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Cellular Phone Forum / Providers / ATT Wireless / April 2004WOW! $1000 deposit for Verizon Wireless service!
I went to the store last friday to get an all new contract. *Family share 1200* with 3 lines and 3 new phones. WELL! MY GOD! $3000 deposit required for new activation. that is $1000 on each of 3 lines. WOW! The sales rep wasn't too helpful. He offered run my credit again. One inquiry in my file is enough, thank you. So I sent VZW this email when I got home: I was just at your "Somewhere in M.A." store to buy new service and phones. I was told I would need a $1000 deposit per line! WoW! I want to know why? I could do a $200 deposit but $3000! WoW! It would be cheaper to pay a whole year of service ahead of time and full price of phones but the sales rep said I would still need to make the deposit. What gives? Old lurker ---------------------------------------------------- I recieved this response Sunday: Dear Old lurker, Thank you for contacting Verizon Wireless through our website. We apologize for the delay in responding to your inquiry. Thank you for contacting us regarding our security deposit policy. Verizon Wireless checks the credit of all potential customers. We believe the deposit we requested is fair and reasonable, considering the expenditures and risks incurred in the wireless industry with new accounts. Your application was processed by an automated system that reviews credit information provided by consumer credit bureaus. The information we received in processing your application unfortunately did not enable us to approve your request for service without a security deposit. The credit bureau played no part in our decision to request a security deposit, other than providing us with credit information. Under the Fair Credit Reporting Act, you have the right to know the information provided to us. It can be obtained by contacting our Credit Orders and Operations Department at 800-382-7116. Please remember, as part of our Worry Free Guarantee you will enjoy the largest, most reliable nationwide wireless network. Feel free to contact us again through www.VerizonWireless.com if you have any further questions. Sincerely, Teresa Verizon Wireless Customer Service ----------------------------------------------- So I sent this email monday: Thank you for sending me this information. I called your Credit Orders and Operations Department at 800-382-7116 and was told there is a single negative trade line in my Trans Union file. I am aware of it but have not been able to get it updated properly these past few years. Onestly I haven't put the time into it. As I am sure you know maintaining ones credit file can be a time consuming exercise. Regardless, my fico score should be high enough to obtain a contract though VZW. Is there some compromise we can come to on the deposit? I could go as high as $200 per line. You see I realy do want VZW service in preference to another carrier. however I just can't see putting down $1000 deposit per line despite the how much I prefer VZW. Your effort is greatly appreciated. Please don't feel rushed. Old lurker --------------------------------------------- And recieved this response yesterday: Dear Old lurker, Thank you for contacting Verizon Wireless through our website. Your questions require a more detailed analysis than the e-mail format will allow. We would like to extend you the opportunity to contact a Verizon Wireless representative to discuss your inquiry over the phone. Please contact our Verizon Wireless Customer Service Department by calling 800-922-0204. As a quick reminder, you can dial #646 and send for minutes used, and #225 and send for your balance. Both calls are airtime free! Please remember, as part of our Worry Free Guarantee if you ever have a problem, it becomes our problem the first time you contact us. Feel free to contact us again through www.VerizonWireless.com if you have any further questions. Sincerely, Kelley Verizon Wireless Customer Service -------------------------------------------- So I just called the Customer Service Department. Well, after going though the "I'll transfer you" merri-go-round I ended up back in the Credit Orders and Operations Department. So I ask again if I can get the deposit reduced.? Wait.- put on hold.- Wait. - Talk to manager. - Wait. - He comes back and says "there is nothing we can do" it is $1000 depost per line, $3000 deposit total. I offered to pay the full price for the phones and a whole year of service up front. "there is nothing we can do". So I Thanked him for his time and told him to have a nice day. sheeeesh! credit should have NOTHING to do with wireless. reasonable??? risks?? >I was just at your "Somewhere in M.A." store to buy new >service and phones. I was told I would need a $1000 deposit per line! >WoW! I want to know why? I could do a $200 deposit but $3000! WoW! It >would be cheaper to pay a whole year of service ahead of time and full >price of phones but the sales rep said I would still need to make the >deposit. What gives? we don't have the best credit and they wanted 300 per phone. but 10000 was way out of line.  SignatureKnight-Toolworks & Custom Planes Custom made wooden planes at reasonable prices See http://www.knight-toolworks.com For prices and ordering instructions. You must have really bad credit > You must have really bad credit No, not that bad. I don;t see what the problem is, Why such a big deposit. >> You must have really bad credit > >No, not that bad. I don;t see what the problem is, Why such a big deposit. I agree. $1000?? That I cannot understand. There is no way somebody could run up a bill that high! > I went to the store last friday to get an all new contract. *Family share > 1200* with 3 lines and 3 new phones. [quoted text clipped - 130 lines] > sheeeesh! credit should have NOTHING to do with wireless. reasonable??? > risks?? That's one hell of a story. > > I went to the store last friday to get an all new contract. *Family share > > 1200* with 3 lines and 3 new phones. [quoted text clipped - 131 lines] > > risks?? > That's one hell of a story. Many of the 'automated' credit scoring programs look at what types of credit you have. For example, four co-workers of mine applied for AT&T phones, 2 were given an account without a deposit, two had to pay a $200+ deposit. All four have simular jobs and make simular pay. However, the two that got the accounts without a deposit were paying on a car loan and a home loan. The other two lived in apartments and did not have a car loan. Most automated systems assign points to certain types of credit - car loans and home loans earn you more points. How bad is your credit rating? I'm not being smug here, I'm just asking, and I suppose you need to ask yourself the same question. Three phone lines is a substantial risk on their part, and if your report shows a BK, or a bunch of late pays, collections, or a huge amount of unsecured debt, they have a right to cover their butts. Having said that, I still think $1000 per line is excessive. Definitely shop around, and don't ignore pre-paid plans that are designed for people with bad credit. If you can't do a pre-paid plan, then Verizon is probably right in their assumption. --Mike >I went to the store last friday to get an all new contract. *Family share > 1200* with 3 lines and 3 new phones. [quoted text clipped - 142 lines] > sheeeesh! credit should have NOTHING to do with wireless. reasonable??? > risks?? > How bad is your credit rating? I'm not being smug here, I'm just asking, and > I suppose you need to ask yourself the same question. Three phone lines is a [quoted text clipped - 4 lines] > are designed for people with bad credit. If you can't do a pre-paid plan, > then Verizon is probably right in their assumption. Even if someone did have really bad credit, I don't see why, in this day-and-age, you couldn't have a cap on the phone's usage that would eliminate the need for such a large deposit. For example, why couldn't they set up the account so that, once it's reached a certain number of billable minutes, it no longer works until further payment is made? Seems to me a deposit shouldn't have to exceed the cost of the phone plus two month's contract payments. Kind of like how you often need to pay first & last-month's rent to move into an apartment. I'd think it easier to control potential liability with a phone than an apartment. --Mike-- Chain Reaction Bicycles http://www.ChainReactionBicycles.com > How bad is your credit rating? I'm not being smug here, I'm just asking, and > I suppose you need to ask yourself the same question. Three phone lines is a [quoted text clipped - 153 lines] > > sheeeesh! credit should have NOTHING to do with wireless. reasonable??? > > risks?? > Even if someone did have really bad credit, I don't see why, in this > day-and-age, you couldn't have a cap on the phone's usage that would [quoted text clipped - 6 lines] > & last-month's rent to move into an apartment. I'd think it easier to > control potential liability with a phone than an apartment. Thats assuming you want their business. $1000 deposit is there to chase away those whose business you'd rather not have. > Thats assuming you want their business. $1000 deposit is there to chase > away those whose business you'd rather not have. Are there not prisons or work houses for these people with bad credit? > > Thats assuming you want their business. $1000 deposit is there to chase > > away those whose business you'd rather not have. > > Are there not prisons or work houses for these people with bad credit? Are you worried now? >> Are there not prisons or work houses for these people with bad credit? > >Are you worried now? He need not worry. Bad credit only affects your ability to participate fully in the economy. It means that you will be marginalized to not owning a home and haveing to pay 3 times Blue Book for a raggedy car from a "we finance anybody" car lot. It means that you will have to pay huge deposits for things like cell phones, apartments and utilities. While there are worse things than bad credit (like terminal cancer), bad credit is a terrible way to live. I have seen what it has done to a few of my family members and it ain't a pretty picture. If your FICO score is under about 650, you have bad credit. I deal with credit alot and I will not touch anybody under 600 and if you are under 700, expect to pay 2 month's deposit. > Thats assuming you want their business. $1000 deposit is there to chase > away those whose business you'd rather not have. As much as I hate agreeing with Robert M. Phillipe, I've got to agree- $1000 is VZW's highest deposit. They simply don't want Old Lurker. In my experience, the max deposits are usually aimed at those who've left utility companies (cellular, telephone, electric, etc.) "holding the bag" in the past. The cellular companies' credit checks (at least when I used to be a cellular dealer) seem to penalize folks for utility charge-offs more than, say, a car dealer's credit check would, for obvious reasons. >As much as I hate agreeing with Robert M. Phillipe, I've got to agree- >$1000 is VZW's highest deposit. They simply don't want Old Lurker. [quoted text clipped - 4 lines] >utility charge-offs more than, say, a car dealer's credit check would, >for obvious reasons. Well they damn well should! I mean if you burned company A and maybe company B, you will burn company C. It is a 99% probability! >For example, why couldn't they >set up the account so that, once it's reached a certain number of billable >minutes, it no longer works until further payment is made? That is EXACTLY what we call Pre-Pay in this country. Although what we typically call Post-Pay is really Pre-Pay as you are billed for your monthly minutes in advance, the carriers are taking a chance in that you could conceivably go way over your monthly alotment. Thus the need for good credit! -- John S. e-mail responses to - john at kiana dot net > For example, why couldn't they >set up the account so that, once it's reached a certain number of billable >minutes, it no longer works until further payment is made? They have. It is called pre paid. > > For example, why couldn't they > >set up the account so that, once it's reached a certain number of billable > >minutes, it no longer works until further payment is made? > > They have. It is called pre paid. Cingular (actually SBMS in the pre-Cingular days) had a plan called "balance checker"- if you were assessed a deposit of $375 or less (our OP here wouldn't qualify) you could have the deposit waived if you took the balance checker plan- you paid $10/month over what the plan you chose normally cost, and your phone would be shut off if your balance hit $80 until you paid it down. |
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