I’m a day late on my bill payment because it was my understanding that Koodo setup pre-authorized bill payments for me when I switched to Koodo, just like how it’s competitors do so.
Is this going to be affected on my credit report and will I be charged a fee for this or is there a buffer?
+4
Hi
Due to privacy reasons, setting-up a pre-authorized payment is available only via self-serve.
More details can be found here https://www.koodomobile.com/en/help/setting-pre-authorized-payments
If the payment was posted after the due date, there will be a late payment fee and it will appear on the credit report.
I’m surprised to hear that any lateness will get reported? It’s typical, according to both Equifax and @ Transunion, that only once it’s 30 days past due that it should be reported.
+4
As far as I understand, the “due date” is more of a guideline to ensure the payment reaches Koodo before the next bill is generated, as some forms of payment take longer to process than others. As long Koodo receives payment by the end of the billing cycle, (roughly 30 days after the last bill), I doubt anything will be reported.
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