I read in their brochore that it can..but i lost it so i can't call them to ask
2006-09-08 12:45:23 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
No, cell phone accounts don't show on your credit, only if you don't pay the bill, it will show up as a collection, and of course that will make your credit score worse.
2006-09-08 12:51:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋
NO!
The nature of credit is that you are "extended" an amount of money in advance that you can use for goods/services at the point of sale, and in turn, you will pay the lender a certain amount after the transaction has expired (plus interest, if applicable).
Since pre-paid phones require you to pay upfront for the services you will use in later months, it is not a form of credit. In fact, the money you have paid upfront and have yet to use is considered an asset because it, in fact, has a future economic benefit.
The credit that appears on your credit report, however, represents a liability -- that is, a future obligation to pay some entity (or someone) as a result of a transaction you executed.
As such, since no extension of credit is being made, it WILL not appear on credit report.
2006-09-08 13:04:12 · answer #2 · answered by DaMan 5 · 0⤊ 0⤋
No, it's not credit, it's pre-paid, therefore they can not report it as credit. If they stated that in the brochure, they lied. I've worked in the credit industry for over 20 years.
2006-09-12 11:12:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The only thing that I know of to improve credit is a credit card.
2006-09-08 12:51:20 · answer #4 · answered by ~Shy~Girl~ 2 · 0⤊ 0⤋
no, pre paid phones have nothing to do with credit.
2006-09-08 15:18:41 · answer #5 · answered by bella_4624_19 4 · 0⤊ 0⤋