Can a service improve your credit?

[scorch]

I've been hearing lately that a monthly service such as a cell phone can improve your credit. For some reason a lot of cell phone companies like to check everyone's credit. I know the one's that do credit checks want to lock you into a contact. OK, so if they lock you into a contract and you make all the payments on time, does this improve your credit?

Thank you.

[chane]

Originally Posted by scorch

I've been hearing lately that a monthly service such as a cell phone can improve your credit. For some reason a lot of cell phone companies like to check everyone's credit. I know the one's that do credit checks want to lock you into a contact. OK, so if they lock you into a contract and you make all the payments on time, does this improve your credit?

Thank you.

Unfortunately, cell phone companies don't report to credit bureaus unless you are delinquent on the account. You could pay them on time for 20 years and they will never report that. But, if you are late for 90 days, you will definitely see it on your credit report. Not real fair, is it?

[scorch]

Hello, chane. Yea that's not completely fair. Well I was using cell phone service as an example. So I take it no other companies report your positive activity? ie: t.v., internet, electricity, etc.

[chane]

Originally Posted by scorch

Hello, chane. Yea that's not completely fair. Well I was using cell phone service as an example. So I take it no other companies report your positive activity? ie: t.v., internet, electricity, etc.

Nope, none of them. And just like the cell phone companies, they will report you to a collection agency after 90 days of delinquency and it will be reported on your credit report.

Another big one that doesn't get reported is rent. I've paid my rent on time every month of my life and have never gotten credit for it.

Credit repair evens out the game a little bit, since it allows us to dispute accounts, but it is still one sided and not even close to being fair for consumers.