2006-12-15 13:14:55 · 5 answers · asked by LegionSk 1 in Business & Finance ➔ Credit
No. Most businesses that are not in the lending business can not, and do not report to credit bureaus. I have an account with my parking garage for a monthly pass, the ChemLawn company, the local trash company, phone company, cable, etc. and not one of them reports to a credit bureau. As someone said, if you don't pay your gas bill, then they will turn it over to a collection agency, and put a "Public Record" on your credit file.
Your cell phone company will pull a credit report to use in decisioning your application, but again so do lots of other companies, that are not lenders.
Having a cell phone, utilites, checking and savings accounts may put you into another type of file that is more of an ID file.
2006-12-15 18:50:19 · answer #1 · answered by Gatsby216 7 · 0⤊ 0⤋
Yes it is reported to your credit report and as long as you pay ontime then you will have good rating. Anything you have a contract on for a purchase will show up like this. Keep paying your bills ontime and you will have excellent credit. These will show up as positive on your report so a creditor can see you are paying ontime.
Why is it so important? Because in the long run when you purchase something big like a house you can get a lower interest rate on your loan for having good credit. Having bad credit will either result in high interest rate on your purchase or being turned down for the item.
2006-12-15 14:26:04 · answer #2 · answered by vanillabeancheesecake37 3 · 0⤊ 0⤋
it doesn't go on your credit report as a positive or anything unless you break your contract then you get a nice negative balance on it. Though sometimes when applying for credit some agencies will call places like your cellphone company, gas,electric, etc in order to prove positive credit history if you lack credit history other than that it doesn't really do much.
Though I was told that by a guy at the T-mobile store when I was younger thinking it would be a positive.
2006-12-15 13:20:41 · answer #3 · answered by Azure 2 · 0⤊ 1⤋
yes.
Although it doesn't play that significant role in your credit history make up, as other credit products like mortgagee,loan,overdraft repayment would play otherwise.But certainly this information will become a part of your credit file.
2006-12-15 13:23:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
pull your credit report and see if it is listed, if it is not listed than it is not a debt and is not helping or hurting you
stop paying and it could show up as a debt and hurt you
2006-12-15 13:19:11 · answer #5 · answered by Anonymous · 0⤊ 1⤋