Ridiculous Credit Limit
carlosisjr
Enthusiast - Level 1

I switched 7 lines over from AT&T in June 2022.  We have only upgraded 3 lines so we have installments that add up to about $2,100.00. I am wanting to upgrade one of the other lines and apparently my limit can’t be raised and I am supposed to pay full price? I have credit score of 815+ and have paid my cell bill on time(about 2 weeks early) since I started. Anybody else had this issue? I called and spoke to the credit folks and said there are no exceptions. If nothing is done to help me get this resolved I will need to leave Verizon. This is ridiculous. Please help!!!

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Re: Ridiculous Credit Limit
vzw_customer_support
Customer Service Rep

@carlosisjr ,

Thank you for sharing so many details. We're glad to know that you keep such good track of your credit history, as making payments on time would give you a high score like that. What you are referring to though is not related to your credit score, but your account history with us. Please see #2 under "device payments and making installment payments" here: https://www.verizon.com/support/device-payment-faqs/ . The Device Finance Limit is based on your account history and tenure with us, as these are unsecured, interest-free loans that are being used to purchase new devices on your lines. If you want to make a purchase that goes beyond the finance limit on your account, you would only need to pay the difference at the time of purchase, which will make monthly payments for that phone lower as well - that's not going to be the full retail price unless you have used the full amount of your finance limit. We're sorry that you want to leave us, but tenure is a factor as well, so leaving will not give you the higher finance limit you desire.

-Russell

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Re: Ridiculous Credit Limit
carlosisjr
Enthusiast - Level 1

How often is it reviewed? My payment history is immaculate. Have autopay and the bill has actually been paid sooner than when its due for “autopay” since the day I signed up. Out of 7 lines on the account 2 have promotions that credit the full amount of installments and the other(my line) its for an Iphone 13 Pro Max that technically by itself goes over your $1,000 credit limit. What am I supposed to tell my mother and the other 3 other lines when they want a new phone? That they need to pay the full $900 to $1200? What do family plans that switch over generally do? I am very happy with the better reception but will not be able to stick around if I can’t upgrade. Please contact me asap.

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Re: Ridiculous Credit Limit
vzw_customer_support
Customer Service Rep

We deeply apologize that there is a set limit for how much can be applied to our device payment plan. Most likely since you stated your payment is immaculate, your account is probably at the max for that available balance.

 

Depending on the model phones chosen to be purchased on the device payment plan with us, that total available balance can be used up before all the lines on the account are able to get a new phone. 

-Steven

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