Rebuilding Your Credit

[maluba]

Hey, I was wondering, is there a way to add non traditional positive tradelines to your report? Like inusrance payments or utility payments?

[bettercreditguy1]

The utility or insurance companies would need to do that. It would not behove them to report millions of accounts that are paid on time. Reporting that many accounts would be a logistical nightmare to manage. Conversely, unsaid/unreported is implied good.

[maluba]

Could I ask them to?

[Shogun]

They will not post to your CR.  With utilities, the only way you will see a post from them is a delinquency.  Sorry.  

[maluba]

*sigh* it was worth a try

[ktl72455]

Not meaning to Hijack the thread but I have a similar question along these lines.

Types of postive Credit Mix:

I have 3 CC's and nothing else.

I have a friend who bought a Bed and kitchen table from a "buy here, pay here" type store. It shows on his credit report as Personal Loan.

Is that something I might want to consider just to get a better credit mix on my credit report?

[guiness56]

Yes, that would be considered an installment loan. 

[ktl72455]

Ok thanks! I dont really need anything but I could use the credit boost aspect of it!

I'll check into it after I get other loose ends taken care of!

[ktl72455]

Is finger hut also considered a installment loan or a store card?

Do I need a large balance? The buy here, pay here store shows the balance of your purchases and goes up and down with each payment or new purchase where as Finger Hut has a available credit so wondering if they are the same for the credit mix or not?

Is just haveing new postive tradelines showing even if I dont buy anything major enough to help my scores or is there more to this that I should be thinking about beside almost paying double for a item in a trade off for a positive trade line?

[guiness56]

Fingerhut would be revolving.  

No, just having the mix of credit should suffice.  Shouldn't need to purchase anything or have a big balance,. 

You could also get a small personal loan from your bank or CU and it would be installment . 

Installment utilization is separate from revolving utilization and has little impact on your score.  What you need is the credit mix.