Why are all wireless companies charging a deposit on iPhone 5s?

I've tried every cell phone company and they never mention a deposit fee, until I enter all my info then submit. On the finalizing page, they all say I have to put a $400 deposit down. Does anyone know why all companies are doing that?

It means your credit isn't so hot. It usually based off of your credit sore. I remember when i was like 18 and i applied for my first phone, mind you i'm only 23, i didn't have to put anything down as a deposit now that my credit is all messed up they ask me for a deposit everywhere.

good luck, i'm sticking to Net10 it runs on at&t towers and its only 50 bucks a month unlimited.

If you have bad credit then that means you can't be trusted, so all companies will expect you to put $ down.

  • Why do some companies assume everyone has an iphone? When they make a new app, for example to check your account balance, they announce it as an iphone app.
  • Why do AT&T, Verizon and Sprint need a deposit? Because I went to any AT&T couple weeks ago to get the iPhone 4 and the guy told me I needed a 300 dollar deposit, why do you need it
  • Sprint mobile credit/deposit? I've had virgin mobile for the past two years. Now I want to switch to Sprint to purchase the iPhone 5. Being only 21 years old I don't know how my credit score would affect with trying to open a sprint account. I'm living in a dorm and I only pay my internet/cable bill that has my social security number on it. I make those payments on time. And have nothing in collections. Would I be able to open a sprint account without a hefty deposit?
  • IPhone 5 Additional Deposit? I purchased the iphone 5 online on the apple website after 10pm to be eligible for the next day instore pickup. I just checked my account and the money has been withdrawn, but on the apple website it say there may be an additional in store deposit. Can someone please tell me will i have to pay and additional deposit? And if yes. How much will it be?