I know I've read that they do, but I've seen my credit report more than a few times and I'm sure I've never seen anything about any of these utility bills on any of the reports.
Do they just show up if you are consistently delinquent? Does that mean that paying them on time does nothing to improve your score?
2007-03-04 05:50:07 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
Hmmm... so one person says she has actually seen it on her credit report. Anyone else???
I pay my utilities on time, but I have NEVER seen any note of this on my credit report.
2007-03-04 08:36:49 · update #1
Not all utility companies report to the credit bureaus.
(Even if you pay late)
If they do happen to report, yes they do contribute to your credit score for both positive and negative.
If a person defaults on their utility bill with a company that does not report, the company may eventually sell the debt to a collection agency - who will probably report.
2007-03-04 08:44:33 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Normally, they don't unless you don't pay, but actually you can do it yourself. There is an agency called PRBC. It a reporting agency that allows you to report payments on those very same bills that you mentioned and under the Fair Credit Reporting Act, you have a right to have that report included as well as your traditional credit reports. There's too much information to cover in this answer, so I'd suggest checking it out.
2007-03-04 08:03:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Utility companies do not report on your credit unless your account is in collections as UNPAID. Then the collection agency that has the UNPAID account is the one that reports, not the utility company. If you have good utility payments and you are looking at getting a house or something you can get letters of credit from those utility companies to show the potential lender, otherwise, they do not report.
2007-03-04 14:16:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Paying all your bills on time, including utilities, is important for having a good credit score.
2007-03-04 05:57:25 · answer #4 · answered by putzer 4 · 0⤊ 1⤋
Utilities have absolutely no impact on your credit report unless you are severly delinquent.
2007-03-04 06:27:05 · answer #5 · answered by douglas l 5 · 0⤊ 0⤋
Only if you don't pay them.
Utility companies don't report regularly to the three credit bureaus. If you are delinquent though, they do.
2007-03-04 05:56:39 · answer #6 · answered by Faye H 6 · 1⤊ 0⤋
Unfortunately, they don't help boost your credit score. The only thing paying them on time does is stop your score from going down if you're deliquent.
2007-03-04 07:20:25 · answer #7 · answered by Vadalia 4 · 0⤊ 0⤋
YES!...on the credit report it is stated as..."xxxxx co. Pays bills on time!" Yes the best thing in the world that you can do for yourself is to Pay your bills on time. (ALL of them).
2007-03-04 07:53:07 · answer #8 · answered by pheonixardent 2 · 0⤊ 1⤋