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Will Verizon run a credit check on an existing customer for device payment plan?
bmatt25
Member

I'm currently a VZW customer and I'm due for an upgrade at the end of next month. I'm currently on the 2GB loyalty for $60, and while that plan is an amazing value, I'm going to need more data. When I upgrade, if I switch to the new Verizon plan and choose a phone on DPP instead of subsidy, will Verizon run my credit?

I've seen answers both ways. Yes, all DPP's run a credit check. Or, no, existing customers WON'T get a credit check. Not sure which is accurate. I want to be prepared when I go to upgrade, because my credit isn't nearly as good as it was when I first signed with Verizon. I'm sure they'd want a down payment for the DPP if they look at my credit. But, getting no down payment with DPP is pretty much the only draw to it -- because it's otherwise more expensive.

Oh, and side note: if I call and explain how I've been shopping around and plan to cancel, would they let me upgrade a month early? Smiley Happy

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Re: Will Verizon run a credit check on an existing customer for device payment plan?
chris1060
Sr. Member

I'm not for sure if they pull a hard inquiry, but I know they will do an internal credit verification, utilizing the information in your account, such as your payment history. Unless they have changed the policy on their EIP.

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Re: Will Verizon run a credit check on an existing customer for device payment plan?
chris1060
Sr. Member

I'm not for sure if they pull a hard inquiry, but I know they will do an internal credit verification, utilizing the information in your account, such as your payment history. Unless they have changed the policy on their EIP.

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Re: Will Verizon run a credit check on an existing customer for device payment plan?
rcschnoor
Sr. Leader
Sr. Leader

bmatt25 wrote:

But, getting no down payment with DPP is pretty much the only draw to it -- because it's otherwise more expensive.

You pay the same amount for the phone whether or not you have to provide a down payment. If you put a down payment on the phone, your monthly payments are lower. Not sure why you would think it is more expensive.

Re: Will Verizon run a credit check on an existing customer for device payment plan?
bmatt25
Member

I don't think the phone would be more expensive. I understand how the basic math in DPP works. I mean that the plan + DPP is going to be more expensive than a plan with subsidy on a monthly basis, not that the phone would be more expensive.

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Re: Will Verizon run a credit check on an existing customer for device payment plan?
pherson
Leader

Of course it's going to be more expensive. The plan is increasing and you are adding a payment plan to it as well.

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Re: Will Verizon run a credit check on an existing customer for device payment plan?
Weth
Sr. Leader

buying on payment plan with down payment equal to the subsidized price will usually be chapter than buying on contract.

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Re: Will Verizon run a credit check on an existing customer for device payment plan?
duckyouverizon1

Yes they do a credit check.  And sometimes they make a mistake and do it when no one requested the upgrade or addition.  Then, there is no one to talk to, because why would they care they messed with someone's credit.  Be careful.  I think pay by the month plans (pre-paid) is the safest way to go. NO commitment, better prices, and no one accidentally running your social!!

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