400$ Security Deposit To Verizon...?

[awishisawish]

I'm planning on buying the LG voyager on Tuesday, but Verizon says that because I have not established any credit yet, they want a 400$ deposit before I can get my phone and service...Should I go with it? What do you think?

[kja63]

FOUR HUNDRED DOLLARS?!?!

I have never paid a dime for any cell phone in my life. I've always gotten mine free. And I certainly wouldn't pay any deposit for a cell phone.

[the700]

A co-sign is probably a better way to go. If you don't there is really no way around the deposit. Most companies charge that. The "no credit" shtick is a joke. What they really mean is, you have no previous cell phone credit. Even if you had a lot of good credit they would stil charge for it. They used to not charge as much so other people got around it.
Avoid it if possible because they are ways they can take that money that are really not fair.

[M W]

zcewaunt is right. They do that to protect themselves if you have bad or no credit at all. They'll give it back once you sign a contract and start paying your bill on time.

Plus, you do have to be 18 or older.... just so you know

But yeah, if you want to, go for it, they won't keep the money. Like I said, they only do it to protect themselves

[zcewaunt]

Yes.. they will give the deposit back to you once you establish credit with them