Is Verizon Credit Check Hard Or Soft? Process For Checking Credit On Verizon Plus Their Plan Updates For 2021

Verizon Credit Check

Verizon’s credit check is hard. Whenever you sign-up for their post-paid plans, they will do a hard check on your credit. But, if you select the AllSet prepaid plan, they will not run any credit checks. Verizon makes deposit decisions and how much you’re going to pay based on credit file information.

Key Takeaways

  • Verizon performs a credit check to determine how much security they should charge you
  • A hard credit check results in a drop in your credit score and it is usually less than 5 points
  • The soft credit check is when you view your credit scores and it won’t affect your credit score
  • Verizon offers 24 monthly installments for buying a phone and there is no finance fee
  • Verizon Plan doesn’t have any activation or upgrade fees

What Does It Mean By Hard And Soft Credit Checks?

 Hard And Soft Credit Checks

A hard credit check refers to when creditors and lenders pull your credit score or report with your permission. 

It will affect your credit score because many hard inquiries may add up to multiple credit accounts.  You can be considered a suspicious individual who is either spending a lot of money or having trouble paying his bills. 

The soft credit check is when you view your credit scores or reports, or creditors check it for pre-approved offers though you didn’t grant permission. They don’t affect your credit scores.

The Process Of Checking Credit Requirements On Verizon

Are you interested in being one of the Verizon Wireless customers?  Here’s an overview of the process for checking your credit requirement, so you will be aware of what to expect.

Choose Your Device And Options

Start your credit application process by browsing Verizon’s selection of tablets, smartphones, or other devices that suit your lifestyle.

Add the new item to your cart and confirm your zip code. Also, whether you are a new or existing customer, you may choose to select an additional option such as Apple care, Total Mobile Protection (if need be), or saving on an accessory bundle for the new item. You can opt-in and out of each selection, then click continue.

It’s the first step, but they are a few steps remaining for you to get advice on the qualifying results in minutes for the Device Payment Program.

Pick Your Plan, Options And Enter Details.

Get yourself a good plan on the best network. You can choose between unlimited plans, Verizon plans ranging from 2GB to 8 GB, or the new Verizon plan single smartphone with 5GB. The new program enables 5GB sharing between one smartphone and the other two additional device types.

Add plan and click continue. Take your time to review and confirm your selection from your previous screens. If applicable, you can select trade-in your device and add an accessory. Click the checkout button to move on if you are satisfied with the review and your summary.

Enter the necessary information like your name, phone number, address, and email once you’re on the checkout screen. Then, you can opt-in or out of paper-free billing and conclude it by placing your shipping address and choosing the delivery options.

Enter Your Credit And Payment Information

The information you gave out is secure, and your privacy is protected. It takes a few minutes to run your credit.

With the qualifying results for their device payment program, they will direct you to continue. You might be routed to their prepaid page for additional options or prompted to purchase the item at its total retail price. Both of them allow you to experience and be part of the great network.

Agree, Complete, Then Confirm

While still on the phone and agreement page, you may confirm and complete the process. After that, you will have Verizon as the wireless provider of your choice.

Confirm the address and select the phone number you like; transfer the existing one or request a new one.

Accept Verizon’s terms and conditions, then click continue for the next step.

Complete your entire order by reviewing the summary for accuracy and clicking to complete the order.

Verizon Plan Updates For 2021: Understand The Credit Requirement And Fees Before Signing Up.

Verizon updated its offer recently to include a straightforward choice for customers- the Verizon Plan. This plan directly follows the Verizon edge plan. So if you love edge plans, you would also love the Verizon plan.

But, if you are after one of the “subsidized” contract plans, you will be forced to look elsewhere. Since Verizon no longer offers that plan, you pay $200 down on your phone and later pay back the rest of the subsidized cost over the contract term.

Now let’s look at the Verizon plan so you can know the credit requirements and fees before signing up.

Buying A Phone

If you sign up with Verizon, you can either choose to pay for the phone’s total cost right away or buy the phone in 24 monthly installments.

Be aware that your 2-years cost of ownership will probably be the same if you pay the phone upfront or over the 24-months payments. The noticeable difference is that you need to enter into a 2-years contract with Verizon when paying your phone in installments.

The monthly payment installments are determined by the phone cost you choose, and there is no upgrade or finance fee. The amount will add up to your monthly bill.

Early Upgrade With Verizon

There are two ways to upgrade your phone with Verizon.

The first upgrade happens after making half payment (i.e., 12 months) in your installment plan and trading in your phone. Which makes Verizon’s early upgrade program super expensive than those offered by major carriers.


Other carriers give you a discount to lease a phone, and Verizon does not.

The second option is to pay the total price upfront later resell your phone when you upgrade and buy a new phone.

Many customers who want to experience the Verizon network will most likely opt to stick with the phone for up to 2-years.

How Verizon Plan Works

After introducing the Verizon plan in 2015, they simplified phone buying prices and wireless plan options.

Here are the few basics of how it works?

1. No activation or upgrade fees

2. Pay the complete retail price of your phone upfront or in 24 monthly installments

3. $0 down of a smartphone specifically for eligible customers based on their credit check

4. All Verizon plans include unlimited talk and text

5. You only select the amount of data you require monthly

6. You need to pay an access fee for each device.

Verizon Wireless Data Plans

Verizon Wireless Data Plans

All its plans include unlimited talk and text. So you need to decide the amount of data you’ll need monthly.

Verizon makes suggestions for the size plans regarding the number of connected devices plus your monthly usage needs.

In addition to device payment and your monthly data cost, you will need to pay a monthly access fee for each device connected.

Current Verizon Pricing For Each Month Access Charges Is As Follows;

1. $ 20 per smartphone

2. $ 10 per hotspot or tablet

3. $ 5 for all other connected devices

It also includes the first phone on the plan, so you must pay the $20 monthly access fee.

How Much Will This Cost?

Verizon provides a 2-year cost of ownership based on two different scenarios. First is the individual plan with 3 GB of data monthly, assuming you purchase the latest 16 GB iPhone under an installment plan. 

The second is a shared 12 GB data plan, where you buy two latest iPhones under an installment plan. I6 GB iPhone is just an example.

Individual 3 GB Data Plan*

Phone: $27.08 monthly

Access Fee: $ 20 monthly

3 GB Data: $45 monthly

Monthly Total: $92

2-year Total: $2,210.

Family 12 GB data plan*

Phone: $54.16 monthly

Access Fee: $40 monthly

12 GB Data: $80 monthly

Monthly Total: $174

2-year Total: $4,180

Verizon charges a premium use of their top-rated network and 4GLTE speed.  

Verizon Credit Requirement And Eligibility

Verizon Wireless has a strict requirement as far as credit checks are concerned. They will run your credit score to check the level of debt you are currently managing. It doesn’t matter if you have a charged-off or collections account. Plus, payment history and the limits on those credit accounts.

A credit score below 650 might give you trouble in the approval process, or you may need to pay a large deposit. But, you can always choose to check into Verizon prepaid plans when you have bad credit, or you want a cheaper option without contract plans. 

Will I Need To Pay A Deposit When Subscribing To Verizon Services?

Depending on your credit history/scores, one of these three things will happen; denied the services, need to pay a deposit, or having no deposits at all.

The good news is that Verizon wireless denies a few applicants, and a recent bankruptcy on your record will not eliminate you. However, you might need to pay a high deposit.

Verizon wireless deposits range from $150-$1,000; the deposit is needed per line, not per account. Many people who are required to pay a deposit fall under the $400-$450 range.

Final Word

As much as Verizon conducts a hard credit check for their new and existing customers, you can be able to get a Verizon service through a prepaid plan even with bad credit. A credit score between 300 -579 is terrible and might need massive deposits. Know the process of checking credit on Verizon and their 2021 update plan by going through our article.



Last Updated on October 6, 2022 by Magalie D.

Scroll to Top