Overview of Telecom Companies and Credit Bureaus
Telecom companies report customer data to credit bureaus like Experian, Equifax, and TransUnion. The self-reported information is included in your credit report, which may also include utility bills. Knowing which bureau is checked by mobile carriers can help increase eligibility. Third-party companies can report phone bill payments to help build credit.
Does Cell Phone Payment Impact Credit Score?
Cell phone companies do not typically report payments to credit bureaus, but missed payments may be reported, damaging your score. Cell phone companies may check credit at renewal and deny new contracts based on credit scores.
Ways to Build Credit Through Phone Payments
Phone companies do not usually report to credit bureaus, but certain services can help build credit through phone bill payments. Timely payments on phone financing plans can boost your credit score. Consistent on-time payments are essential for building credit.