I purchased an iPhone 12 on a promotion deal to pay $20 mth instead of $40 for 2 yrs. I asked him if I am only paying over $500 in the 2 yrs who pays the rest & he said Fido and I asked how much then should it cost to buy our the phone and he said over $300, not quite sure of the amount at that moment.
Received my 1st bill and I called Fido & I am told you have to pay for the 2 yrs to get the promotion deal and I asked about putting money down and was told depending on how much I put I might lose the promotion deal and to buy out the phone is over $1000. I am so upset as nothing was explained to me at the beginning.
I would never had bought the phone in the first place had I known all this.
Very disappointed with all of this and I have been accustomer of Fido for a long time.
Solved! Go to Solution.
Sorry to hear the details of your purchase might not have been explained to you properly. Fido currently offers their Fido Payment Program which is generally the full device amount financed over the 24 months. Occasionally, they will offer credits as a general promotion or loyalty offer. It should be noted that those credits do not reduce the actual cost of the phone. Rather, they are added to the bill to offset the device costs.
The $20 per month you note would be the After Bill Credit cost. However, the total cost of the phone would still be the $40 per month you provided (Note: I am using the amounts you provided. Your actual costs would be outlined in your contract). I mentioned that the credits do not reduce the actual cost of the phone. That point becomes relevant if the contract is ended prematurely. If you terminate your contract early, you will be required to pay the remaining balance owed on the device. The balance owed would not be $20 x remaining months, but rather $40 x remaining months (plus taxes). The remaining credits would no longer be applicable.
You can make lump-sum payments towards the phone. However, you should note that it would reduce the monthly financing payments, but not the duration of the contract (see link above). If you would like to make an additional payment towards your phone, you would need to contact customer service. In addition, they can also be contacted via Live Chat, Facebook, or Twitter. Those methods can be accessed via the contact page posted above.
Hope this helps 😀