FICO scoring model change to include utility payment history, a help or hurt?

[vanillabean]

Received the Chex reports for DW and me in the mail today; included nothing but credit union inquiries. I'm not so sure I want to go for NCTUE though.

[printosaur]

U.S. Consumer Financial Protection Bureau is upping the pressure to use alternative credit scoring measures.

The 26 million people without credit history are disprportionately poor, young and minority, it says.

Study:

http://files.consumerfinance.gov/f/201505_cfpb_data-point-credit-invisibles.pdf

[printosaur]

Could be risky. The municipal water utility never managed to get a bill to me after I bought my house. I did not realize the bill wasn't being paid until a collection agency letter came. The house had a different address in the municipal records than the postal address.

[MarineVietVet]

Two threads merged.

[Anonymous]

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@Anonymous wrote:

And in the article, moving addresses too often would also be an impact on the score. College students or even young 20s would get dinged for that.

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Not just the young ones...military and those with certain mobile careers (like my husband & I)...this would unnecessarily hurt us. As an example, my husband & I both have 8 addresses on our TransUnion accounts...and that's only a portion of the addresses we've had in our almost 20 years of marriage.

I don't think an address change should hurt our score.

[nlciii]

That does suck!  I have also recently found that 2 of my oldest accts (unopened Capital One and CU cc's). are not reporting positive info that would raise my AAoA too.  Can you request to have them reported (via registered mail?), and would you go to the CRA's or the creditor directly?

[Revelate]

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@nlciii wrote:

That does suck!  I have also recently found that 2 of my oldest accts (unopened Capital One and CU cc's). are not reporting positive info that would raise my AAoA too.  Can you request to have them reported (via registered mail?), and would you go to the CRA's or the creditor directly?

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Unopened?

Unfortunately I don't know of any creditor that will re-report a closed account unless it still has a balance which isn't satisfied; generally once it's gone it's gone.