Koodo Community

Community

Solved

Reporting late payment versus NON-LATE payment


I know that Koodo reports to the Credit Bureau on late payments, but how many NON-LATE payments does it take before they submit a positive report to the Bureau? It would really help out customer loyalty if Koodo did submit a positive report to the Bureau.

14 replies

Userlevel 7
Badge +4
Hey David. I don't think its that they are sending individual reports for good and bad payments. I believe they are just sending all of the payment history. So the good payments will be on there as well
Userlevel 7
Badge +4
Apparently, you don't have to worry so much about late payments as your credit score only takes a hit if your account is deemed delinquent (which usually happens when your balance is more than 30 days past due - Koodo may have a different definition of delinquent account):

http://debtandcreditsolutions.ca/telcos-to-start-reporting-to-credit-bureau/
Thank you Chadwick for such a prompt reply. Any idea as to how many months go by of good payment status before it reflects on a person's credit score? Over the last couple years I have had a few late payments, even to the point of having to reactivate the phone, but now I am trying to clean that up. Last month I used my phone app to pay my bill. A week later i went online to check my account and saw that the payment never made it through, for what reason I don't know, and I ended up having to pay a late payment fee. I am not concerned about the buck ten, but the neg credit rating is what is going to set me back.
Anyways, after spouting out all that verbal diarrhea, I went ahead and set up preauthorized payment.
Userlevel 7
Badge +4
David Hendricks wrote:

Thank you Chadwick for such a prompt reply. Any idea as to how many months go by of good payment ...

I do preauthorized payments for everything for this reason. I mean, it's something that I have to pay anyway. Even if there's a billing error, I'm not going to withhold payment until its resolved because I don't want to hurt my rating so I have no worries about going preauthorized.
Ivan wrote:

Apparently, you don't have to worry so much about late payments as your credit score only takes a...

Good to know. Thank you Ivan.
David Hendricks wrote:

Thank you Chadwick for such a prompt reply. Any idea as to how many months go by of good payment ...

Excellent point Ivan. It seems that in today's economy, it is not how much money a person has in the bank, but it is about how good their credit score is. 
David Hendricks wrote:

Thank you Chadwick for such a prompt reply. Any idea as to how many months go by of good payment ...

Whats with the Points Earned Notices that I keep getting? seems like after each time i make or get comments on this community forum I get some browny points.
Userlevel 7
Badge +4
David Hendricks wrote:

Thank you Chadwick for such a prompt reply. Any idea as to how many months go by of good payment ...

Its just an activity thing in the community. Its how Koodo monitors who's active the most iguess
Userlevel 7
Badge +4
David Hendricks wrote:

Thank you Chadwick for such a prompt reply. Any idea as to how many months go by of good payment ...

Think of the notices as star stickers for doing stuff! As for credit rating stuff, "not long" is the best I can give. If you start making regular on time payments and your debt is consistently going down or paid off it will rapidly go back up over several months and In a few years I should be very high.
Userlevel 6
Hey David! Just to confirm, we report to the credit bureau every 30 days.  We report all payment activity, weather your payment is late or on time.  Hope this clarifies things!
Melissa wrote:

Hey David! Just to confirm, we report to the credit bureau every 30 days.  We report all pay...

The billing cycle was changed 2015 and resulted in late payments on my credit - once I spoke to a rep - I understood the that the billing cycle was changed - but now I'm buying a house and the only thing that is holding me back is your report- my credit score is good- I'm seeking a pardon - for the late payments to get this off my bureau. Is there anyone I can discuss this with been on hold for a long time to get this info. Please advise.
Userlevel 7
Badge +4
Melissa wrote:

Hey David! Just to confirm, we report to the credit bureau every 30 days.  We report all pay...

Koodo and other companies do not pass judgment on your payments, they just report the facts as they happen. You would have to be two months behind or be frequently late for it to trigger anything major on your report, which is generated by the credit bureau, not the companies reporting stats. So they are not in a position to grant absolution.

It wouldn't be business as usual for Koodo to amend what it previously automatically reported unless there was an error on their part. You have the right to get a copy of your credit report from the bureau and correct any inaccuracies or add some comments. If these are the only late payments reported, then you may be better off explaining the situation to your lender and the credit bureau.

This is typical of how what gets reported to the credit bureau gets digested:

Melissa wrote:

Hey David! Just to confirm, we report to the credit bureau every 30 days.  We report all pay...

I'm in that same situation. I had an account on hold with Koodo for which I was paying about $11 every month. I have ALWAYS paid my bill (auto payment) on time but because I got a new card, I forgot to update my card number with them and I didn't realise it till 60 days later and because of this crap, I'm having a lot of trouble getting approved for a mortgage! I just think that this absurd process needs to be changed because there is no logical reason for a person to go through such a hassle when all other elements align properly. This is a ridiculous process!
Thank you Melissa.

Reply