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Spending Limit

  • 22 September 2020
  • 7 replies
  • 131 views

Hi there, I’ve had my phone plan for almost two years and recently upgraded to a different plan with more data. My plan comes to $101.80 and my spending/credit limit on my account (according to Equifax) is $108. Now that my plan is changed I am utilizing 94% of my credit limit with this account, and my credit score is dropping daily because of this. I have auto-payments and this is my ONLY bill on my account ALL credit cards are paid to $0, I hardly use them. Equifax says this is the reason for my score dropping as it is using too high of a percentage. I spoke to representatives at Equifax and Koodo and nobody will fix this issues for me. Koodo said they cannot see my spending limit and there should be no limit set, and Equifax is just giving me the information they have from Koodo. Any ideas?

 

Edit: I can still see my Bell Mobility account (closed) and my spending/credit limit on Equifax shows $500. So clearly Koodo should be able tom fix this...

 

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Best answer by nim4165 22 September 2020, 02:59

If I was the one who received this info from Equifax, with the understanding that my credit score is going down because of koodo’s  low ($108) credit/spending limit (vs. $500 with Bell), I would go straight to the koodo billing experts who determined the low (compared to Bell) limit. That is still my recommendation to @CrossedSoul 

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7 replies

Userlevel 7

Ask for a callback ( www.koodomobile.com/chat Type $helpss  and ask to talk to the billing department. They may be able to help you out regarding the ‘why so low’ ($108). 

Hi @nim4165, I was on the phone with Koodo for an hour and a half today and they said they couldn’t see my spending limit and got put through to multiple departments...

Userlevel 7

‘Kood on the phone’ may have been a general support person. I suggest you  try and talk directly to a koodo billing department agent who may have better visibility  to your credit review results and maybe to the source of the $108 limit (and hopefully they can increase it). Maybe one of the koodo official reps who are monitoring the community posts can provide better advice/help ?

Userlevel 7
Badge +4

Koodo does what it was supposed to do, reported the amount of your bill and whether you paid it on time or not. That happens to all postpaid customers.

The limit of credit on your Koodo is the amount based on your previous credit check. If you want to increase it, they might ask you to do another credit check - which in turn might drop your credit score lower.

Normally the 94% is the percentage of debt/credit available in all of your accounts (banks, credit card, loan...). if you are worry about the 94%, I would suggest you keep more money in the bank account.

@Dinh there’s no problem there. When Equifax tells me the score is dropped due to a high usage in one bill then I’m going to take their word for it.

Userlevel 7
Badge +4

@Dinh there’s no problem there. When Equifax tells me the score is dropped due to a high usage in one bill then I’m going to take their word for it.


Yeah, normally if you have more money in other account to compensate for it, then it shouldn’t be any problem. The credit score is the composite score of all accounts, there is no single score for Koodo, single score for bank, etc.

Userlevel 7

If I was the one who received this info from Equifax, with the understanding that my credit score is going down because of koodo’s  low ($108) credit/spending limit (vs. $500 with Bell), I would go straight to the koodo billing experts who determined the low (compared to Bell) limit. That is still my recommendation to @CrossedSoul 

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