- Centurion Member
- Posts: 639
- Joined: Sat Aug 24, 2013 8:45 pm
- Location: Grand Forks, ND
Politically, I am a libertarian so I oppose the bill as another government intrusion into private enterprise. If a landlord or utility company wanted to today, they could report their customers info to the credit bureaus. Most wouldn't want to bother with the hassle of doing so. Here's some other things to consider:
(1) It costs money to submit info to credit bureaus. Who is that money going to come from? Not the landlord or utility company- they're going to pass it onto us.
(2) The bill is supposed to help those who have no credit, but it would end up hurting them. Why? Because those who have no credit are the same ones who tend to pay their electric bill a day or two late occasionally or live paycheck to paycheck and pay their cable bill right before it gets shut-off. Johnny Q. Thinfile may lament the fact that his utilities aren't on his credit report, but he doesn't realize that one payment made one day late in a year's time would be seen as a bad thing in the world of credit. As the article mentioned, it is a lot easier for a score to go down than go up.
(3) So your landlord has been putting off fixing your leaking sink. One way to show him it really needs fixing is to delay your payment until it is fixed. But fast forward to a time where rent payments are reported to the credit bureau. You don't have any leverage, he has all the leverage... that sink will never get fixed.
This is a bad idea all around...
In my Wallet:
Sometimes in my Wallet:
- Amex PRG NPSL[3-14, bd 91]
- Sallie Mae MC $8000[1-14]
- Chase Freedom $4700[1-14]
- Discover It $2750[8-13]
- BoA UCF Alumni Cash Rewards $5000 [3-15]
- GM BuyPower WEMC $5000[9-14]
- Wells Fargo Propel 365 Amex $7000[4-14]
- Barclaycard Arrival WEMC $7000[3-14]
- BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450