Does your cell phone bill help build your credit score?

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GoCreditGo!
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Does your cell phone bill help build your credit score?

Postby GoCreditGo! » Tue Nov 19, 2013 9:54 pm

Does paying your bill on a regular basis to tmobile help your credit report and score?


joemacgames
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Postby joemacgames » Tue Nov 19, 2013 10:12 pm

I don't think it helps it, but if you don't pay then it could hurt it
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BonusPack
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Postby BonusPack » Tue Nov 19, 2013 11:00 pm

I've heard many different things regarding this question and I always thought it did help. However I've seen more than one person on this website claim otherwise.

However at the age of 21 when I applied for discover it they approved me with a credit score of 740. Now at the time I had only one other credit card, however I had two bills (internet and phone contracts) hooked to my social security number. So that being said i had just always assumed I had such a good credit score for my age because of those factors. and I'm a student with a part time job so I don't think income had anything to do with my score lol.

So in the end Im not sure. Id love to hear the answer if anyone knows without a doubt though. Very interested c:

GoCreditGo!
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Postby GoCreditGo! » Wed Nov 20, 2013 12:51 pm

I called Tmobile and they said that they check for credit, but they don't post unless you don't pay. Bugger. :(

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otter
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Postby otter » Wed Nov 20, 2013 5:56 pm

Without a doubt... paying phone, utility, cable, etc, etc does not usually get reported. A notable exception is if you become delinquent on paying the bill. In that case, it will be reported as a collection. Trust me, I'm 44 years old and I've never had any of the dozens of utilities in my name show up in my credit report. In theory, they probably could (even though technically speaking they really aren't extending you credit. They're not loaning you money; they're extending you service assuming good faith that you will pay them for the service already rendered). If they did report monthly, it opens up a floodgate of new rules, regulations, and laws which no phone company, utility, etc would want to deal with.

Having a score of 740 at 21 years old is not that difficult to obtain even with a credit history of one card. 35% of your score is paying on time, 30% is utilization, and around 10% is inquires. So if you had one card, always paid on time, and kept utilization low- 750 is definitely attainable. 800 would probably not be very likely, though.

And income is never part of your credit score, although it is almost always a factor in the credit grantors decision.
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GoCreditGo!
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Postby GoCreditGo! » Thu Nov 21, 2013 4:36 pm

You sound like you have a good card rotation for the essentials in your footer!



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