There's no minimum credit score to get a mobile phone contract. But your contract provider will look at your credit report to make a decision on whether they will accept you as a customer. This decision will be based on the details of your credit report and the specifics of the deal they're offering.
Anything above 750 is considered excellent credit. You're still in the clear if you have a credit rating of at least 600 though. This will qualify you for most cell phone plans. You might encounter situations where the negative factors on your credit report impact your ability to qualify for a mobile phone contract.
Apple Card uses FICO Score 9. FICO Score 9 ranges from 300 to 850, with scores above 660 considered favorable for credit approval.
At a Glance:
Phone companies consider a credit score below 600 as “bad” credit, although specific criteria may vary. For example, Sprint considers a credit score of 700 and above as “excellent” and anything below 550 as “fair.” AT&T may require a deposit for credit scores below 600.
Since 600 is considered to be a fair credit score, borrowers with this score generally won't qualify for credit cards with large welcome bonuses, generous rewards and perks or low APRs. However, there are still some options available — using a secured card or becoming an authorized user on someone else's card.
The easiest phone companies to be approved for are those not requiring credit checks, as you'll automatically qualify – as long as you can afford the deal. These are mostly the lower-cost networks that offer SIM-only deals like giffgaff, SMARTY, Asda Mobile, Lycamobile and Lebara.
If your credit score is low
Goldman Sachs evaluates your Apple Card application using TransUnion and other credit bureaus. If your credit score is low (for example, if your FICO® Score 9 is lower than 600),6 Goldman Sachs might be unable to approve your Apple Card application.
In a major redevelopment of the FICO® Score using sophisticated modelling techniques to mine trends in recent consumer data, FICO Score 9 gives lenders the most predictive FICO Score to date, and minimizes operational hurdles associated with adoption and compliance.
To get approved for this card, you'll need to have a good credit score of at least 670, though having a higher one certainly won't hurt your chances.
We run a credit check to verify your identify and determine eligibility for service financing. Your security is our priority. We have enhanced our processes to protect your identity when running a credit check.
There's no minimum credit score required for a mobile phone contract and each provider has its own criteria, so even with a lower score, you may still qualify depending on other factors. A phone contract is a type of credit, just like a personal loan, credit card or mortgage.
What Credit Score Do You Need to Finance an iPhone? You'll generally need a credit score of at least 600 to qualify for iPhone financing. This requirement could be different for other carriers, though, and you could be approved if there are other factors that compensate for the lower score.
Banks in India use the TransUnion CIBIL, Experian, Equifax, or the CRIF High Mark score. Out of these, the TransUnion CIBIL score is the one that is used most commonly. All credit rating bureaus generate credit scores and reports which help lenders assess the creditworthiness of borrowers.
What is the highest credit score possible? To start off: No, it's not possible to have a 900 credit score in the United States. In some countries that use other models, like Canada, people could have a score of 900. The current scoring models in the U.S. have a maximum of 850.
The credit score used in mortgage applications
While the FICO® 8 model is the most widely used scoring model for general lending decisions, banks use the following FICO scores when you apply for a mortgage: FICO® Score 2 (Experian) FICO® Score 5 (Equifax) FICO® Score 4 (TransUnion)
Apple has said it wants the card to be widely available, suggesting that applicants don't need excellent credit (generally defined as a credit score of 720 or better). Credit cards in its class generally require at least good credit (690 or better).
Overall, Credit Karma may produce a different result than one or more of the three major credit bureaus directly. The slight differences in calculations between FICO and VantageScore can lead to significant variances in credit scores, making Credit Karma less accurate than most may appreciate.
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Is there a minimum credit score needed to purchase a cell phone? While there is no minimum credit score that will ensure a cell phone contract approval, providers may use your score to assess creditworthiness. A higher score may help you secure more preferable options.