Does a cell phone bill establish credit?
Answers:
Cellular phones don't usually show on your credit unless you're delinquent and it's sent to collections. But there's a credit bureau called PRBC that reports not only that but, rent, utilities, day care, etc. as positive credit. I posted a link to their website which I strongly urge you check out.
No, because it's not reported to credit bureaus every month, like credit cards and home loans etc...
Yomi Min.., I think you are mistaken. Cell phones, electric bills, cable etc... are NOT reported to credit bureaus, because these are not forms of "credit", therefore, they cannot be used to "establish" credit. Credit is money loaned to someone w/ a promise to pay it back, such as credit cards, school loans, car payments and mortgages. NOW, it does look favorable if you don't have a delinquent cell phone bill in collections etc... but making regular payments on your cell phone, in itself, doesn't establish credit. If that were the case, people would be using their Electric bills and cable bills to qualify for a Macy's "credit" card. And we all know that's not how it works.
Smoovy Loco, that website is some type of optional program you can use to help qualify for a mortgage. I don't think Lenders use that "by default."
It sometimes depend on the company, but yes.
it can cause negative credit because they will report you to the credit bureau if you don't pay so if you sign a contract with a cell phone provider then when the contract end or you renew it you will establish credit
Yes it is, cell phones, storage units, your rent payment, all the way up to house payments and clearly credit cards being what everyone knows about are all ways to make yourself have credit, some faster then others.
Anything that you sign a contract for saying you will pay x amount of money at x time over x many months is credit.
The cell phone is yours to use and then you pay for it at the end of the month, same as a credit card you use the money then you pay it back at the end of the month.
Cell phones are a very good way to establish credit when you don't have either the money for much more, or the want to take care of a credit card.
Why else would the cellphone company look at your credit score before letting you get a phone from them. Unless your talking about a pay as you go phone where you buy phone cards then the company is not giving you credit, but if you get a bill every month then yes you have credit.
yomi mi..that is not true, just because you have a monthly payment does not mean that it shows on your credit. but you can bet if you don't make the payment that it shows. electric and cable and phone DO NOT report to the credit agency's, cbi, transunion, and trw.
and neither does the cell phone company!
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