Does APPLYING FOR A CELLULAR PHONE hurt your credit score? And WHAT'S THE REAL TRUTH?

Question

I am in need of a cellular phone.

I have been to corporate and authorized dealers of ALL the companies in my area. I have heard DIFFERENT ANSWERS to this question every time talk to a different salesperson at each company.

I am trying VERY HARD not to harm my credit score.

When I approach a salesman, he says that he doesn't know if there is going to be a deposit unless he runs my credit. He also says that it is not a "full blown" credit report where he can tell me my credit score. It's just a process that every company goes thru to qualify you and they all have their own, seperate credentials and qualifications. I even went to one place that had 5 different carriers. The guy there said that he would actually run my credit 5 different times and it only counted as one. (But it still needed to be run 5 times!)

First of all, is all that true? Additionally, what REALLY will harm my score in regards to checking with a company to see if I have a deposit or not?

Answer 1

It will show up as an inquiry on your file. This kind of check can sometimes drop your score, but not by very much. If you need a cell phone, my suggestion would be to research plans and prices online, select the company that's best for your needs, and then apply only there. Don't shop around at 5 different carriers and have 5 inquiries to your account.

I have inquiries on my credit report from the dealership where I bought my car and the lender that gave me my car loan. Those are the only things that appear in the "requests viewed by others" section of my credit report. (When I go apply for something, that's the only thing other people will see, in other words.)

My two credit card companies, the electric company, and some people who have sent me un-solicited card offers appear in the "requests viewed only by you" section. My cell phone company does not appear in either. (I've had them for about two years, but I don't recall ever seeing them in my credit report.)

Good luck!

Answer 2

I actually think the one salesman might be correct. In that they don't run a full report, but probably equivalent to a Pre-Screened one that gives them basic information. I don't remember ever having an inquiry from a Cell Phone company show up. So it probably won't hurt your score for applying, but things could change and they might be running a full requests now.

I doubt you would get a regular salesperson or even a manager that could give you the "real" answer. They just don't have access to that information. You would have to talk to someone in the company that actually deals with the credit applications and they will probably be in some central office. If you are really worried I would apply for 1, even if it does count as an inquiry your score should not drop more than a couple of points. If it does not show up then you have your answer, yes this is a back door way to do it but it might be the only way to get a real answer.

Answer 3

no longer with assistance from itself, i'd imagine. i anticipate your cellular telephone bill isn't over $50 in step with month which isn't considered very a lot debt load. certain it really is a month price, yet no longer lots to pay. Having a mastercard should be more advantageous powerful to strengthen your credit status than only a cellular telephone bill even even if it isn't a serious mastercard and only a dept. shop card. i imagine having a dept. shop mastercard help me get a serious credit like Visa or mastercard that you will be able to apply virtually everywhere. i do no longer shop in ideas seeing the call of a cellular telephone organisation on my credit document many years in the past. I paid about $40 5 to 50 in step with month and that i'm in Canada so if the different guy talks about sprint and AT and T that are American cellular telephone businesses which the rates are much more cost-effective i believe. I pay more advantageous and my bill with the phone businesses replaced into no longer aspect out in credit document.

Answer 4

I don't think my credit has ever been run to apply for cell phone service, and I've been with AT&T and Sprint. However, let your account go delinquent, and they'll report it.

Even if they run your credit to determine your eligibility, inquiries like that won't do any damage to your credit. It's when those inquiries add up that you'll start noticing drops in points.

I'd speak to a manager, and let them know what you want. Don't get a satisfactory answer? Tell them you'll see them later and go down the road to the next one.

Answer 5

Just get a prepaid phone. There is no credit check needed!