Yes, I really wish they didn't do credit checks when extending credit.
Quote:
Originally Posted by solipsism
It in invasive, but necessary when you are buying something on credit. You are getting a device well under the wholesale price and getting service that you pay for at the end of the month.
Whatever, I still don't think it's necessary and I still think it's treating your customers like criminals right at the start of your relationship with them. Pretty shitty IMHO.
I'm perhaps 'scarred' by the process though. It took me two years once to clear a mistake on my credit record where a shop assistant had entered details wrongly when I was buying a sofa on interest free credit. My credit rating just said I'd applied and been refused credit three times. And I once had a CCJ on my record for someone else in the shared house I lived in that stopped me getting anything for 6 years. The credit scoring system most companies used is borked and I resent the fact I have to check up occasionally to see what mistakes are on mine.
Whatever, I still don't think it's necessary and I still think it's treating your customers like criminals right at the start of your relationship with them. Pretty shitty IMHO.
I'm perhaps 'scarred' by the process though. It took me two years once to clear a mistake on my credit record where a shop assistant had entered details wrongly when I was buying a sofa on interest free credit. My credit rating just said I'd applied and been refused credit three times. And I once had a CCJ on my record for someone else in the shared house I lived in that stopped me getting anything for 6 years. The credit scoring system most companies used is borked and I resent the fact I have to check up occasionally to see what mistakes are on mine.
You could instead buy everything outright, forefoing credit in most cases. Truth be told, I am not a fan or credit and do that for most purchases.
If AT&T didn't check credit they would be swidled out of millions. How else is the company going to protect itself when it's giving you a product and service before you are paying for it? It's not a perfect system and there are people who fall through the cracks because of other's mistakes, but as a general rule it does work.
PS: As a general rule, they are finding a correlation between responsible driving and ones credit score. So it appears that it is being used to help determine how much to charge a customer for car insurance.
You could instead buy everything outright, forefoing credit in most cases. Truth be told, I am not a fan or credit and do that for most purchases.
If AT&T didn't check credit they would be swidled out of millions. How else is the company going to protect itself when it's giving you a product and service before you are paying for it? It's not a perfect system and there are people who fall through the cracks because of other's mistakes, but as a general rule it does work.
PS: As a general rule, they are finding a correlation between responsible driving and ones credit score. So it appears that it is being used to help determine how much to charge a customer for car insurance.
The problem then is that even if you paid the phone subsidy (allegedly $352) up front plus AT&T's profit on the sale which would equate to the 'credit' part of the deal, they'd not reduce the monthly contract terms so you'd still be paying full whack each month for the service so you don't really win by avoiding credit.
This is especially true of the iPhone where you have to sign up to iPhone tariffs to use some of the features of the phone.
Sorry if I'm in 'phone carriers are bastards' mode but IME they're up there with estate agents for first against the wall come the revolution.
The problem then is that even if you paid the phone subsidy (allegedly $352) up front plus AT&T's profit on the sale which would equate to the 'credit' part of the deal, they'd not reduce the monthly contract terms so you'd still be paying full whack each month for the service so you don't really win by avoiding credit.
This is especially true of the iPhone where you have to sign up to iPhone tariffs to use some of the features of the phone.
Sorry if I'm in 'phone carriers are bastards' mode but IME they're up there with estate agents for first against the wall come the revolution.
They are bastards! And if you go with an unsubsidized handset on a plan that you pay up front you are charged even more money. I suppose it's because they typically have a lot of turn over with this customers that the charges are higher, but it does seem proportionally high. I suppose the same price for plans when you buy a device outright could use the same theory as to why there are no price breaks
PS: My biggest issue with AT&T is that I get unlimited/unlimited data but only 200 SMS messages. Not that I use them much, but it strikes me as odd since a 160 character SMS is a lot smaller than the email header I sent from iPhone constantly, much less than viewing a webpage, making a call or view a YouTube video. It could be argued that this practice of charging unreasonable rates for SMS is an illegal price gouging tactic that could be made into a class action lawsuit.
Comments
Yes, I really wish they didn't do credit checks when extending credit.
It in invasive, but necessary when you are buying something on credit. You are getting a device well under the wholesale price and getting service that you pay for at the end of the month.
Whatever, I still don't think it's necessary and I still think it's treating your customers like criminals right at the start of your relationship with them. Pretty shitty IMHO.
I'm perhaps 'scarred' by the process though. It took me two years once to clear a mistake on my credit record where a shop assistant had entered details wrongly when I was buying a sofa on interest free credit. My credit rating just said I'd applied and been refused credit three times. And I once had a CCJ on my record for someone else in the shared house I lived in that stopped me getting anything for 6 years. The credit scoring system most companies used is borked and I resent the fact I have to check up occasionally to see what mistakes are on mine.
Whatever, I still don't think it's necessary and I still think it's treating your customers like criminals right at the start of your relationship with them. Pretty shitty IMHO.
I'm perhaps 'scarred' by the process though. It took me two years once to clear a mistake on my credit record where a shop assistant had entered details wrongly when I was buying a sofa on interest free credit. My credit rating just said I'd applied and been refused credit three times. And I once had a CCJ on my record for someone else in the shared house I lived in that stopped me getting anything for 6 years. The credit scoring system most companies used is borked and I resent the fact I have to check up occasionally to see what mistakes are on mine.
You could instead buy everything outright, forefoing credit in most cases. Truth be told, I am not a fan or credit and do that for most purchases.
If AT&T didn't check credit they would be swidled out of millions. How else is the company going to protect itself when it's giving you a product and service before you are paying for it? It's not a perfect system and there are people who fall through the cracks because of other's mistakes, but as a general rule it does work.
PS: As a general rule, they are finding a correlation between responsible driving and ones credit score. So it appears that it is being used to help determine how much to charge a customer for car insurance.
You could instead buy everything outright, forefoing credit in most cases. Truth be told, I am not a fan or credit and do that for most purchases.
If AT&T didn't check credit they would be swidled out of millions. How else is the company going to protect itself when it's giving you a product and service before you are paying for it? It's not a perfect system and there are people who fall through the cracks because of other's mistakes, but as a general rule it does work.
PS: As a general rule, they are finding a correlation between responsible driving and ones credit score. So it appears that it is being used to help determine how much to charge a customer for car insurance.
The problem then is that even if you paid the phone subsidy (allegedly $352) up front plus AT&T's profit on the sale which would equate to the 'credit' part of the deal, they'd not reduce the monthly contract terms so you'd still be paying full whack each month for the service so you don't really win by avoiding credit.
This is especially true of the iPhone where you have to sign up to iPhone tariffs to use some of the features of the phone.
Sorry if I'm in 'phone carriers are bastards' mode but IME they're up there with estate agents for first against the wall come the revolution.
The problem then is that even if you paid the phone subsidy (allegedly $352) up front plus AT&T's profit on the sale which would equate to the 'credit' part of the deal, they'd not reduce the monthly contract terms so you'd still be paying full whack each month for the service so you don't really win by avoiding credit.
This is especially true of the iPhone where you have to sign up to iPhone tariffs to use some of the features of the phone.
Sorry if I'm in 'phone carriers are bastards' mode but IME they're up there with estate agents for first against the wall come the revolution.
They are bastards! And if you go with an unsubsidized handset on a plan that you pay up front you are charged even more money. I suppose it's because they typically have a lot of turn over with this customers that the charges are higher, but it does seem proportionally high. I suppose the same price for plans when you buy a device outright could use the same theory as to why there are no price breaks
PS: My biggest issue with AT&T is that I get unlimited/unlimited data but only 200 SMS messages. Not that I use them much, but it strikes me as odd since a 160 character SMS is a lot smaller than the email header I sent from iPhone constantly, much less than viewing a webpage, making a call or view a YouTube video. It could be argued that this practice of charging unreasonable rates for SMS is an illegal price gouging tactic that could be made into a class action lawsuit.