Credit Limit Monitoring

Credit Limit Monitoring

Credit Limit Monitoring

SOLVED
I'm a Participant Level 2

Credit Limit Monitoring

Hi, I am a new Fido customer. Since I am a new customer, I am young and had no credit score when I opened my account with Fido, they put a CLM on my account of $300. I was able to add 2 lines on my account. I want to add 2 more lines, but because I have a credit limit I cannot. I understand how a credit limit works and the reason I am not eligible at the moment. I have been a Fido customer for 4 months and I was wondering when Fido could review my account (and see that I pay on time every month), so that they could hopefully increase or remove my credit limit so that I could add 2 more lines to my account. I would appreciate if someone can inform me. Thank you. 

 

 

***Edited to add labels***

Accepted Solution

Re: Credit Limit Monitoring

Solved by Fido Employee afterthefact

Hello David W,

 

There is an automated process where the system will review your credit (with Rogers/Fido) on a regular basis.  I believe it is every 30 days.   At some point the system may decide you are approved for more lines or approved without a credit limit, but it is not possible to know if or when this will happen since it is based on your payment history and your credit file with the bureau. 

 

Feel free to check back with Customer Service every few months to see if they can approve more lines.  Another way would be to transfer the account into someone else's name who has a better credit history. In doing this, that person would become financially responsible for the account, but  you could still retain access to make account changes if you wanted. 

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2 REPLIES 2
I'm a Participant Level 2

Thanks for the reply.
Fido Employee

Hello David W,

 

There is an automated process where the system will review your credit (with Rogers/Fido) on a regular basis.  I believe it is every 30 days.   At some point the system may decide you are approved for more lines or approved without a credit limit, but it is not possible to know if or when this will happen since it is based on your payment history and your credit file with the bureau. 

 

Feel free to check back with Customer Service every few months to see if they can approve more lines.  Another way would be to transfer the account into someone else's name who has a better credit history. In doing this, that person would become financially responsible for the account, but  you could still retain access to make account changes if you wanted.