iPhone XAre you counting down the days to your next iPhone upgrade? If you are a fanboy drooling over the new iPhone one thing you might not be thinking about is unfreezing your credit. Well if you are one of the 143 million Americans who was affected by the recent Equifax security breach you may have one small problem. If you took the advice of the credit bureaus and froze your credit, you will need to unfreeze it in order to upgrade your phone if you finance it through Apple. Apple’s iPhone Upgrade Program Terms & Conditions section 9 subsection 1 states, “Credit check required. The iPhone Upgrade Program is available to qualified end-user customers only.” If you buy the phone with cash or a credit card without financing, this credit check will not apply.

Unfreeze Credit for iPhone Upgrade

So if you want to get the new iPhone X without incident you should be planning ahead to unfreeze your credit. Citizens Bank (aka Citizens One Bank), the company Apple uses for upgrade financing uses the Equifax credit bureau. This means you will only need to unfreeze your credit at Equifax to allow the credit check. To unfreeze credit you will need to allow up to three days for Equifax to process the request. You can temporarily unfreeze your credit by calling or visiting the website. You will need the PIN you received when you froze it to verify your identity.

It should be noted that as part of the upgrade program, this is a hard credit inquiry. You are getting a 0% installment loan from Citizens Bank.

If You Haven’t Yet, Freeze Your Credit

A security freeze, also known as a credit freeze or a credit block, is a formal process where you can lock the ability to add new credit accounts like credit cards, loans, and accounts to your credit. The terms security freeze and credit freeze are synonymous and are used interchangeably from one credit bureau to another. A major step in becoming a credit expert is understanding credit freezes and using them wisely.

Freezing your credit is easy. We have created a guide for each of the three major credit bureaus here on this site. Each guide walks you through the setup process and tells you what to expect. You must follow the process for each credit bureau. There is no “easy button” for this process, unfortunately. The time you spend completing these setup processes is invaluable. A few minutes out of your day today can save you an immeasurable headache and anguish tomorrow. Freezes are a credit expert move!


Kb · September 19, 2017 at 1:58 am

Apple does iPhone upgrade program through citizens one bank, not Barclays

    chief · September 19, 2017 at 5:03 pm

    Thank you, the article has been updated.

Comments are closed.

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