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Utilities to build credit?


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Not always true. It must depend on the utility company. The gas company on my rental in Philadelphia reports every single month. It is noted UTILITY and is considered an installment account. The electric company does not report. The highest monthly bill that I have had so far is reported as my credit limit. I suppose if I get a high bill one month that exceeds the "credit limit" that will tank my FICO due to 100% utilization. :evil: (maybe this is part of the reason my TU FICO has dropped 80 points since taking possession of the rental in April).

On my primary residence just outside Philly, I am not sure who reports what. My wife's name is on the utilities. If I recall, the gas company out there reports monthly as well. I think it showed up in our dti when we were considering buying another house.

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