Question about new FICO score model that will include utility payments

[Anonymous]

Hi, I had a quick question.  Will this new model include late payments made before the new model takes effect, or will it only track scores from the date it starts?  If I had a 60 day late payment a year ago, will it show up in this new model?  

[Anonymous]

Wonder what it would do me as I have no utility bills at all....   All is provided for free by my employer so no utilities of any type for me.

[Anonymous]

I don't think it would matter in your situation.  I'm assuming you have credit cards and a credit history since you're on this forum.  I think it's meant to help people who don't have a credit history, but have paid their utility bills on time.

[Anonymous]

They said it was meant to help people with no credit histories but it will most likely be for all of us.  I just read this today.  Big article on it.  I know we all have to pay our bills but to factor in how many times you moved?   They also said is is in effect for some as we speak.  We just didn't know it.  They are working with 12 large cc companies on this.

[Anonymous]

That's pretty annoying.  I've moved 6 times in the past 10 years.  I've never had a late rent payment.  If my moving history has a negative effect on my credit score, I'm going to be really pissed.  That's not something I can help.

[Anonymous]

Yes, I was reading it I just got more annoyed.  I couldn't believe they would do this to everyone.  Afterall, we did work hard to get where we are.  Could be why the Vantage Score came out?  Right now, it's a wait & see what happens.  And I can't see where moving when you want to should have any affect on your score.

[Anonymous]

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@Anonymous wrote:

That's pretty annoying.  I've moved 6 times in the past 10 years.  I've never had a late rent payment.  If my moving history has a negative effect on my credit score, I'm going to be really pissed.  That's not something I can help.

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Whether you realize it or not, moving that much has already affected your credit.  Ever notice on a credit application the part where they ask how long you have lived at current address?  It might suck but historically people that move a lot have some instability in their life and creditors take notice.  It's the same for people that bounce from job to job.

[Anonymous]

Wouldn't utility companies have to start reporting to the CRAs? None of mine do currently.

[Anonymous]

I assume they will have to.

[vanillabean]

I can see where this is going, lol.