Great Credit, Unnecessary $750 Depost?

Contributor

Great Credit, Unnecessary $750 Depost?

I've been an AT&T Wireless user via my company's plan for over 10 years.  This week, I'm attempting to move my phone number into a personal plan.  After going through the process with a representative, I was told that I needed to put down a $750 deposit.  I have stellar credit.  I work very hard to keep my credit report clean, so being told that I needed to provide such a high deposit was a shock.

 

I was told that I could reach out to Equifax and find out what on my credit report was the issue.  I ordered a report and spoke to someone at Equifax who confirmed that my credit is great and there is nothing suspect in it that would have been reported to AT&T with their "soft" check.

 

After looking on forums here and in other places, where people with reportedly worse credit have opened accounts with smaller deposits, it appears that AT&T just wants me to loan them $750 for a year simply because they think I CAN due to have a great credit history.

 

Anyone else with similar stories?  I wasn't planning on having to purchase a new phone on a new carrier, but it looks like that might be my best option at this point to be able to retain my phone number.

 

Message 1 of 11 (1,862 Views)
Expert

Re: Great Credit, Unnecessary $750 Depost?

curious how far back and how extensive is your credit report? Length of credit history is sometimes taken into account as is credit limit vs debt - for example if you have 1000.00 of available credit and your are using a large portion of that it can affect decisions also

Message 2 of 11 (1,849 Views)
Contributor

Re: Great Credit, Unnecessary $750 Depost?

It was more than 10 years of credit history, which should be sufficient for anyone. 

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Expert

Re: Great Credit, Unnecessary $750 Depost?


jkcrothers wrote:

It was more than 10 years of credit history, which should be sufficient for anyone. 


they donlt only take into account att, they and all companies that check credit report judge by everything that is on your credit report

Besides you stated "I've been an AT&T Wireless user via my company's plan for over 10 years. This week, I'm attempting to move my phone number into a personal plan." - if that is the 10 years you are referencing, unless the account was in your name alone it is not reflected on your report and is not taken into account by the carrier

Message 4 of 11 (1,810 Views)
Highlighted
Contributor

Re: Great Credit, Unnecessary $750 Depost?

I'm saying that my general credit report has over 10 years of history, period.  Not with AT&T Wireless, but with every other company I've done business with, including AT&T for my home service. I can get a mortgage, buy a car, etc, yet AT&T feels my credit isn't good enough to do business with them.

 

Their excuse is that Equifax has reported something questionable, but I've spoken with Equifax and that's not the case.

Message 5 of 11 (1,807 Views)
Expert

Re: Great Credit, Unnecessary $750 Depost?


jkcrothers wrote:

I'm saying that my general credit report has over 10 years of history, period.  Not with AT&T Wireless, but with every other company I've done business with, including AT&T for my home service. I can get a mortgage, buy a car, etc, yet AT&T feels my credit isn't good enough to do business with them.

 

Their excuse is that Equifax has reported something questionable, but I've spoken with Equifax and that's not the case.


check the other two, have you actually requested your reports from the 3 organizations and reviewed them or just called them, I personally don;t trust their people to go through the report line by line.

Message 6 of 11 (1,757 Views)
Contributor

Re: Great Credit, Unnecessary $750 Depost?

I have run into the same issue and no one at AT&T can give me a straight answer. I have excellent credit history that is over 10 years old, I ran all 3 credit reports because AT&T wanted me to put down $1000 deposit for two wireless lines. Their inquiry hit my Equifax as a hard inquiry - I have a credit score of 819 with Equifax.

 

The problem is that they are likely basing it on data that they get from an exchange server, there is another company called The National Consumer Telecom & Utilities Exchange (NCTUE) that is managed by Equifax but no one at AT&T seems to know anything about it other than this phone number they provided me 1-866-349-5185. This company has no data file on me at all and I'm deducing it's because when I married I moved in with my husband I haven't had any utility or telecom accounts in my name for 10 years.

 

I emailed AT&T, NCTUE & Equifax to complain about this issue -- I've only heard back from NCTUE & Equifax, silence from AT&T and I also posted on their Facebook page.

 

What is upsetting to me is they did check my file with Equifax and if they are basing my credit worthiness on Equifax's information then I should not have to pay a deposit. But I believe they are basing the information off of NCTUE, but no one will verify or tell you this or explain how to resolve the issue. The last I spoke with a customer service rep today she attempted to contact AT&T's internal credit department and they said I must have a thin credit file with Equifax (again no mention of NCTUE), but my 20 page credit report is sitting in front of me with auto loans, mortgages, credit cards, student loans going back 10 years - so the thin credit file is a non-answer.

 

At this point I'm pretty frustrated, no one can tell me anything and no one is getting back to me via email or on Facebook.

Message 7 of 11 (1,438 Views)
Guru

Re: Great Credit, Unnecessary $750 Depost?

[ Edited ]

For ones that have good credit and still require a high deposit, I definitely suggest you go to http://www.nctue.com/consumer and request a full disclosure report. The stuff in here is different from the regular credit report. This would explain why people with bad or low credit can still get lines with no deposit.

Message 8 of 11 (1,415 Views)
Contributor

Re: Great Credit, Unnecessary $750 Depost?

We ran into the same problem recently with AT&T when attempting to change from Verizon Wireless.  I have credit reporting with equifax, so when the AT&T rep said that I would have to put down a $500 deposit, I checked both by report and my score.  My credit score is 800 according to Equifax and 799 according to Experian (Transunion was not forthcoming).  I received a letter from AT&T saying my NCTUE score was 961 out of 999 (I can't find anywhere whether 0 is the best score or 999).  After speaking to a supervisor in the AT&T credit section, I was bewildered that any business would be run in this fashion.  Even the supervisor said that they just put the information in and use whatever comes out.  It is one of the worst business models I know of, not to mention a public relations nightmare.  I have requested a report frrom NCTUE, something I never even knew existed until recently.  But I am flabbergasted by this whole thing.  I was speaking to a colleague and she said she has a credit score of "like 3" and she still was able to get AT&T phones with no deposit.

 

I will not be staying with VZW most likely, but I will definitely NOT be going with AT&T if this is what they consider Customer service!!

Message 9 of 11 (707 Views)
ACE - Expert

Re: Great Credit, Unnecessary $750 Depost?


tzucker wrote:

We ran into the same problem recently with AT&T when attempting to change from Verizon Wireless.  I have credit reporting with equifax, so when the AT&T rep said that I would have to put down a $500 deposit, I checked both by report and my score.  My credit score is 800 according to Equifax and 799 according to Experian (Transunion was not forthcoming).  I received a letter from AT&T saying my NCTUE score was 961 out of 999 (I can't find anywhere whether 0 is the best score or 999).  After speaking to a supervisor in the AT&T credit section, I was bewildered that any business would be run in this fashion.  Even the supervisor said that they just put the information in and use whatever comes out.  It is one of the worst business models I know of, not to mention a public relations nightmare.  I have requested a report frrom NCTUE, something I never even knew existed until recently.  But I am flabbergasted by this whole thing.  I was speaking to a colleague and she said she has a credit score of "like 3" and she still was able to get AT&T phones with no deposit.

.......The in store credit numbers are a bit nebulous.   A "3" score is on a different scale, not the same as the credit reporting agencies.   This in store numbering system is just for customer privacy.  

 

I will not be staying with VZW most likely, but I will definitely NOT be going with AT&T if this is what they consider Customer service!!


Make a choice based on coverage.  None of the cell providers are rock steady right now, and won't be until the competition settles down.

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Message 10 of 11 (702 Views)
Contributor

Re: Great Credit, Unnecessary $750 Depost?

I would make a choice based on coverage - it was AT&T - but now I can't reasonably go with them.  The customer support is awful and they don't respond via social media either.  AT&T absolutely refused to disclose what might affect my getting credit - just a nebulous "it is not only your credit score, we use other factors."  It was not until I got the letter from NCTUE through AT&T that I even knew what to look for.

 

I will be looking into T-Mobile and Sprint, even if I don't like their coverage as much.

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