Should I get approved for a line?

[ORD84]

Hey guys, I'm planning on switching back to VZW this week, and was just wondering if you think I should get approved for the line(s).

Recently my Credit rating took a hit when the wifey had a mixup with her student loan payments(she was sending two payments to the same people instead of to the two seperate ones that she needed to) and it's now on the lower end of 600-700. Today I called and the said they had to manually approve the lines? A month ago I checked and we were golden with the credit approval over the phone, but the agent I talked to today didn't even realize she could basically clear our credit without making a purchase...

Just making sure as Sprint has already caused me a 56k a year job(fire chiefs don't like it when you randomly drop their calls and don't immediately call back) and I can't bear to stand for that junk anymore, and need a working phone hence why we're biting the bullet and going to pay the extra to go back to Big Red if they'll give us the chance and this is the first time I've ever had this situation pop up...

 

[Digital Controller]

Personally ORD84, i really don't know whether or not Verizon will deny you based on your credit rating, to be honest, i think you will be fine and will be able to jump ship back to Big Red.

Hopefully everything works out for you!

 

[euph_22]

Personally ORD84, i really don't know whether or not Verizon will deny you based on your credit rating, to be honest, i think you will be fine and will be able to jump ship back to Big Red.

Hopefully everything works out for you!

Yeah, same here. I don't know whether they will deny you but I'd be surprised.

If they do, you can still get prepaid service through them, or Page Plus or some other 3rd party carrier that piggybacks Verizon's network.

 

[ORD84]

Talked to a buddy who works for at&t apparently their min credit rating is the industry high and thats 590 so basically anything above that you should be good...for those of yall in similar situations

 

[Digital Controller]

Talked to a buddy who works for at&t apparently their min credit rating is the industry high and thats 590 so basically anything above that you should be good...for those of yall in similar situations

Personally i don't even know what my credit rating is, as i am just starting out in the credit world, and they took me in as a customer when i was 17 haha.

There standards aren't that high

 

[Rolo42]

600+ is fine. I'd even question the 590 minimum.

I'm speculating that carriers are looking for charge-offs and defaults to avoid high risk. I can't see turning down a 2-year return on a small investment (subsidised phone) for missed payments and such.

If that were the case, even, you could skip the subsidy and either bring your own VZW-branded phone or pay full price for it.

 

[euph_22]

600+ is fine. I'd even question the 590 minimum.

I'm speculating that carriers are looking for charge-offs and defaults to avoid high risk. I can't see turning down a 2-year return on a small investment (subsidised phone) for missed payments and such.

If that were the case, even, you could skip the subsidy and either bring your own VZW-branded phone or pay full price for it.

You're forgetting that individual bills can run hundreds of dollars a month, and can go into the thousands with overages, roaming, 900-numbers and the like.

 

[Rolo42]

They can but they can also limit it (usually what credit score determines).

I know Sprint uses ridiculous limits.

The key difference here is that it isn't like a loan in that the entire balance is given up-front; it is more like a revolving credit line that can be limited/cut off.

 

[hilmar2k]

600+ is fine. I'd even question the 590 minimum.

I'm speculating that carriers are looking for charge-offs and defaults to avoid high risk. I can't see turning down a 2-year return on a small investment (subsidised phone) for missed payments and such.

You don't get to 590-600 without charge-offs and major defaults. A late payment here of there won't do it.

And remember, there are literally dozens of credit models, so one company's 600 might be someone else's 700. That's why ordering your own credit score is useless, as no one else uses that model.