Is adding non-agency reported bills to your credit report worth it?Will it make a difference in a credit score

Question

If I were to go through the proceedure to add a bill history, IE cell phone, utility payment history to a credit report will it reflect in my score, if so how much, and how long a history should I have before doing so?

Answer 1

it will not add a trade line and will not add or detract from a score what so ever. If you are doing a mortgage at this time the broker is doing a manual underwrite and Fannie Mae and FHA alow this for persons with no score

Answer 2

Every time a line of credit is added to your bureau that shows a good payment history it helps your score.

Now, the thing is that the type of things you are talking about adding will raise your score but it's not really going to count for much because these are not the type of accounts that lenders look for when they are making a decision weather to grant credit or not.

To have a good credit score/profile you need a mix of at least 3 revolving accounts (credit cards) and 2 installment accounts (cars, boats, home, personal or furniture loans) all with good long pay history's.

Great credit takes years to build and only a couple of months to trash.