Do I update or do they?

[Sinamenone]

What is the name of your state (only U.S. law)? Md
Good morning to my understanding only negative ratings are in your credit report.
Is there a credit report for positive standings?
I'm wondering because for the past year, I've paid my mobile, cable, rent, renters insurance & auto insurance, early or on time.
Will the 3 credit bureaus reflect this if I order my credit report?
Do I need to do something to have my credit show I've been making timely payments?

 

[single317dad]

What is the name of your state (only U.S. law)? Md
Good morning to my understanding only negative ratings are in your credit report.
Is there a credit report for positive standings?
I'm wondering because for the past year, I've paid my mobile, cable, rent, renters insurance & auto insurance, early or on time.
Will the 3 credit bureaus reflect this if I order my credit report?
Do I need to do something to have my credit show I've been making timely payments?

The three major consumer reporting agencies (Equifax, TransUnion, Experian) all report good credit information as well as bad. Any payments you make on a mortgage, auto loan, credit card, or personal loan should be reported to the CRA and part of your semi-permanent record. The kinds of bills you describe do not revolve around debt and are not considered part of the credit record and are not reported to the big 3 agencies (though if you have a traditional cellular contract there is a fair amount of debt involved with that). The only agency that reports on this activity is PRBC, and its use is limited.

If you pay your utilities, they don't report anything positive to anyone, but you are correct in assuming that if you do not pay your bills (they become debt), they may report that fact to the credit bureaus. Duke Energy, all of the wireless carriers, Dish Network, and Comcast all report negative accounts. A judgment or court case against you would also be a negative mark.

Bottom line: you need a credit card if you want to start building your credit.

 

[justalayman]

Bottom line: you need a credit card if you want to start building your credit.

well, maybe not a credit card but some sort of debt associated with regular payments such as a loan. Car loans or even general personal loans will do the trick.


but, there is generally no requirement any creditor report to the CRA's. It is voluntary.

 

[Mark Maroon]

The three major consumer reporting agencies (Equifax, TransUnion, Experian) all report good credit information as well as bad. Any payments you make on a mortgage, auto loan, credit card, or personal loan should be reported to the CRA and part of your semi-permanent record. The kinds of bills you describe do not revolve around debt and are not considered part of the credit record and are not reported to the big 3 agencies (though if you have a traditional cellular contract there is a fair amount of debt involved with that). The only agency that reports on this activity is PRBC, and its use is limited.

If you pay your utilities, they don't report anything positive to anyone, but you are correct in assuming that if you do not pay your bills (they become debt), they may report that fact to the credit bureaus. Duke Energy, all of the wireless carriers, Dish Network, and Comcast all report negative accounts. A judgment or court case against you would also be a negative mark.

Bottom line: you need a credit card if you want to start building your credit.

I agree with all of the above, but I would add that there are other "consumer reporting agencies" besides the three major CREDIT consumer reporting agencies. For instance, if you bounce a lot of personal checks and leave depository personal bank accounts with a negative balance, then there are reporting agencies for that sort of thing and they will make it hard for you to open a new bank account. Similarly, if you skip out on a utility bill, then there are reporting agencies that will make it hard for you to get a new utility bill unless you prepay a deposit, etcetera.

http://www.fingerprinting.com/consumer-reporting-agencies.php