Question about cell phone provider deposits?

Question

If you go to a Verizon or AT&T store, and they tell you what deposit you have to pay, and you go back to the store a few weeks later, will the deposit still be the same? For example, if you went to an AT&T store today and they told you that your deposit would be 400.00....then you wait and go back about 2wks later, will the deposit still be the same? Also, with the deposits...are you paying for the phone? Or are you paying for the service? I had somebody tell me that the 400.00 is not for the iphone....the 400.00 deposit would still be the same if a regular old flip phone was purchased. Is that true?

evilattorney · Accepted Answer

The deposit is typically calculated based on your credit score, the phone you are getting and the plan you are getting.  The deposit is more for an iPhone and iPhone plan then on a simple flip phone with 450 minutes.  The requirement should not change in 2 weeks unless your credit score has had a major drop.

The security deposit is not for either the phone or the service.  It's collected so that the carrier has some protection in the event that you don't pay your bill.  You still have to pay for the phone and you still have to pay your monthly bill.  If you make your payments in full and on time for a year, you can usually ask for the deposit back.

Anonymous · Answer

The deposit will not change unless you credit rating changes drastically before you go back.  the deposit is neither for the service or the phone.  It is a guarantee of payment.  If you should let the account go unpaid then you forfeit your deposit

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Question about cell phone provider deposits?

2 Answers