Hello, I have about 7 hard credit checks from cell phone companies running my credit each time I go out and get a phone. I purchase and return a lot of phones to do review or just to check them out and it seems to have taken a toll on my credit (I know its only 10% but its still a lot).
Is there anyway to get them removed? I don't see why they are even marked as hard since its not in-regards to credit or any type of credit card or loan...
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They are loaning you the phone for a fraction of what it costs in exchange for you agreeing to pay phone service that recovers their losses on the phone.
When you buy an iPhone for $200, it really cost Apple closer to $400 or $500 to make. So they make you sign a contract for a phone plan that has an extra $20 or $30 per month in the bill to recover their costs over the 2 year contract. If you break the contract theres a ETF to recover their losses on the phone.
So if you buy the phone for $200 and skip town, they lost $300 on you. The credit check is to make sure you havnt skipped town on other phone providers and to give you accountability so you don't do it in the future.
As per your phone review job, it sounds like you are running a blog that 5 people read. If you were a real reviewer, the companies would send you phones for free.
tripleB said: As per your phone review job, it sounds like you are running a blog that 5 people read. If you were a real reviewer, the companies would send you phones for free.
Sounds more like someone who just wants the latest phone and justifies it by "doing reviews"
SUCKISSTAPLES said:tripleB said: As per your phone review job, it sounds like you are running a blog that 5 people read. If you were a real reviewer, the companies would send you phones for free.
Sounds more like someone who just wants the latest phone and justifies it by "doing reviews"
Yep pretty much, I enjoy checking out the new phones. I always pay the bill though in the end which doesn't amount to much.
I guess I'll have to wait a year then for these hard pulls to not count!
thursdasy said:I don't see why they are even marked as hard since its not in-regards to credit or any type of credit card or loanAllowing you to make calls each month and pay later is a loan; post-paid telephone service is a short-term loan. You are getting something now, and paying for it later (a month later in this case)
Message edited by: xoneinax on 2009-11-06 21:14:50 CST
xoneinax said:thursdasy said:I don't see why they are even marked as hard since its not in-regards to credit or any type of credit card or loanAllowing you to make calls each month and pay later is a loan; post-paid telephone service is a short-term loan
But why is it a loan if she is not borrowing money???
tripleB said:But why is it a loan if she is not borrowing money???they are loaning him service, the ability to make long distance calls, etc
A loan does not have to mean money, evidently. Of course we dont do it, but technically, once they activate my account and hand me that phone, I could call Afghanistan for the next 20,000 minutes and they are loaning me that ability. It is a liability.
Message edited by: xoneinax on 2009-11-06 21:19:47 CST
xoneinax said:tripleB said:But why is it a loan if she is not borrowing money???they are loaning him service, the ability to make long distance calls, etc
A loan does not have to mean money, evidently. Of course we dont do it, but technically, once they activate my account and hand me that phone, I could call Afghanistan for the next 20,000 minutes and they are loaning me that ability. It is a liability.
thursdasy said:Hello, I have about 7 hard credit checks from cell phone companies running my credit each time I go out and get a phone. I purchase and return a lot of phones to do review or just to check them out and it seems to have taken a toll on my credit (I know its only 10% but its still a lot).
Is there anyway to get them removed? I don't see why they are even marked as hard since its not in-regards to credit or any type of credit card or loan...
tripleB said:When you buy an iPhone for $200, it really cost Apple closer to $400 or $500 to make. So they make you sign a contract for a phone plan that has an extra $20 or $30 per month in the bill to recover their costs over the 2 year contract. If you break the contract theres a ETF to recover their losses on the phone.
The phone costs $400 or $500 to make? I would think that someone like TripleB would know better than that! I have read articles stating that the $200 iPhone (3GS model currently at that price point) that you mention costs less than $200 to manufacture when you take into account the parts as well as manufacturing costs.
Besides...one could easily figure that it would cost far, far less to make than the "retail" price: the "$299" (new customer with 2-yr contract) 32GB iPhone 3GS costs $699 with "no commitment"/unsubsidized. However, one can buy a 32GB iPod Touch, which is essentially the same device with no phone component, for $299 (obviously with no contract). It's downright asinine to claim that the cost of the parts to add the phone functionality (GSM radio, speaker/microphone, software and casing modifications) are worth anywhere NEAR $400, or 133% of the cost of the 32GB Touch. (And almost forgot to mention: Apple receives revenue from AT&T for every month you pay for iPhone service.)
And especially when you take into consideration that you are paying far, far more for a device that is only usable on AT&T's network (and where it's technically illegal to modify it to change this), it's absolutely insane. I guess that BBB is right when he said that they're "loaning" you the phone, since it's really not your phone to use how you want to use anymore. It's analogous to how companies like AT&T (ironically) forced subscribers to rent out phones back in the 1960s, and would inspect customers' phone lines to ensure they were not using more phones on the line than they were supposed to.
Message edited by: scottxmso on 2009-11-07 00:07:50 CST
tripleB said:They are loaning you the phone for a fraction of what it costs in exchange for you agreeing to pay phone service that recovers their losses on the phone.
When you buy an iPhone for $200, it really cost Apple closer to $400 or $500 to make. So they make you sign a contract for a phone plan that has an extra $20 or $30 per month in the bill to recover their costs over the 2 year contract. If you break the contract theres a ETF to recover their losses on the phone.
So if you buy the phone for $200 and skip town, they lost $300 on you. The credit check is to make sure you havnt skipped town on other phone providers and to give you accountability so you don't do it in the future.
As per your phone review job, it sounds like you are running a blog that 5 people read. If you were a real reviewer, the companies would send you phones for free.
OMG, I greened a tripleB post.... I feel like a committed a crime!
Technologist said:*sitting back, waiting for retmil to slide by and red this.... as soon as he gets the email that immediately tells him that I have posted!*LOL
The phone costs $400 or $500 to make? I would think that someone like TripleB would know better than that! I have read articles stating that the $200 iPhone (3GS model currently at that price point) that you mention costs less than $200 to manufacture when you take into account the parts as well as manufacturing costs.
Yeah, the phone developed itself and Apple's operational costs are covered by donor contributions.
OP, you know that you can buy the phones outright for RETAIL price without giving any of your personal account information. Thats what I imagine people who are not given the phone by the company to review, do !
Those breakdowns only include parts costs. It's not asinine to assume Apple's cost is around $400-500, it's asinine to say it's the exact same as the parts cost.
The iPod Touch is at that price point because it borrows so heavily from the iPhone. They're letting the carrier subsidy for the iPhone effectively support development so they can offer the Touch cheaper.
Apple has to sell the phone to AT&T at a price that makes a profit, AT&T has to sell it to you at a price that makes a profit. They wouldn't be around long if they didn't.
barbcole said:Those breakdowns only include parts costs. It's not asinine to assume Apple's cost is around $400-500, it's asinine to say it's the exact same as the parts cost.
The iPod Touch is at that price point because it borrows so heavily from the iPhone. They're letting the carrier subsidy for the iPhone effectively support development so they can offer the Touch cheaper.
Apple has to sell the phone to AT&T at a price that makes a profit, AT&T has to sell it to you at a price that makes a profit. They wouldn't be around long if they didn't.
Yeh, but at the wholesale/manufacturing level, the business would not pay significantly more than the parts cost. Maybe a little more plus shipping and stuff, but certainly not close to Retail
scottxmso said: The phone costs $400 or $500 to make? I would think that someone like TripleB would know better than that! I have read articles stating that the $200 iPhone (3GS model currently at that price point) that you mention costs less than $200 to manufacture when you take into account the parts as well as manufacturing costs.
This is the same argument that people make against evil pharmaceutical companies. Why should they charge $50 per pill that costs them 20 cents in raw chemicals to make? Add in another nickel for shipping and they are still overcharging by $49.75 per pill. Ignore the hundreds of millions of dollars in research for drugs that never pass FDA approval.
Research and Development costs typically run about 10% of gross revenue for most tech companies. Add in marketing costs.
That iPhone that cost $200 in parts really cost $400 when you average in the $500 Million R&D and marketing costs over the number of each unit sold.
Message edited by: tripleB on 2009-11-07 11:17:33 CST
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