Does Cox Run a Credit Check?
Cox Communications is one of the largest telecommunications service providers that offers cable television, broadband internet, and telecommunications services across the country, and many people have sought to know if this company conducts credit checks on their new customers. The realization that credit score standards for loans, credit cards, and even rental purposes have continued to increase, made the consumer desire to know how getting Cox services could affect it. In this article, you will get to know about Cox’s credit check policy or what you need to know.
In its simplest form, a Credit Check can be described as an evaluation of an individual’s creditworthiness.
A credit check is when one applies to you for your credit report from any of the three credit reference agencies; Experian, Equifax, or Trans Union. This allows them to review your credit history, including This allows them to review your credit history, including:
- Payment history: Have you ever made timely payments for the bills or you have been traced in the credit report as a debtor with such points?
- Debt load: What is the amount of money you are currently paying on your loans, credit cards, etc.?
- Length of credit history: For how many years have you been using credit? If you have just recently introduced credit, this usually equates to higher risk.
- Types of credit: Have you a history of credit and do you know about installment credit, or credit cards that are considered as revolving credit?
- Recent credit inquiries: How often have firms within your industry requested this report recently? Originally, they believed more inquiries could bring about a lower score.
A credit bureau is the one which gives the report and it also contains your credit score. Points usually vary from 300 to 850, and 700 and above are regarded as good, whereas 800-plus ones are considered to be excellent. Your credit information helps companies review applications and other credit requests and decide whether to grant you new credit. This is because several checks can be completed in successive days and it can negatively affect your score.
Do They Perform Credit Checks at Cox?
For its cable TV, home phone, or internet services, Cox Communications does not ask for a credit check each time the customer subscribes. This can be either with the Cox company or with any other company, including existing or new ones that are getting services from them or even getting other services to be added on to their original ones.
It does say that in their terms and conditions, they can do a credit check if they cannot ascertain your identity or eligibility for an account in some other way. But this seems only possible in a few exceptional cases, as was the case earlier when institutions were few and scattered all over the world.
The only condition is that if you do not pay for your Co services each month in full, then you cannot use the promo codes. If you choose to make payments on a service, Cox Telecom will carry out a low credit check to verify whether you are eligible for the payment plan or not.
Soft credit checks do not affect the score while hard credit checks lower it.
There are two categories of credit checks - soft and hard inquiries:
Hard Credit Check: A hard credit check is when a company pulls your entire credit record and reports to make decisions about your new credit application for things like credit cards or auto loans. When several hard inquiries are made in close succession, your scores can drop.
Soft Credit Check: Soft credit checks, which are also known as soft inquiries, do not reveal any of your specific details such as your name, credit card numbers, or social security number, but they do show your credit score estimate. They do not affect your credit score or credit rating. Such organizations as Cox perform a soft check to assert your identity and qualification for non-credit services. Other common soft checks include those that involve checking your credit or applying for a pre-approved credit card.
Soft inquiries do not show up on credit reports and do not influence credit scores, only hard inquiries do that. Thus, you do not need to fret as Cox will not be performing a soft credit check just for cable or internet subscriptions. They shall not get to see the full report of your performance or information regarding payment.
Common questions that Cox customers have for the company include: Why doesn’t Cox run credit checks?
Unlike other companies that deal with loans or credit accounts, Cox does not necessarily require complete insight into your credit profile because it offers home services. It would be outrageous and intrusive to run hard checks initially just to obtain internet or TV service. They care that you can pay the monthly services bill, rather than how they can give you credit for a year or more.
Well, naturally, when you agree on a payment plan, they need to make sure that you are capable of making those regular payments each month. So a soft check assists them in estimating your financial picture without adjusting your credit standing.
Deposits or Fees?
What Cox does to avoid credit checks is to recover costs through installation fees or deposits which are required for new services and are required particularly when they offer equipment within a home.
Installation Fee: Cox normally offers a generic price for the implementation and installation of the new services under the subscription. This costs between $20-200 depending on your subscription plan and additional equipment you would wish to add. It also supports the expenses incurred in putting up equipment and the technicians who conduct home visits.
Deposit: Cox Cable – There might be cases in which Cox may ask for a deposit with the initial activation of the service. In this structure, it is a refundable deposit that, in essence, minimizes the risk that Cox might suffer in case you do not pay for the services. They are in a position to use it to settle some of the outstanding balances that may have gone unpaid for some time. Depending on the credit rating, or any other requirement that the company has, the deposit may be offered with some discount.
They do all these instead of subjecting you to credit checks, thereby minimizing the financial risks that are associated with credit checks.
Updating of information; Adding a Roommate or Partner.
If you already have an active connection with the Cox service provider and you want to include another person a roommate a family member or a partner, this also usually does not involve a credit check. As long as the first account holder is still held accountable for monthly payments, they are going to just include the additional person as an authorized user or a non-account user.
Nonetheless, if the new person wishes to share or assume completely the account holder’s responsibility and become jointly or solely financially responsible, Cox may choose to conduct a soft or a hard credit check. This means they can ensure the identity and ensure the new account holder probably can handle the payments.
Checking Your Account Status
If you are currently a Cox customer, you may need to go straight to their customer service if you wish to know whether there are any credit checks on your account. Make sure that there are no hard credit inquiries from Cox by telling their billing department that you would like to make sure. You can check the account history yourself and they can inform you if they ever asked for the full credit report.
This can give one a basis for comparison to ensure that the addition of Cox services has not affected the scores. You can also ask them to delete the inquiry you believe is wrong if you identify an inquiry that you consider to be incorrect as per the credit bureaux.
The Bottom Line
Cox Communications keeps in mind that cable TV, internet, and phones are viewed as essential services for the majority of the population. They strive to offer an easy and convenient means of signing up without needing to pull the credit report of the users. Most of the new and existing customers having Cox services do not receive any hard check inquiries but only get involved with the soft check inquiries. Therefore, this approach reduces hurdles and shields consumers’ credit scores from damage.
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