Having your cell phone payments appear on your credit history can help you build credit. But unfortunately, no cell phone companies report your account information to the credit bureaus. So instead, you’ll need to use a third-party company specializing in reporting utility bills. Do Cell Phone Companies Report to Credit Agencies? Cell phone companies do
Did you know that the most common bills you pay every month do nothing to help you build credit? For example, monthly payments made to your landlord or electricity provider do not typically appear on your credit file. Only credit card payments and loan payments get sent to the major credit bureaus (by the loan
MyFICO and Credit Karma are two of the most popular credit services. Their products both have different strengths and weaknesses. Our verdict: Credit Karma is better for casual credit monitoring, since it is free. MyFICO is better if you are getting ready for a major purchase, like a home or a car. They require that
Your credit reports are directly tied to your Social Security number (SSN). When applying for new credit (i.e., a credit card), your credit profile is checked using your SSN. A CPN scam is a type of synthetic identity fraud where you use a SSN that has not been assigned to you by the Social Security
Becoming an authorized user on someone else’s credit card can be a completely legitimate way to build credit. If a family member or close friend offers you the option of being added as an authorized user to their credit card account, then feel free to take them up on it. But, if someone is offering
Credit tradelines, and the information contained in them, are what make up your credit history. These tradelines can include credit cards, auto loans, home loans or student loans. Scoring models take the information from these tradelines to calculate your credit score. Lenders not only look to see if you meet their minimum credit score requirements,
Our verdict: Experian BOOST™ is worth it if you have bad credit or a thin credit profile. It’s free and quick, and the average user sees a 13 credit score point boost. Try Experian If you are looking to improve your credit, you may have stumbled across Experian BOOST™ and their memorable purple cow ads.
Look out, Credit Sesame now offers more than just free credit scores and credit report information. They have a new credit building account called Sesame Cash that works like a debit card and reports like a secured credit card. The debit card aspect allows you to save money by avoiding credit card debt. And the
Our Verdict Rental Kharma is a rent reporting service that allows you to customize your package to your needs. If you live alone and you’ve only been renting for a few months, then there is no need to pay for services you don’t need. But if you do want to add renters or additional payment
Our Verdict RentReporters is a well-established company that helps people build credit by reporting their rent payments to the credit bureaus. Their services are on the pricier side, but they do provide a lot of benefits which include free credit reports, credit experts, and more. They also offer a discount if you pay the monthly
