Not approved for financing by Citizens One? 4 ways to buy iPhone X

4 alternatives to Citizens One financing for iPhone X

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How to pay for the newest iPhone when Apple’s financing shuts you out.

Preorders for the $1,000 iPhone X started today, and the Internet’s all over it. You may be among those of us who excitedly visited Apple to be among the first to order this super-retina, all-glass phone.

You might’ve quickly completed the credit app with financing partner Citizens One only to be confronted with a disappointing message: “Not approved for financing.”

Fortunately, you can still preorder your iPhone X today with these four viable financing alternatives.

Option 1: A personal loan with fast turnaround.

  • Good for those who want financing with $0 down payment and more flexibility.

A personal loan is a general-use financing tool that you can use to cover any large expense. Unlike phone-specific financing, you can apply for personal loan amounts of $1,000 to $50,000 and use the funds to pay for must-have accessories as well. Go ahead and add $500 extra for wireless headphones, a phone case or a charging base.

Typical turnaround: You can expect to receive your personal loan funds within a few business days to a week. Most lenders offer immediate preapproval decisions, which means you’ll quickly find out how much you’re eligible to borrow so that you can plan your next steps.

Because your cash won’t be deposited in your bank account today or tomorrow, look into purchasing the iPhone X today on a credit card, and then use your approved loan funds to pay off your card balance when your statement arrives.

Our top picks for a fast personal loan:

Lender Min Loan Amount Turnaround Time
Even Financial Personal Loans $1,000 Varies Go to site More
NetCredit Personal Loan $1,000 1-3 business days Go to site More
Prosper Personal Loans $2,000 1-3 business days Go to site More

Option 2: Finance your iPhone through your carrier.

  • Good for those who want to roll payments for their phone into their monthly bill.

If you aren’t approved for financing through Apple’s site, you might be able to get financing through your current mobile carrier. Verizon, AT&T and Sprint offer phone financing that can be grouped into your monthly bill. Carrier financing typically comes with an interest-free period of up to 24 months, but you’ll likely have to make a one-time payment at checkout to receive the phone.

Option 3: Switch to a new carrier offering a stellar discount.

  • Good for those who aren’t married to their current carriers — and are on the lookout for a deal.

If you visit any major wireless carrier today, you’ll probably see deals for the iPhone X front and center — part of a competitive battle for your business. Some providers are offering discounts of up to $300 off the iPhone X when you trade in specific smartphones, while others offer to subsidize a chunk off the cost when you sign a multiyear contract.

Not all carriers have had the chance to announce their iPhone X deals just yet. But here’s a breakdown of what we’ve found with the big four for new customers:

  • T-Mobile. Call 1-800-T-MOBILE to preorder, and get $300 off an iPhone X with a finance agreement and eligible device trade-in. Discount is applied as 24 monthly bill credits.
  • Verizon. Choose any unlimited phone plan, and save up to $300 on an iPhone X, with device payments rolled into your monthly bill. Your credit is applied to your account balance over 24 months.
  • Sprint. Get up to $350 with a Sprint Flex leasing plan and eligible trade-in. Requires an 18-month lease, with the full balance due if canceled early.
  • AT&T. Get up to $300 in credits for trading in an iPhone 7 Plus and up to $200 in credits for trading in other eligible devices. You’ll receive your trade-in value as an instant credit or promo card.

Option 4: Use the iPhone trade-up program

  • Good for current smartphone users that can just need an extra $100 to foot the bill.

Already got an iPhone? Apple allows you to trade in your old smart phone for up to $315 in cash, which you can use to partly fund your new iPhone X. And it doesn’t even have to be an Apple product. Many carriers also offer similar programs.

Value depends on the model and condition it’s in, with newer phones getting the most bank. But you still might want to trade in your old phone anyway to avoid dumping it in that drawer full of old devices.

Future option: Marcus by Goldman Sachs in-store loans

Online lender Marcus by Goldman Sachs and Apple announced in may 2018 that they were teaming up to provide in-store financing for products such as the iPhone X.

The partnership is expected to roll out sometime in 2019, so there aren’t many details on financing to date. Marcus also plans on rolling out an Apple Pay-branded credit card and potentially other financing services.

Last-ditch option: A short-term loan

If none of the above four options work for you, you have another alternative — albeit a costly one: a short-term loan. These loans are small-dollar financing products designed for repayment within a few weeks to a few month, depending on the lender.

Because finance charges for every $100 you borrow can be high, you might want to wait until you’ve saved enough to purchase the iPhone X or work on improving the area of your finances that resulted in your declined financing application.

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Aliyyah Camp

Aliyyah Camp is a publisher for helping folks compare personal, student, car and business loans. When she's not helping people with their personal finances, you can find her going for runs outdoors.

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