@scanman1 wrote:
I did 10 of those type shops and made a route out of it, but it was for a prepay phone.
No credit pull and no contract. Just lots of money out of pocket till I did the returns.
If you have to take a credit hit and sign a 2 year contract in your name, then it's legally binding.
If the MSC falls down on you, your legally bound to the contract. I'd have to pass on this one.
@bgriffin wrote:
If it was a client shop the client could remove the credit inquiry after the shop was reported. That they are unwilling to do this tells me it is likely, although not positively, a competitor shop. Like any other item reported to a credit agency credit inquiries are also able to be removed by the reporting company. Also they are requiring someone with a 720 or higher score. 720 and above is the highest tier, as in you won't get a better interest rate if you have a 800 instead of a 790. Anything above 720 is the same as any other number above 720 for scoring purposes. A credit inquiry is likely to move your credit score less than 10 points, meaning unless you are below 730 and unless you are planning to purchase a house or car it will have no affect on your every day life. I seriously don't understand why people make such a huge deal over it.
@N-TownShopper wrote:
My concern wouldn't be the credit hit, for reasons bgriffin already stated.
What keeps me from doing these are the signing of a contract. If I returned the phone and cancelled the contract, wouldn't I have to pay a termination fee? They don't state they will reimburse for that, only a restocking fee for the phone.