Why is spending limit decreased without notification?
GregNice
Enthusiast - Level 1

I've been with Verizon going on 10 years now. I have 8 lines. And I've never had a problem with upgrading 1, 2 or even 3 of my lines at a time. For example In July 2019 i upgraded my Wifes phone to a galaxy 10s plus and my daughters phone to a iphone XR at the same time. I know my device limit was around $4500. To My surprise when i tried to upgrade my phone on March 20, 2020. I had a very high down payment that i had to make before i could upgrade my phone. I was in shock. I call Verizon and i was told that my device limit was now only $1500 and i only had 300 available to go towards a new device because of the other devices i already have on a device payment plan. I asked them how did this happened. I was informed that Verizon does a soft credit check every 30 days on your account. Without your knowledge. I already went through a credit check 10 years ago when i 1st became apart of the so called Verizon Family. So what's the reason for the soft credit checks every 30 days..I'm not going to lie this really upset me like i said before I've been with this company for 10 years. And i have never had a problem before now. The sad thing about is I really need a new phone...My phone rings when it wants to...I had to buy a wireless charger for home and work because my charging port stop working. Now i have to talk with the speaker on or with headphones because i can't hear on my handset...smh. I went with Verizon because i did my research and found out  Verizon was the best Wireless Company that fit my needs. And for the past 10 years I've been very happy until now. I have 8 lines with a $1500 device payment limit. My question is how does that work. A good quality phone can range anywhere from $850 to $1500 even more with 5g....One of the biggest perks being with Verizon is the Device payments. Without that what do you have. You might as well be with a pre-paid company like Metro pcs. Cricket, Boost mobile, who make you pay for your mobile device upfront. I'm just saying. This is really sad 🙁. And i don't understand why this is happening to your customers. I hope this problem can be resolved. Thanks in advance 

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Re: Why is spending limit decreased without notification?
GregNice
Enthusiast - Level 1

Hi Courtney...I had a few conversations with Customer service about this situation and they told me the same thing. I don't understand why Verizon would drop your device payment limit. I guess Verizon is punishing there customers that came across some hard times and was struggling a little bit to pay there bill on time. I thought that's why Verizon gave you the option to set up a payment arrangements. So let me get this straight if you don't pay your bill on time Aka the due date.... Verizon will decrease your device spending limit. As some type of punishment. Every Verizon Customer knows that you cannot buy a New device unless your bill is paid up to date. So decreasing device payment limit dosen't make any sense to me. The only thing i can see happening in this situation is Verizon losing Customers.

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Re: Why is spending limit decreased without notification?
vzw_customer_support
Customer Service Rep

GregNice, I can definitely understand wanting to upgrade to the newest phones. Allow me to clarify on the device payment spending limit. It is evaluated every 30 days when a soft credit check is ran. Please keep in mind, a soft credit check differs from a hard credit check, and does not impact your credit score. The soft credit check takes a look into your payment activity with Verizon. With good payment activity, the spending limit can increase, and vice versa. If you do not have enough of a spending limit for a phone to be purchased fully under a device payment agreement, the remaining amount on it will be due up front as a down payment. Let us know if you have any questions.

 

KourtneyC_VZW

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Re: Why is spending limit decreased without notification?
GregNice
Enthusiast - Level 1

Hi Courtney...I had a few conversations with Customer service about this situation and they told me the same thing. I don't understand why Verizon would drop your device payment limit. I guess Verizon is punishing there customers that came across some hard times and was struggling a little bit to pay there bill on time. I thought that's why Verizon gave you the option to set up a payment arrangements. So let me get this straight if you don't pay your bill on time Aka the due date.... Verizon will decrease your device spending limit. As some type of punishment. Every Verizon Customer knows that you cannot buy a New device unless your bill is paid up to date. So decreasing device payment limit dosen't make any sense to me. The only thing i can see happening in this situation is Verizon losing Customers.

Re: Why is spending limit decreased without notification?
vzw_customer_support
Customer Service Rep

We do appreciate the last 10 years you have been with us and we do look forward to continuing to provide you with great wireless service and a variety of device options. I have sent a Private Note so that we can further review the account options.  YaleK_VZW

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vzw_customer_support
Customer Service Rep
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Re: Why is spending limit decreased without notification?
vzw_customer_support
Customer Service Rep

To further assist with the account, I will need to reach out to you via phone call. What is a good number I can reach you at?

 

KourtneyC_VZW

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Re: Why is spending limit decreased without notification?
PrinceW
Enthusiast - Level 1

So this is a common issue with Verizon. We're experiencing the same situation about spending limit. However, they didn't provide a solid answer to why our limit is decreased. All they told us was it base on credit history and payments. We started with $4000 limit and now only $2500. We've spent over $3500 to purchased two iPhone 11 Pro Max and one Samsung Galaxy Note 10+ when we opened the account in February, 2020. Later on, since we need to purchase more devices for the family. We've paid off both iPhone 11 Pro Max in by July, 2020. We've been paying our monthly bills on-time every time. Now we have 9 lines in the account and would like to buy new phone as a gift to the in-laws. However, our spend limit is only $2500 now and wouldn't have any left for a new phone. We called Verizon and waited almost 3 hours to speak with someone from the Finance Department. He told there is nothing he could do about it and advice us to pay the phone full at retail stores. So we asked him why do we need to choose Verizon on a postpone plan instead of prepaid plan? Prepaid plan is a lot less expensive than postpone plan in any carrier. He didn't answer to our question and asked us to stop arguing. We're trying to find out the causes why our spending limit decreased. No one would like to argue or have the extra time if there is a solid answer to the question. 

Verizon Support. Can you please tell us what cause the spending limit decreased  when the customer is making every payment at full, good payment history and spending great amount of money with the company?