Reply
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
0

Re: Payment Timelines



cheddar wrote:


Cooneyca wrote:
Befpre then it's not really a credit/loan account.  Just an agreement to pay for services.

Technically then, cell phone companies don't have PP to pull your report, yet you can't get any non-prepaid cell service from a major carrier without a credit check.  I think the rationale is that if it's not prepaid, then technically it is a credit account since they are offering one month terms, so they do have PP.  They just don't report becaue they don't have to, and because they would have to pay for it if they did.
 
Incidentally, a natural gas provider I had in an apartment I moved out of 4 1/2 years ago did report, and to this date it's still updating "OK" every month, even though it does show "closed at consumer's request."
 
Hey, if they want to give me little green boxes every month even though the account has been closed for years, I won't complain.
 


 
Look at it like this, unless youo are getting a pre pay service like Cricket, yes cell phoen companies do have the right to pull your report jsut as utilities do.  You are using services BEFORE being required to pay for them, therefore getting a short term loan of those services or credit.

Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Payment Timelines



Brammy wrote:


cheddar wrote:


Cooneyca wrote:
Befpre then it's not really a credit/loan account.  Just an agreement to pay for services.

Technically then, cell phone companies don't have PP to pull your report, yet you can't get any non-prepaid cell service from a major carrier without a credit check.  I think the rationale is that if it's not prepaid, then technically it is a credit account since they are offering one month terms, so they do have PP.  They just don't report becaue they don't have to, and because they would have to pay for it if they did.
 
Incidentally, a natural gas provider I had in an apartment I moved out of 4 1/2 years ago did report, and to this date it's still updating "OK" every month, even though it does show "closed at consumer's request."
 
Hey, if they want to give me little green boxes every month even though the account has been closed for years, I won't complain.
 


 
Look at it like this, unless youo are getting a pre pay service like Cricket, yes cell phoen companies do have the right to pull your report jsut as utilities do.  You are using services BEFORE being required to pay for them, therefore getting a short term loan of those services or credit.




Yep, that's what I said. :smileyhappy:
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Regular Contributor
Posts: 140
Registered: ‎08-10-2007
0

Re: Payment Timelines

My point was that they do not report like regular creditors.  They pull your credit report because everyone pulls your credit report to do anything these days.  I opened a savings account and they pulled my credit report.  My car insurance company pulled my credit report just to give me a quote. 
 
With some exceptions perhaps - I've never seen it, you will only see them pop up on your credit report if you default on money they say you owe them for services or goods rendered.  Technically, that may be the behavior of a creditor, but that's not what they are in the FICO world
 
The response I provided was in answer to the statement wishing good payments to these types of entities would show up.
Jan 07: tu 498, ex 501, eq 504
Oct 07: tu 716, ex 712, eq 723
Nov 07: tu 693, ex 664, eq 672_post app frenzy

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.