I plan on paying my first bill two weeks later as I will be away in Europe. What late charges should I expect?

  • 1
  • Question
  • Updated 2 years ago
  • Answered
  • (Edited)
I had water damage on my phone and had to quickly buy a new phone before I travel to Europe next week. I chose Koodo as it was the cheapest. 
Anyways, I don't care to pay my bill at this time as I would like as much money as possible while I'm traveling. When I get back, I will pay off my bill and tab immediately. I don't care if they cut off service as I am putting in a European Sim. 
I would like to know if I am to pay 28% interest each day it's late or if it's added once a month. If it's each day, I will pay it off while I'm away but if the interest is only added once each month I don't mind holding off. Please advise. 
Photo of Lia Ross

Lia Ross

  • 70 Points

Posted 2 years ago

  • 1
Photo of Mathieu

Mathieu, Mobile Master

  • 60,848 Points 50k badge 2x thumb
Hi Lie,

Your best off to pay ASAP since it will affect your credit rating and could stop you in the future of getting credit.
Photo of David

David, Mobile Master

  • 93,758 Points 50k badge 2x thumb
It is an annual rate, calculated each day, and added to your bill monthly.
Photo of Goran

Goran, Mobile Master

  • 97,682 Points 50k badge 2x thumb
If you really want to be late two weeks, it won't really affect anything if it's a one-off thing. Keep it under 30 days and you shouldn't have any issues except for a late charge and interest at what will likely amount to a couple dollars. Emphasis on shouldn't.

I'd personally just pay it as Mathieu said, and I'd say another reason is that the amount you'd still have is a minimal impact if you're just going to pay as soon as you get back anyways. You can always pay with a credit card, have the grace period, not be late for anything, and not pay any late fees or interest.Or if you don't have any credit cards without a revolving balance, a lower interest rate at least and no late payment worries.
(Edited)
Photo of BobTheElectrician

BobTheElectrician

  • 67,558 Points 50k badge 2x thumb
Unless I am mistaken, you won't be able to unlock your phone till your account has been in good standing for 90- days, which may kabosh your use of a European SIM.

All the Telcos feed their data to the credit reporting agencies, even though this may involve piddly amounts. You are also talking about this being your first bill, so you will not be off to a good start. As Goran said, it's better to pay off the cell bill on credit card and do a few cycles of paying them the minumum required payment. That way your ongoing history shows happiness all round.



(Edited)
Photo of Chad Burr

Chad Burr, Mobile Master

  • 203,988 Points 100k badge 2x thumb
A third party unlocker will do it no questions asked. Remote unlocking is sold daily on eBay or other websites.
Fine, fine. I'll pay it. And Koodo was nice enough to disregard the contract and unlock my phone. So I have my Euro Sim in place.
Photo of BobTheElectrician

BobTheElectrician

  • 67,558 Points 50k badge 2x thumb
Glad it all worked out for you. Have a nice trip.