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Thread: Verizon asking for deposit

  1. #1
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    Verizon asking for deposit

    If Verizon asked for a $400 deposit for the Droid Bionic, would that be a $400 deposit for any smartphone?

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    Yep, its not a deposit for the phone, they want to deposit for the service, doesnt matter what phone.

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    IIRC you will get it back in 1 year with good standing and on-time payments
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    Quote Originally Posted by Extraordinary View Post
    IIRC you will get it back in 1 year with good standing and on-time payments
    Indeed. Or if you port out/close account in good standing, it gets refunded at that time.

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    Quote Originally Posted by Joe12304 View Post
    Indeed. Or if you port out/close account in good standing, it gets refunded at that time.
    Although if you close your account within the first year, chances are that you would have an early termination fee to pay that would take a big portion of that deposit.

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    It's tied to your credit report, which they run when you sign up for service.
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    What if I bought the phone out right, full price month-month cost?
    Quote Originally Posted by fireredak View Post
    Yep, its not a deposit for the phone, they want to deposit for the service, doesnt matter what phone.

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    It doesn't matter. They will still require the deposit, as they are still giving you service and the ability to run up a massive bill, which you may or not pay.

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    When the year is up, do they send you a Visa debit card, like for the rebate, or do they credit it to your account?
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    Typically a credit for the deposit is applied to the account. If you want a check instead you have to call CS. It can take a couple of weeks to get it.

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    It's based on your credit score. Some people don't pay a deposit at all, so I hear.
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    I just signed up online. Bought a phone chose a plan they sent me the phone and a couple weeks later they sent me my first bill. No deposit. And 7 years ago I was all but destroyed financially after being hit by 2 hurricanes, other than that my credit was clean.

    But I was surprized to not have to pay a deposit. It was a 4 month period of time after hurricanes Frances and Jeanne that my credit was horrible. They didn't even ask about that period of time either.

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    Quote Originally Posted by pattyrn View Post
    I just signed up online. Bought a phone chose a plan they sent me the phone and a couple weeks later they sent me my first bill. No deposit. And 7 years ago I was all but destroyed financially after being hit by 2 hurricanes, other than that my credit was clean.

    But I was surprized to not have to pay a deposit. It was a 4 month period of time after hurricanes Frances and Jeanne that my credit was horrible. They didn't even ask about that period of time either.

    Sent from my SPH-P100 using HowardForums
    Possibly because it was only for a short period of time, and/or possibly because things on your credit report/score stick around for up to 7 years as I recall, so all that stuff might have not really applied any longer at this point.

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