topic Re: Utility Bills on CR?? in Understanding FICO® Scoring

Utility Bills on CR??

Anonymous — Tue, 01 Jan 2008 16:36:09 GMT

Why don't utility/cable bills show up on credit report? How can those agencies get on your credit report?

Re: Utility Bills on CR??

haulingthescoreup — Tue, 01 Jan 2008 17:10:48 GMT

They're not extending you credit. They're billing you on a month-by-month basis for a service or product received.

With as many screw-ups as people already have on their reports, I'm just as glad that there's not one more category!

Once you get your real credit lines up and reporting (and squeaky clean), you'll be very happy that you don't have to worry about some hung-over meter reader screwing up your reports and scores.

Re: Utility Bills on CR??

Anonymous — Tue, 01 Jan 2008 17:13:57 GMT

They're not extending you credit. They're billing you on a month-by-month basis for a service or product received

Actually thats not strictly true. They are indeed extending you credit as most utilities bill you in arrears. This is why they do indeed have permissible purpose to pull your credit when you apply for utilities. They just don't normally report as accounts. If they did they would report as a charge type account with the balance due in full each billing period.

Van

Re: Utility Bills on CR??

haulingthescoreup — Tue, 01 Jan 2008 17:17:15 GMT

Vanyel wrote:
They're not extending you credit. They're billing you on a month-by-month basis for a service or product received

Actually thats not strictly true. They are indeed extending you credit as most utilities bill you in arrears. This is why they do indeed have permissible purpose to pull your credit when you apply for utilities. They just don't normally report as accounts. If they did they would report as a charge type account with the balance due in full each billing period.

Van
That's true, Van --that's a much better description. Still grateful! Imagine Comcast or AT&T let loose on my reports --brrrr.

Re: Utility Bills on CR??

Anonymous — Tue, 01 Jan 2008 17:33:28 GMT

@haulingthescoreup wrote:
@Anonymous wrote:
They're not extending you credit. They're billing you on a month-by-month basis for a service or product received
Actually thats not strictly true. They are indeed extending you credit as most utilities bill you in arrears. This is why they do indeed have permissible purpose to pull your credit when you apply for utilities. They just don't normally report as accounts. If they did they would report as a charge type account with the balance due in full each billing period.
Van
That's true, Van --that's a much better description. Still grateful! Imagine Comcast or AT&T let loose on my reports --brrrr.

Exactly the reason that when I was in trouble utilities came last. (And yes, I did have my elec/water shut off once.)

Oddly enough I was on the phone with AT&T awhile back and inquired about adding their digital TV product and dropping comcast. Somehow it came up that I had 'perfect credit' with AT&T. I thought, huh? and said as much. She said my payment history is perfect. So it seems even though I wasn't always diligent in paying them on time, they still love me.

Re: Utility Bills on CR??

Anonymous — Tue, 01 Jan 2008 20:11:14 GMT

@Anonymous wrote:

@haulingthescoreup wrote:
@Anonymous wrote:
They're not extending you credit. They're billing you on a month-by-month basis for a service or product received
Actually thats not strictly true. They are indeed extending you credit as most utilities bill you in arrears. This is why they do indeed have permissible purpose to pull your credit when you apply for utilities. They just don't normally report as accounts. If they did they would report as a charge type account with the balance due in full each billing period.
Van
That's true, Van --that's a much better description. Still grateful! Imagine Comcast or AT&T let loose on my reports --brrrr.
Exactly the reason that when I was in trouble utilities came last. (And yes, I did have my elec/water shut off once.)

Oddly enough I was on the phone with AT&T awhile back and inquired about adding their digital TV product and dropping comcast. Somehow it came up that I had 'perfect credit' with AT&T. I thought, huh? and said as much. She said my payment history is perfect. So it seems even though I wasn't always diligent in paying them on time, they still love me.

This is strictly a YMMV thing. When I lived in a different apartment in a different city many years ago, my gas company reported to my CRs. I was never late on payments; they actually reported my timely payment every month!

That account was closed when I moved out of that apartment, and the account was marked "Closed by consumer" with a $0 balance. I think they must have some sort of glitch, though, because even though the account has been closed for years, they're still giving me little green boxes every month to this day. I have no intention of disputing that.

Re: Utility Bills on CR??

Anonymous — Tue, 01 Jan 2008 20:13:08 GMT

Oh, and for the record, they didn't report as a charge type account. There is a specific account type called "Utility", and that's how they reported.

Re: Utility Bills on CR??

Anonymous — Tue, 01 Jan 2008 20:22:21 GMT

WhirledPeasPlease wrote:

Exactly the reason that when I was in trouble utilities came last. (And yes, I did have my elec/water shut off once.)

Oddly enough I was on the phone with AT&T awhile back and inquired about adding their digital TV product and dropping comcast. Somehow it came up that I had 'perfect credit' with AT&T. I thought, huh? and said as much. She said my payment history is perfect. So it seems even though I wasn't always diligent in paying them on time, they still love me.

Heh. AT&T is funny that way. I had a cell phone with them many many years ago, I think they threatened to shut me off for nonpayment 6 or 7 times. I moved out of the country for a while, and dropped my service. When I came back and needed new service, my CRs were ugly (!), and all the other carriers wanted $1000 deposits just to sign me up.

AT&T took me back with open arms, though, with no deposit since I had supposedly been such a good customer in the past. I was like...."Um, if you say so."

Message Edited by cheddar on 01-01-2008 12:22 PM

Re: Utility Bills on CR??

Junejer — Wed, 02 Jan 2008 03:47:41 GMT

I live in WI and the good ol' utility company reports to TU here. It drives me up the wall. They actually show up as "other" on myFICO. On the tri-merge, it shows up as a Commercial account. Had some trouble with the account during divorce and consequently the thing is reporting some 90 day tardies. UUGGGGHHHH! Consequently, my TU FICO is 564 compared to 677 & 742 at the others. I am going to GW them tomorrow. Can't hurt.

Be grateful that they don't report in your area.

Message Edited by ByrdMan on 01-01-2008 07:47 PM

Re: Utility Bills on CR??

Anonymous — Wed, 02 Jan 2008 06:36:46 GMT

ByrdMan wrote:
I live in WI and the good ol' utility company reports to TU here. It drives me up the wall. They actually show up as "other" on myFICO. On the tri-merge, it shows up as a Commercial account. Had some trouble with the account during divorce and consequently the thing is reporting some 90 day tardies. UUGGGGHHHH! Consequently, my TU FICO is 564 compared to 677 & 742 at the others. I am going to GW them tomorrow. Can't hurt.

Be grateful that they don't report in your area.

Message Edited by ByrdMan on 01-01-2008 07:47 PM

Good luck! TU loves me (well, sorta) for some reason. Too bad we can't swap a few scores.

Re: Utility Bills on CR??

Junejer — Wed, 02 Jan 2008 06:57:10 GMT

Peas:

TU has always hated me. Even when I had all scores in the 700s, TU's was always the lowest. I wish I could borrow a few points from EQ to give to TU. )

Re: Utility Bills on CR??

haulingthescoreup — Wed, 02 Jan 2008 14:21:05 GMT

@Junejer wrote:
Peas:

TU has always hated me. Even when I had all scores in the 700s, TU's was always the lowest. I wish I could borrow a few points from EQ to give to TU. )

I seem to be permanently on EQ's fecal chart. My only baddies are lates --no collections, etc --and EQ seems to get much more excited about them than do EX and TU. EX is always my highest. Too bad I have to wait 3 more months for a late to age before I can use it on something!

Re: Utility Bills on CR??

marty56 — Thu, 03 Jan 2008 00:24:39 GMT

I lived in Texas since 1983 I wish the utility company here did report since I was never late with them and not to mention that it would have been the oldest account on my CR since I lost my 1979 JCP card in the DMP when it was PIF and closed.

I do have a vintage 1984 Chevron card that has a 0 balance and never late. My pride and joy. After 2 billing cycles, I will use it to buy 1 tank of gas which I hope will be under 10% of my 2400 CL.

Message Edited by marty56 on 01-02-2008 04:24 PM

Re: Utility Bills on CR??

haulingthescoreup — Wed, 02 Jan 2008 23:58:49 GMT

@marty56 wrote:
I do have a vintage 1984 Chevron card that has a 0 balance and never late. My pride and joy. After 2 billing cycles, I will use **bleep** to buy 1 tank of gas which I hope will be under 10% of my 2400 CL.

Could be a near thing! Oil hit $100/ bbl today, and the local gas prices went up 18 cents/ gal while I was at work. (And yep, I need to fill up. sigh)

Re: Utility Bills on CR??

marty56 — Thu, 03 Jan 2008 00:23:37 GMT

Where did the "beep" come from. I thought I typed "it" I hope I didnt fat finger anything.

I just filled up as well. Gas was $2.89. It was $2.77 last week.

Re: Utility Bills on CR??

Anonymous — Thu, 03 Jan 2008 01:02:20 GMT

@Junejer wrote:
Peas:

TU has always hated me. Even when I had all scores in the 700s, TU's was always the lowest. I wish I could borrow a few points from EQ to give to TU. )

Yikes!! Why the difference in scores?

Re: Utility Bills on CR??

Anonymous — Thu, 03 Jan 2008 07:05:17 GMT

Let's make a DEAL!

(Just kidding Fico gods)

Re: Utility Bills on CR??

Anonymous — Thu, 03 Jan 2008 07:06:43 GMT

marty56 wrote:

I just filled up as well. Gas was $2.89. It was $2.77 last week.

Nice. We were paying 3.05 last week and we're not typically high!

Re: Utility Bills on CR??

Anonymous — Thu, 03 Jan 2008 07:19:08 GMT

WhirledPeasPlease wrote:

marty56 wrote:

I just filled up as well. Gas was $2.89. It was $2.77 last week.

Nice. We were paying 3.05 last week and we're not typically high!

NYC here. Can't remember the last time gas was under 3.25.

Re: Utility Bills on CR??

jackg — Thu, 03 Jan 2008 18:52:46 GMT

dragracer,

I live in Michigan and, DTE is my natural gas supplier. They began reporting to all 3 CRA's in June 2006 (approx.). The category under which it falls is "other". From what I see it does not effect utilization, and it's a continually updated number each month. Your current statement balance is what's reported. While I haven't been able to identify a down side to this I haven't been able to find an upside either, other than an aging tradeline.