What is Verizon's credit criteria for new service???

[LastBoyScout]

I worked at Best Buy for 3 years. Nothing but Thieves and Liars in upper management. Wanted us to all work like we were going to get commission and "up sell" everything.

The Regional VP came up to me and asked why a customer didnt leave with a Battery Back up for her computer. I stated that A - it was not needed to make the computer run, and B - she didnt have the budget for it.

I got written up and put on probation for not "up selling" the customer into thinking that it was necessary and told that budgets are not an issue since she could buy it on credit with a Best Buy card. I quit on the spot.

Word to the wise... General Hawk on GI Joe was right... Knowing is Half the Battle.

Always know about the item you are going to purchase, and never use a 3rd Party Vendor when signing a multi-thousand dollar contract.

side note, i have never been in or purchased an item from Best Buy since 2004. Over priced and lack of product knowledge.

 

[thelion]

Those scores are ok, but nothing spectacular. They are around the new average.

Not sure what you do for a living but these scores are in the highest tier for credit scores (I've been selling mortgages for 9 years so know a thing or two about credit). It's quite difficult to get higher scores these days. They are certainly not the, "average," by any stretch of the imagination.

Mortgages are different than any other credit product. It is not difficult at all to get high scores these days. Establish a wide range of credit, pay in full each month and never pay late.

They are average for what is being accepted. A few years ago they would have been spectacular and these guys would have been approved for everything at the lowest rates. Clearly that is no longer the case. Things change, keep up.

I again will restate that SOMETHING on that credit report triggered a risk factor at VZW. CHECK your report.

 

[Echo3]

I can vouch for that. I had past issues with Verizon few years back and left with an unpaid balance. Got my finances and budget in order and paid it off. Talked to financial services with Verizon and I guess someone who does the credit or whatever, they updated my credit report and said I am clear to to get service with them. I told them about about my fair credit and they said they don't go by your credit score or whatever. Few months later, I signed back up with Verizon with fair credit (low 600's) and I had to pay NO deposit.

Those scores are ok, but nothing spectacular. They are around the new average.

Not sure what you do for a living but these scores are in the highest tier for credit scores (I've been selling mortgages for 9 years so know a thing or two about credit). It's quite difficult to get higher scores these days. They are certainly not the, "average," by any stretch of the imagination.

Mortgages are different than any other credit product. It is not difficult at all to get high scores these days. Establish a wide range of credit, pay in full each month and never pay late.

They are average for what is being accepted. A few years ago they would have been spectacular and these guys would have been approved for everything at the lowest rates. Clearly that is no longer the case. Things change, keep up.

I again will restate that SOMETHING on that credit report triggered a risk factor at VZW. CHECK your report.

 

[Garemlin]

What a freakin' fiasco this turned out to be. I wasn't about to let this go.So I had my wife call today and ask for someone in the credit department. She got through to Tele-Credit I think it is called. The guy pulled up her info and said everything looked great. Approval for up to five lines with no deposit and a pretty good deal on all three phones. So she text me to let me know and to see what I thought. Told her to go ahead and do it. Thought it was taken care of. So I get off work and had another message saying no go. Apparently they went through the whole process and asked her four security questions...

-Last four of her social
-How many people live in the household
-Age of the head of household (me)
-Who our mortgage is through

Pretty simple huh??? Not!!! They said she didn't answer correctly. Huh??? Nothing more they could do. But we were welcome to try again in 30 days by bringing a utility bill into one of the corporate stores to be faxed in. At this point I am seeing red and she wants no parts of Verizon.

Being me I told her to meet me at the corporate store. I wanted to talk to someone face to face and have them tell us exactly WTF was going on. Soooo we get there and I explain to the guy what has been going on. So he takes us over to the terminal and tried to bring up the application number from today. Does not exist. So he tries the one from Best Buy yesterday and it comes up. But apparently they screwed it all up. So he gets on the phone with customer care and explains what is going on. They pull everything up. Approved for all lines with no deposit. Done deal. Not only that he told the store manager what had transpired over the last few days and he hooked us up big time. All three phones (Eris, enV Touch, enV3) for $79.99 after rebates. That is even a better deal than were were originally going to get at Worst Buy. Nobody knows for sure exactly what caused all of this but the general opinion is that when Worst Buy screwed up the application (twice) it put a red flag right over her head and basically made it look like she was attempting to commit identity theft. It was them that made her look like a risk. Not her credit. Freakin idiots!!! It is a big relief to her because she was beginning to worry about her credit. Which to answer some here we know what it looks like and know what our scores are from when we just traded our bike in back in November.

To the guys mentioning the possibility of having an outstanding balance from my past account. My account was in good standing and paid in full. But it is irrelevant because we are putting it in my wife's name because she gets a corporate discount. My name and info was never in the equation to start with.

thelion: Just to follow up a bit with you. I was not offended. Just a little taken aback because you thought our scores were just average. I have worked to build my credit back up from the mid 400's (divorce will do that to you) just six years ago. I'm a little proud of that. I don't deal personally with credit card companies criteria so I guess they may be different. But in the world or personal and auto loans and mortgages, which you deal with people face to face, my credit is A+ Tier 1 (Tier 1 is 740 and above by most lenders standards) and hers is A. The score I gave in my OP is my low. But my average FICO score is a 772. But it is amazing how one little thing can drag you down. The one single late payment on her credit card 6 months ago dropped her from a 755 to a 720 that quick. And also I wasn't "complaining here". I started the thread to get some insight and any subsequent post were just following along with the discussion. After all discussion is what forums are all about right???

 

[thelion]

thelion: Just to follow up a bit with you. I was not offended. Just a little taken aback because you thought our scores were just average. I have worked to build my credit back up from the mid 400's (divorce will do that to you) just six years ago. I'm a little proud of that. I don't deal personally with credit card companies criteria so I guess they may be different. But in the world or personal and auto loans and mortgages, which you deal with people face to face, my credit is A+ Tier 1 (Tier 1 is 740 and above by most lenders standards) and hers is A. The score I gave in my OP is my low. But my average FICO score is a 772. But it is amazing how one little thing can drag you down. The one single late payment on her credit card 6 months ago dropped her from a 755 to a 720 that quick. And also I wasn't "complaining here". I started the thread to get some insight and any subsequent post were just following along with the discussion. After all discussion is what forums are all about right???

As I said before, a few years ago your scores would have been amazing. They are now average when compared to what is being accepted. That is just the way it is. Give it a few more years and you will be considered amazing again.

Good for you for building your score back up. But remember that just because the numbers look great - that doesn't mean the file is. As I said before, I have seen 18 year olds with one credit card and a cell with scores in the upper 700s.

 

[Martin030908]

Garemlin.... glad you reached a resolution! What a fiasco! lol. Enjoy your phones!

 

[Garemlin]

Garemlin.... glad you reached a resolution! What a fiasco! lol. Enjoy your phones!

Thanks. We have never been through anything like this before. Crazy.

 

[Backnblack]

I had an easier time buying my House......

Glad everything worked out!

 

[Jenbug0421]

So we just got back from Best Buy. With no new phones. Says we need $125 deposit per line. We were floored. I have a credit score of 760 and my wife's is a 720. Plenty of established credit and everything is always on time. Those credit scores don't require a deposit IMO. Six years ago I got Verizon service and my score was around a 620 and I didn't have to put a deposit down. What gives???

 

[Jenbug0421]

So we just got back from Best Buy. With no new phones. Says we need $125 deposit per line. We were floored. I have a credit score of 760 and my wife's is a 720. Plenty of established credit and everything is always on time. Those credit scores don't require a deposit IMO. Six years ago I got Verizon service and my score was around a 620 and I didn't have to put a deposit down. What gives???

That seems very weird, I just applied online at Verizon wireless.com and also ordered the new iPhone X and was approved with a $0 deposit. Keep in mind, my credit score is 539 and they still approved me. Trying to rebuild it back up. I would try the website. They also shipped it out the same day, supposed to get here Tuesday. I'm excited!!

 

[me just sayin]

I think there is more involved than just a credit score. at one time I was told it helps if you have auto payments.

 

[Sajo]

Things have probably changed quite a bit since 2009. The post quoted about credit scores was made in 2009. Verizon has changed a lot of policies and plans in the past 8 years

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