Ridiculous $800 Security Deposit
Snartmom
Newbie
Our family has been Verizon customers for 20+ years. My son was recently married and opened his own cell phone account. He had to pay a $800! security deposit to start the account. Yes, if he keeps up with his bills they will get it back in a year. But that is a ridiculous amount to have to pay just because he has no credit rating built up yet. There are other ways to guard against defaulting on the bill. If he fails to pay his bills Verizon can just cut the service. This amount is more than they pay for their apt. security deposit. Both he and his wife are contracted employees with regular income. My son is an officer in the Marine Corps and gets a regular pay. Verizon needs to consider their customers. Holding $800 from this young couple is robbery. Once again, Verizon has put profit before people!
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Re: Ridiculous $800 Security Deposit
smith6612
Community Leader
Community Leader

Sounds like they're doing nothing more than putting down an industry "big business" standard. Those with no line or poor credit put down a security deposit to give the person (and the company) some padding should a bill actually not wind up being paid. But yes, that deposit does turn into pure profit over time. Car dealerships do the same thing as well as many other residential providers who give service to a home (municipalities and utilities however cannot do this, but can charge connection fees depending on the area). I do agree that is a pretty steep fee however.

For a situation like this I would have considered getting a prepaid phone that uses Verizon Wireless. You have to ensure the phone remains charged with minutes but it beats an $800 deposit and allows for some time to get a line of credit started.

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Re: Ridiculous $800 Security Deposit
KaLin
Khoros Partner
Khoros Partner

These forums are dedicated to Residential products and services offered by Verizon.

For help on Verizon Wireless issues, please post your topic on the Verizon Wireless community.



Thank you

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