does your utility bills reflect in your credit history ?

Question

In my report; I just see my debts and there is no mention of electricity or cell phone bills; how comes ? so actually paying your bills on time doesnt improve your credit score !!! am I right ?

Answer 1

Depending on where you live , which utility compaines report to the agencies. Here in Wisconsin , the Electric Company reports but not the telephone. It is important to pay ontime! IF you let it get out of control and it goes to collection that will be reported.
HERE are some things to remember when trying to rebuild your score...

It is impotant to remember that your FICO is made up of a percantage of things
35% = Making ONTIME payments, even if it is the MINNIUM!
Mail it in a week early!

30%= debt ( monies charged, loans..) VS. What amount of credit is actually available to you. The smaller debt and bigger credit is what you are aiming for.

15%= Length of credit history. Having accounts open years ago, actually helps sometimes. Unpaid ones could potentially help also, it is establishing how long you have been around , getting credit. Shows them you have a history. So dont go cancelling older cards... that would erase some of your history , actually damaging your score.

10% = New accounts and inquires on your credit.
Obviously more inquiries lowers your score.

10% A good mix or balance on the types of loans and credit you have. ( RE: Home , car, credit, departmant store)

Answer 2

The answer by OC1999, following, is correct but read further for more info.......Utility bills are a double edged sword. You have to have good credit to open up utility accounts. Then if you pay on time it will never be reported that you are doing good. However, if you don't pay that will show up on your report as a delinquent account, which will harm your score....... HOWEVER, paying other bills on time DOES improve your credit scores. ALSO, Electric and Cell phone, etc. that have good on time payment history can be used as alternate lines of credit which many lenders will request is the credit on the report is not very good or non-existent. Generally they will ask for 3 to 4 alt lines for a home mortgage loan as an example... Good Luck...

Answer 3

I agree with OC & D...to an extent. Yes, while you have to have good credit to open up utilities, and they don't normally report unless you don't pay them, there is a NEW credit bureau called PRBC that has changed that. Utlities, insurance, cable/satellite, cell phone, landline phone, and most importantly RENT all can be reported as "alternative credit" with PRBC. They score the payments of these accounts in a report that can be used along with your traditional credit reports to give a more accurate and and detailed look at your credit history.

Answer 4

No, utility type bills are not credit items. Right? There is no credit evaluation, credit line, loan or interest.
My Blockbuster, Gym membership, cable bill etc, are not reported either.
From a practical perspective , since 99.99% of people pay their utility bills reporting them would be meaningless.

Answer 5

Utility bills are a double edged sword. You have to have good credit to open up utility accounts. Then if you pay on time it will never be reported that you are doing good. However, if you don't pay that will show up on your report as a delinquent account, which will harm your score.

Answer 6

Pretty unfair huh??? Bills such as phone, electricity, medical, gym membership, etc....only get listed on your credit report as negatives.

Life is many times unfair.

Answer 7

Company's have to pay to report to credit agency's so generally untilities only report upon delinquency.

Answer 8

i think if you dont pay them they can turn them into a collection agency which can affect your credit. anyone can turn any debt into a collection agency.