Credit Defaults

When considering your application for Telecommunications services with Arrow, we will perform a credit check to ensure our decision to approve an application is sound, and carries as little financial risk as possible. This is part of our standard provisioning process.

There is no dollar limit that triggers a credit file check. In fact, applications for Telecommunications services often appear as zero, because the amount of the applicants’ potential monthly bill is unknown.

Every time you open an account with a supplier for goods and services, apply for credit, or when you are late paying a bill, these things can all affect your credit rating. If you have “defaults”, “late payments” or other negative notes on your file, you may be considered a credit risk.

A default (or overdue account) is usually a debt of over $100 that is overdue for a minimum of 60 days. Note: Telecommunications and utilities accounts such as electricity and gas bills may be reported when they are $20 or more in arrears.

Even when the overdue account has been brought up to date or paid in full, it will remain on your file. All overdue account listings remain on file for 5 years from the date of listing, unless an investigation proves the overdue account was listed in error.

The fact that an account has become overdue, and then been paid becomes part of your credit history.

Understanding an applicant’s past credit activities gives credit providers and suppliers a better assessment of the potential level of risk involved in approving an application for credit.

-Emily

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