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  • FIRST POST
    • Chappaz
    • By Chappaz 26th Oct 16, 11:16 AM
    • 130Posts
    • 57Thanks
    Chappaz
    Apple Upgrade Program - Credit check
    • #1
    • 26th Oct 16, 11:16 AM
    Apple Upgrade Program - Credit check 26th Oct 16 at 11:16 AM
    Hi folks.

    I'm interested in going with the new Apple upgrade program at some point in the future. Some people might think it's a good deal, some might consider it a crazy price for a phone, but I'd save £20 a month doing it.

    Anyway, I've noticed that this program is based on a 0% interest-free loan from Barclays.

    My credit report is not particularly good (due to a lack of credit history as opposed to any bad marks), so this 0% worries me, as I would have thought that the eligibility for such a deal would be quite strict.

    Does anyone have any experience of applying for this program? For those with credit check know-how, do you think this finance agreement through Apple would be difficult to get accepted for with a below-average credit rating?
Page 1
    • Browntoa
    • By Browntoa 26th Oct 16, 11:22 AM
    • 31,871 Posts
    • 37,588 Thanks
    Browntoa
    • #2
    • 26th Oct 16, 11:22 AM
    • #2
    • 26th Oct 16, 11:22 AM
    from what I've seen on other forums the criteria are pretty strict on who they allow
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • Stevie Palimo
    • By Stevie Palimo 26th Oct 16, 11:23 AM
    • 3,099 Posts
    • 4,420 Thanks
    Stevie Palimo
    • #3
    • 26th Oct 16, 11:23 AM
    • #3
    • 26th Oct 16, 11:23 AM
    Credit ratings are nye on pointless in most circumstances as they are just a partial factor in relation to gaining any type of credit, There are many things Companies look at when offering credit and whilst your credit report is one of them there are a few other things like income versus outgoings, Are you registered to vote, do you rent or own a property and so on.

    Nobody on here can tell you or guess if you would be accepted as it is all based differently as per each application made to them.
    • Chappaz
    • By Chappaz 26th Oct 16, 11:38 AM
    • 130 Posts
    • 57 Thanks
    Chappaz
    • #4
    • 26th Oct 16, 11:38 AM
    • #4
    • 26th Oct 16, 11:38 AM
    Credit ratings are nye on pointless in most circumstances as they are just a partial factor in relation to gaining any type of credit, There are many things Companies look at when offering credit and whilst your credit report is one of them there are a few other things like income versus outgoings, Are you registered to vote, do you rent or own a property and so on.

    Nobody on here can tell you or guess if you would be accepted as it is all based differently as per each application made to them.
    Originally posted by Stevie Palimo
    That's true. Income vs outgoings are pretty strong, it's just the credit report which is the issue.

    I'm just trying to get some kind of idea whether it's worth trying or waiting to build a better credit history (which I'm currently doing with CCs). This application "hard footprint" on credit reports is bloody annoying to be honest. It would be so nice to just get a clear yes or no answer without worrying about a negative credit report impact.
    • Anthorn
    • By Anthorn 26th Oct 16, 11:38 AM
    • 3,173 Posts
    • 817 Thanks
    Anthorn
    • #5
    • 26th Oct 16, 11:38 AM
    • #5
    • 26th Oct 16, 11:38 AM
    Hi folks.

    I'm interested in going with the new Apple upgrade program at some point in the future. Some people might think it's a good deal, some might consider it a crazy price for a phone, but I'd save £20 a month doing it.

    Anyway, I've noticed that this program is based on a 0% interest-free loan from Barclays.

    My credit report is not particularly good (due to a lack of credit history as opposed to any bad marks), so this 0% worries me, as I would have thought that the eligibility for such a deal would be quite strict.

    Does anyone have any experience of applying for this program? For those with credit check know-how, do you think this finance agreement through Apple would be difficult to get accepted for with a below-average credit rating?
    Originally posted by Chappaz
    About the same as applying direct to Barclays for a loan or credit card I should think. Don't quote me on this because it's derived from a previous encounter with Barclays but before they would even consider an application for a loan at all they required a minimum income of £20,000 p.a.

    I doubt whether Barclays are going to relax their requirements just because it's Apple.

    But do you really need to use the official iPhone Upgrade Programme? You could for example use a 0% purchase card and get longer to pay for it, possibly up to 40 months.
    • Chappaz
    • By Chappaz 26th Oct 16, 4:20 PM
    • 130 Posts
    • 57 Thanks
    Chappaz
    • #6
    • 26th Oct 16, 4:20 PM
    • #6
    • 26th Oct 16, 4:20 PM
    About the same as applying direct to Barclays for a loan or credit card I should think. Don't quote me on this because it's derived from a previous encounter with Barclays but before they would even consider an application for a loan at all they required a minimum income of £20,000 p.a.

    I doubt whether Barclays are going to relax their requirements just because it's Apple.

    But do you really need to use the official iPhone Upgrade Programme? You could for example use a 0% purchase card and get longer to pay for it, possibly up to 40 months.
    Originally posted by Anthorn
    I just wonder because, in essence, every mobile phone contract is a lump sum loan, often for prices up to £600+ which people rarely have any difficulty applying for. Then again, these contracts do seem to charge interest, so perhaps it's the 0% which would make it a lot more difficult.

    It would just seem like Apple would be shooting themselves in the foot a bit if they introduced a service like this which is much stricter than any normal phone contract. Hardly competitive.

    Anyway, I could possibly use a loan or card. I'm just interested in this program as it gives you another new phone every year if you hand back the old one (which I'm happy to do), and comes unlocked, which is very important for me as I travel a lot have to switch out sim cards.

    I also hope that such a program puts you at the front of the queue when it comes to receiving the new release, but I'm not so sure about that. Keen to avoid any issues as I attempted to order the iPhone 7 Plus this September and it was delayed about a month and a half.
    • mobilejunkie
    • By mobilejunkie 26th Oct 16, 7:19 PM
    • 7,481 Posts
    • 2,346 Thanks
    mobilejunkie
    • #7
    • 26th Oct 16, 7:19 PM
    • #7
    • 26th Oct 16, 7:19 PM
    I sell Barclays Finance in relation to other products. It's entirely down to Barclays, but if you've had any missed or late payments or similar issues you may well be declined. They pass about 85+% plus of the ones I put through.
    • Chappaz
    • By Chappaz 27th Oct 16, 11:49 AM
    • 130 Posts
    • 57 Thanks
    Chappaz
    • #8
    • 27th Oct 16, 11:49 AM
    • #8
    • 27th Oct 16, 11:49 AM
    I sell Barclays Finance in relation to other products. It's entirely down to Barclays, but if you've had any missed or late payments or similar issues you may well be declined. They pass about 85+% plus of the ones I put through.
    Originally posted by mobilejunkie
    Just one default back in 2012 for £15 (long story). Other than that, a clean record, but a lack of any significant credit history.
    • mobilejunkie
    • By mobilejunkie 27th Oct 16, 2:56 PM
    • 7,481 Posts
    • 2,346 Thanks
    mobilejunkie
    • #9
    • 27th Oct 16, 2:56 PM
    • #9
    • 27th Oct 16, 2:56 PM
    A default may well cause a decline. It stays on your files for 6 years. The only way to find out is to try.
    • metalmad83
    • By metalmad83 16th Sep 17, 5:32 AM
    • 1 Posts
    • 0 Thanks
    metalmad83
    I really want to get the new iPhone on the upgrade program but we are also moving soon and so will be getting a bigger mortgage.

    My question is will it negatively affect our chances of being approved for the mortgage if I’ve got a recent hard check for the upgrade program on my file? My credit rating is excellent on experion (for what that’s worth)
    • mobilejunkie
    • By mobilejunkie 16th Sep 17, 7:45 AM
    • 7,481 Posts
    • 2,346 Thanks
    mobilejunkie
    I doubt it, but it does depend on how many other searches are on there during the last 12 months - and the other fairly essential details re. missed payments, residence etc etc.
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