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After bill credit

I'm a participant level 2
I'm a participant level 2

Can someone explain to me what is the meaning of 

"Includes $31.67/mo. credit (appears on bill under ‘Monthly charges’)"

for example this is from my plan offers and stated as follows:

Samsung Galaxy S20 5G

Monthly financing before credit $34.67/mo.±Monthly financing after credit $3.00/mo.±(After bill credit)with Fido Payment Program

Taxes extra | 24 mos | 0% APR

Full Price: $880.00

Includes $31.67/mo. credit (appears on bill under ‘Monthly charges’)


my question is with my current plan how much I will get added to my account per month if I add this?

just 3/mo?(including down)

or 3 + 31.67 credit per month?


Senior MVP Senior MVP
Senior MVP

Hello Queenieq,


  Welcome to the community!


  With many of the device offers, Fido does not actually discount the cost of the device. Rather, they provide a monthly credit to off-set the device cost. That monthly credit is applied to the bill and not device financing cost. The device cost shown on the website was calcuated after bill credit


  In your case, the original monthly financing fee of $34.67 and bill credit of $31.67 calculates to $3 per month (with downpayment). However, the monthly financing fee does not actually change.


  So, the total cost of the phone would be:

$47.97 + ($3 x 24 months) +($31.67 x 24 months) = $880.05


  If you keep the device financing to completion, the amount you would pay for device would be:

$47.97 + ($3 x 24 months) = $119.97

  You would receive the monthly credits ($31.67 per month) to off-set the remaining balance of $760.08


  It would be important to note that the monthy financing fee does not actually change, though. If you choose to end the contract early, you would still be required to pay the total remaining balance of the device. That is, the remaining balance would be $34.67 x remaining number of months, not $3 x remaining months as the remaining monthly credits would no longer apply.


Hope this helps 😀