10 years loyalty, never missed my payment. hence not eligible for upgrade

[Zack-72]

Hi,

I have been using fido for the last ten years. I have 2 lines on my account. I never missed my payment ever. I tried to upgrade my cell phone, Samsung S22 128, which they are offering with zero down and a $25.84x24 monthly payment plan.

I tried online but the fido specialist said I am not approved for zero down and if I wanna upgrade pay $620 + taxes lump sum.  which does not make sense to me. The first time when immigrated to Canada Fido offered me a $300 credit limit with my first connection( i didn't have any credit history in Canada at that time).  But now when I have a very good payment history  with Fidp and has decent credit score ...now they refused me.  This is really not cool. I am thinking to change my service provider.

ZK 

[khouya]

Hi @Zack-72 

Sometimes, company have many restrictions about credit. This is not only a question about credit score number, this could be also a question about number of others debt appearing on your credit file, rate of endettement, number of recents inquiries, there so much things that can be considered. I'm not a credit specialist just an user but i know this. I know you are with fido since a decade and your making your payments like you say, i know thats make you angry, but have you asked Fido why your not approved, what is the cause, after you can work on it to be approved? The best thing to do it's to make payment every month for all debt, and never do credit inquiries, and have credit cards, loans, and different credit on file, and have a low ratio (%) at least 20% or lower of endetemment and keep a credit score at least 680+ for being approved to differents things. Look at ratio endetemment (%) on your file it's could be the thing. Finally you could ask Fido at fido.ca why your not approved, and work on it. There so much thing to take in consideration.

I hope this could help.

Have a nice day 

 

cc: @FidoStephen , cc : @FidoSaad , cc: @FidoPhilippe