New Member
fishnfella11
Posts: 2
Registered: ‎01-27-2013
Credit utility scores.

I am a new member on the forum. I have an excellent financial situation and a spotless credit history.....0 negative accounts, 0 collections, and 0 late payments.

My debt to income ratio is around 7%....a 444$ mortgage payment with an after tax monthly income of 6,500$. I have recently been financed for a home by a major bank,a truck purchase by a federal credit union and have 2 credit cards extending 3000$ each and frequent monthly prequalified offers of more credit....for a total of around 65,000 in credit recently granted me. I use the cards sparingly and pay them off monthly.

 

Yet I have recently been denied credit by a small utility co-op for monthly electricity use which will average less than 50$ The reason given for refusal was " an Equifax "utility score of less than 94"....the co-ops cut off point. I have been unable to find any reference to a " Utility Credit Score" on any of the consumer credit websites. I don't know my FICA score but one estimate program given from my data provided was 745-795. I am both confused and befuddled by this event and have no idea if I have an Equafax scoring problem or a problem with the Co-op credit manager ignoring an adequate/above average FICA score and using some obscure other means to obtain an unneeded "security deposit" for a miniscule monthly utility bill.

Has anyone ever encountered anything like this? What is a "Utility Credit Score" and what factors go into it. Can it be repaired. I don't feel I should be having any problems, I have spent the last 30+ years maintaining a flawless credit history so credit would be available if and when I need it and I am angry.