I haven't had any late payments with my phone carrier MCI, for over a year..and I've paid my car insurance (Progressive) on time for over a year too..Can I have this added to my credit reports to boost my credit score?
2006-07-28 13:53:20 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
utilities will not show on your rating unless you owe a balance which doesn't get paid
2006-07-28 18:21:33 · answer #1 · answered by Anonymous · 0⤊ 1⤋
No one really cares in the world of credit if you paid your car insurance payment or your utilities and your phone payment on time. This does constitute good credit. If The utilities had to come after you for not paying however, that would go against you. A car loan only constitutes good credit when the loan is paid off in full also.
What is your FICO score? That is what lenders look at. There is a formula to determine a FICO score. Much of it has to do with how much income you have compared to your debt ratio. On time payments only for certain things (not what I mentioned above) are what count. You can go on line and look up about Fico and how to improve your credit rating. If you have balances for instance out on several credit cards which are high, this will lower your score too.
2006-07-28 14:00:08 · answer #2 · answered by Island Queen 6 · 0⤊ 0⤋
Yes, It can. However, the credit bureaus may charge you a slight fee for it. You want to send them a letter and tell them that under the Fair Credit Reporting Act, your credit profile is inaccurate because the full credit profile is not included. Give a copy with paid receipts or a printout from the creditor. Also if you have paid a loan back that does not report, than this is a good way to put it on report also.
Good Luck
2006-07-28 13:59:17 · answer #3 · answered by teenriodoll 3 · 0⤊ 0⤋
My initial response would be no. I believe creditors have to pay each credit reporting bureau for the "priviledge" of submitting account information. This is why some creditors will report to just one or two of the three bureaus and not all three. I do not think that individuals can submit tradelines on their own.
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2006-07-28 15:02:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
okay paying monthly bills on time is wonderful! CREDIT is a different ball game, apply for one major card and always pay off your purchases. on time and in full that Is a sure way of boosting your score .also never cancel any card if you can't afford .to pay for it just put it away for emergencies
2006-07-28 15:08:18 · answer #5 · answered by leggs 1 · 0⤊ 0⤋
no, but you want atleast 4 accounts with available balances over 1500 dollars to bolster your credit score as well as deleating negative info from your report.
2006-07-28 13:57:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋