sprint/credit approval

This may seem like a moronic question, but I'll ask it anyway. I need
to purchase a cell phone/cell phone plan and was wondering how stringent
the credit checks are from Sprint/providers across the board? If someone
were to have A+ credit, but just lost their job two weeks ago, would
they still be approved. Do they even check current employment? Or is it
just based on credit rating? It's not like I'd be applying for a
mortgage or financing a vehicle.

I realize there are pre-paid plans out there as well. I checked into
T-mobile's pre-paid plan (which seems to be one of the better ones out
there), but they lack coverage in my area.

I'm asking on this forum because the Sprint Fair & Flexible would
probably best suit my needs after comparing plans from various
providers.

". ." <KyleKorver@webtv.net> wrote in message
news:19562-446206E8-36@storefull-3231.bay.webtv.net...
> This may seem like a moronic question, but I'll ask it anyway. I need
> to purchase a cell phone/cell phone plan and was wondering how stringent
> the credit checks are from Sprint/providers across the board? If someone
> were to have A+ credit, but just lost their job two weeks ago, would
> they still be approved. Do they even check current employment? Or is it
> just based on credit rating? It's not like I'd be applying for a
> mortgage or financing a vehicle.
>
> I realize there are pre-paid plans out there as well. I checked into
> T-mobile's pre-paid plan (which seems to be one of the better ones out
> there), but they lack coverage in my area.
>
> I'm asking on this forum because the Sprint Fair & Flexible would
> probably best suit my needs after comparing plans from various
> providers.
>

They probably just use a credit score. Many creditors have switched to that
for three reasons:

1: It allows for an instant answer. The creditor sets the threshold that
the applicant must meet, and the credit score either makes the cut or it
doesn't.

2: Credit scores do not take gender, marital status or race into account,
and thus insulate creditors from being charged with employing discriminatory
credit-granting criteria. Credit scores do not require the subjective
analysis of each individual's credit history. It is simply a number, and
you either measure up or you don't.

3: It is cheap, and it does not require creditors to keep a large staff of
credit analysts on the payroll to evaluate individual credit reports.

Most creditors will not disclose what your credit score must be in order to
qualify. Also, if you report that you just lost your job, that information
on your application will find its way into the credit bureau, and it will
adversely affect your credit score.

It is virtually certain that Sprint will not bother employing people to
check your employment status. That is too costly, given the amount of risk.
If you don't pay they can shut you off. That is far different than if you
were buying a big-ticket item.

.. . wrote:
> This may seem like a moronic question, but I'll ask it anyway. I need
> to purchase a cell phone/cell phone plan and was wondering how stringent
> the credit checks are from Sprint/providers across the board? If someone
> were to have A+ credit, but just lost their job two weeks ago, would
> they still be approved. Do they even check current employment? Or is it
> just based on credit rating? It's not like I'd be applying for a
> mortgage or financing a vehicle.
>

Since credit approval/rejection is given on the spot, I assume that
Sprint just pull up your credit score. I doubt that they even look at
the actual report itself. In general, cellular providers are quite
liberal with their credit policies.

.. . wrote:
> This may seem like a moronic question, but I'll ask it anyway. I need
> to purchase a cell phone/cell phone plan and was wondering how stringent
> the credit checks are from Sprint/providers across the board?

Sprint is actually one of the most lenient among the cell carriers, and
always has been. If you have terrible credit, in most cases Sprint will
still extend credit and give you an account.

The caveat is that subprime credit customers that Sprint chooses to
extend credit to will have an "account spending limit" applied to their
account. This means that at any given time, your account cannot have a
balance that goes over this limit. If you do, your service is shut off
until you pay enough of the balance to be back under the limit.

Typically it seems like account sending limits tend to be around $250 if
your credit is not great, and $125 if it's really, really bad.

Also, I tend to put in this warning when people start talking about sub
prime credit and obtaining service with Sprint: the Account Spending
Limit does NOT mean your account is like a credit card. The best way to
build credit is to pay the bill each month in full, and on time (even
early if you can)... not by paying "just enough" to have a balance that
just shaves by the limit. So many people on ASL accounts complain that
their service is frequently cut off. Nine times out of ten it's because
they thought the ASL was carte blanche to leave a past due balance on
the account, so long as it's "under the limit."

> If someone
> were to have A+ credit, but just lost their job two weeks ago, would
> they still be approved. Do they even check current employment?

You're very likely to be approved. AFAIK, Sprint does not check
employment status. I don't even remembering it being on the credit app
that I filled out. As long as you don't have any delinquencies
reported, you should be fine.

> I realize there are pre-paid plans out there as well. I checked into
> T-mobile's pre-paid plan (which seems to be one of the better ones out
> there), but they lack coverage in my area.

Typically, pre-paid plans are set up to nickel and dime you enough that
they're not worthwhile, UNLESS you use the phone very infrequently. For
even regular causal users (say around 100 peak minutes a month),
postpaid is still often the way to go).


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