 3% interest, which I knew, and after 12 months of good payments returns it. This is what I want to know for some reason, wont do me any good, but someone that pays a deposit would like to know. When the 12 months is up and you get the deposit back, do you get a check from verizon, or do they apply it to your account? I have heard they apply it to the account. Which $400 or less might not be so bad, but, $1000, I would want the check, if I even paid that deposit amount, that would make me think maybe no I dont need it 😁
You state that verizon pays 3% interest, which I knew, and after 12 months of good payments returns it. This is what I want to know for some reason, wont do me any good, but someone that pays a deposit would like to know. When the 12 months is up and you get the deposit back, do you get a check from verizon, or do they apply it to your account? I have heard they apply it to the account. Which $400 or less might not be so bad, but, $1000, I would want the check, if I even paid that deposit amount, that would make me think maybe no I dont need it 😁
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I have personally seen all $125 deposits get credited to the account, higher amounts I am not sure on,
It seems that 50% of people love the fact that it gets credited to their account and the other 50% hate it, I guess they cant please everybody
It seems that 50% of people love the fact that it gets credited to their account and the other 50% hate it, I guess they cant please everybody
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Why is verzion so strict on credit?
I guess because they can be. But, you'd think the risk wouldn't be that big, as they could cut off service if you were behind, or if your monthly minutes were going way over your limit.
If I were you, I'd establish my credit at Cingular, unless you want to get a prepaid plan at VZW. You might find out they're not so bad at Cingular (and can always cancel in 30 days). I wouldn't give VZ a $1,000 deposit for the privilege of them selling you service.
I'm a loyal Verizon customer, and have tried other providers, and none had the customer service or call quality. But Cingular was pretty close, and getting better. (Check out Cingys's new Samsung P207 on phonescoop for $79-- very cool)
I guess because they can be. But, you'd think the risk wouldn't be that big, as they could cut off service if you were behind, or if your monthly minutes were going way over your limit.
If I were you, I'd establish my credit at Cingular, unless you want to get a prepaid plan at VZW. You might find out they're not so bad at Cingular (and can always cancel in 30 days). I wouldn't give VZ a $1,000 deposit for the privilege of them selling you service.
I'm a loyal Verizon customer, and have tried other providers, and none had the customer service or call quality. But Cingular was pretty close, and getting better. (Check out Cingys's new Samsung P207 on phonescoop for $79-- very cool)
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cell phone companies don't report to credit agencies. it doesn't establish credit for you.
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why does everyone seem to think that getting a wireless phone will build your credit. like turbodeuce said, wireless phone companies don't report to credit agencies. the only time that a wireless phone company would show on your credit report is if you did not pay the bill and it has been sent to collections - which is a whole different story.
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Game said:
I was at the mall the other day trying to get a new cell phone under my name. I just turned 18 and trying to establish my credit.I know i can get a line with Sprint/tmobile/ and cingular. As for Verizon i need a deposite of $ 1000.00 ( 😢 i know) The rep told me that if i didnt have a Social Sercurity number the deposite would be only $400. Why are they being so strict???
I have been selling Verizon for a long time and in the last two years the highest has been $400. And that's for people with No credit at all, or have filed bankruptcy, or just decided not to pay their bills. And for anyone that pays the $400 and decides not to keep Verizon service for any reason, they have to pay for ...
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forgot to put Impulse is 10 cents a minute to anyone else that is not Verizon..still free night minutes to anyone..which is Sun-Sat 9:01pm - 5:59am
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Start with Sprint: $150 deposit for people w/o SSN or who pop $400 on VZW. Deal with Sprint for 2 years, then switch to VZW. In those 2 years, buy a car and pay it off early, or get a secured credit card fom a credit union, after a year, switch to a regular card.
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Digital Pimp said:
forgot to put INpulse is 10 cents a minute to anyone else that is not Verizon..still free night minutes to anyone..which is Sun-Sat 9:01pm - 5:59am
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