Does Direct Tv or Verizon report to credit bureaus?
I am moving and would like to sign up for Direct Tv or Dish Network. Direct Tv told me that when they ran my credit check, I would have to provide an upfront deposit of $200 to secure service, and that deposit would be paid back to me in $5.00 amounts each month. Seems dumb to me, but I realize they do it to protect themselves. (I also asked if I cancelled my service after my two year agreement and still had $80 left on the deposit if I could get that back- they told me NO.)
Anyway, does Direct TV report to the credit bureau each month? I can't get approved for any loans/credit cards because my score is around 450, so I was hoping that Direct TV would report my on time payments every month. I read somewhere that you can request any utility company to report to the credit bureaus.
Also, I currently am on my parents cell phone plan but will be going on my own when I move. Verizon told me that I would have to put down $150 as a deposit and that I would get it credited back to my bill after 12 months of on-time payments. Sprint said the same thing- although their deposit was $125. Do Verizon and Sprint report your monthly payments to the credit bureaus as well?
Since I can't seek any new credit to make payments on to rebuild my poor payment history, I want something that shows I pay on time each month. The loan officer at my little hometown bank said that the installment loan places such as Security Finance and American General hurt your credit rather than help it. So I'm staying as far away from them as possible.
Any other suggestions to rebuild my credit?
As a general rule, phones, tv and other utility payments do not
As a general rule, phones, tv and other utility payments do not report to the credit bureaus.
If you dont pay no matter what agency you get reported. SOAPLADY
If you dont pay no matter what agency you get reported. SOAPLADY I dont know what world you live in but your wrong. Agency's want their money and will do what it takes to get it even if that means reporting to credit bureaus.
MOD NOTE....I was referring to a current account reporting to raise his credit score. This is what the OP was asking....of course they can and will report if you default.
I can give you a little help. If you go into default on a cell
I can give you a little help.
If you go into default on a cell phone account it will be reported since they want their money. But, if you pay them on time, they DON'T report to your credit. Sucks.... I feel you there.
Direct tv is the same case. They DON'T report to your credit. From what I hear, even if you owe them, they still wont report to your credit.
What you need to do is simple and takes forever.
Start by not applying for ANY credit. EVER. Your score is in the toilet. You need to focus on paying every current card and/or account on time, if you are lucky to have any open.
You need to take your tax return, or a hefty chunk of money, and go to your small town bank and put your hefty chunk down on a secured card.
Say you give them $1,000 dollars towards a secured card. They'll in turn give you a credit card with a $1,000 dollar limit. Pay your card on time EVERY TIME. You'll start a good payment history.
The key to credit is ALWAYS pay on time, never apply more than 2-3 times in 2 years for other cards. Every time you apply for a credit card, or a line of credit, creditors call it a hard inquiry. The more you have, the more desperate you look.
Bad marks will stay on your credit for up to 7 years.
I know you hoped for better news, but I wont lie.
Just think like this. By the time your 32 years old, if you do this secured card and don't apply for any cards, your credit will come back into the 600+ range.
The more secured cards, and the higher the amount of money you put on them the better, Don't exceed 4 secured accounts.
Wells Fargo offers a secured card....from what I understand you
Wells Fargo offers a secured card....from what I understand you can open one with as little as $200 down.