Pay monthly for new apple phone - loan declined

[user68901]

Hi
Has anyone tried to get the "loan" at the apple store you can pay monthly in 24 instalments with 0% - I have just tried under my husbands name and he was declined despite having annual salary of £225,000 . I'm not sure what their criteria could possible be ??
Anyone managed to get through to being accepted?

I’ve used the Apple monthly/trade in program for years. The approval has always been seamless. I have no idea what the criteria might be.

we did have trouble the last time we bought a car. DH has a lock on his credit because of semi-recent identity theft. Automated systems now reject him and it has to be handled by a very time consuming phone call.

You can’t apply for credit in someone else’s name - this isn’t allowed and is classed as fraud - this may be part of the issue.

Aside from that, credit risk isn’t based on income. If a person has a history of missed payments or has never had credit before they will often be declined as high risk or unknown risk.

Yes I've had it twice with no issues.
I'm puzzled why he needs a loan really, with that salary.

I'm not being fraudulent. He knows I am getting him a phone. its just the apple store is my log in. He has never missed a mortgage payment or not paid off his credit card. Maybe you are right - it's not enough to give him a credit history as we mostly buy stuff outright. I tried in my name after and my income is just under £20k - my credit record is extremely good but also got declined.

I'd rather keep the money in an account earning interest. Its 0% loan

I had that with Apple and I am on a 6 digit salary, I called the credit company directly and they were able to override whatever control in the system was the problem. They also said a lot of people had been refused and they had done the same.

Yes I've gotten the O% iPhone loan twice and I make less than the tax threshold. I think something has gone a miss for you. Possibly because of the name issue. But I'd also
Check your credit score

If he’s earning £225k why would he even need a loan to buy the phone ?

For items that are 0% interest it makes more sense to pay in instalments and earn interest on the balance in your account. Interest rates are high right now. Salary doesn't matter, it's just common sense.

Is this that? DH works in finance and says that Black Friday has buggered lots of banking systems today

Oh right yeah of course, silly me. I don't think like a financially literate person.

Just get an 0% credit card, deals available for both purchases and balance transfers.

cough subtle brag cough

Mine finished last month and tried to take a new one out last week which was declined. Absolutely nothing has changed in my circumstances. I’m Annoyed now though as the refusal will show on my credit score.

What a lot of faff to make what, £50 in interest?

I'd rather spend the time I have to focus on growing wealth on something with a higher impact.

I got a phone through Apple on 2 years 0%. I was earning about 22k at the time and have other credit.

Mine was refused once because the name I filled the form in with didn't exactly match the one on my bank account- e.g. I used the short version of my name on the form. When I corrected it, on a second attempt, it was fine.