So my credit rating isn't the greatest as a few years ago I got into debt and had to get hold of a debt relief order in order to recover. I am in a much better financial situation now than I was a few years ago, however, and typically have no problem at all paying all of my bills and still having a decent amount of money leftover at the end of the month. With that said, though, my credit file is still recovering from the past...which can take up to 6 years I've been told.
Anyway, I thought I'd try my luck for an iPad Pro 12.9 inch 128GB 2020 Model as it's a device that I really would benefit from but don't fancy paying over £1000 upfront for it. I originally tried with Sky Mobile and they asked for a security deposit of £39 on a £26 a month 48 month tariff but after paying the deposit and being reassured by the guy on the phone that the order had all gone through and I should expect delivery on the next working day I received an email about an hour later informing me that my contract and credit agreement had been cancelled. I was like "WHAT?!". Upon ringing them up they said they'd conducted further background checks and decided to cancel the contract.
Well...that sucked...especially since I passed the initial credit check at time of placing the order which did surprise me initially but then it has been a few years since my debt trouble and I've been paying bills on time every month for the last few years so I thought well they're obviously happy with that! And a small deposit of £39 wasn't exactly much to ask...but to later have it cancelled without warning did come as a little bite in the **** to say the least.
Anyway, today I signed up with O2 on a £23 a month device plan (£13 a month airtime plan)...totalling £36 a month. Got to the credit check stage...waited anxiously as it processed...then the screen came back demanding a £595 security deposit which it said will be repaid after 3 months of successfully paying my bills on time. I was a bit disgruntled about the amount they were asking for but, seeing as I will get it back in 3 months time, I decided to proceed. A few hours later my lovely new iPad has been despatched and I'm now awaiting delivery (currently scheduled for tomorrow).
My question here is...can I request that the security deposit be used to cover the device plan when the time comes for O2 to refund it? Or can it only be used against the airtime plan? Because if the latter is the case I will just request them to refund it back to my bank. Has anyone had any experience with this? Much appreciated in advance for your help.
