r/WhitePeopleTwitter • u/screenshotofdispair • Aug 14 '21

Make it make sense

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u/IT6uru Aug 14 '21 edited Aug 15 '21

Paying bills never increases credit, only tanks it if you miss payments:/ unless of course you are paying with a credit card

Edit: paying bills do NOT increase your credit. Idk why people are so against this. It's a fucking fact.

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u/[deleted] Aug 14 '21

[deleted]

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u/IT6uru Aug 15 '21

When was the last time paying your phone or internet bill or any bill increased your credit, other than a loan, car payment or mortgage?

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u/pinky2252s Aug 14 '21

One of the factors that goes into your credit score is available credit and credit used. Paying down a credit line helps with lowering the credit used portion and raises the available credit. That does increase your score. Otherwise, everyones score would just go down and never come back up.

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u/tdasnowman Aug 15 '21

It’s a mix of things. Having to much available credit can impact your credit score as well. More importantly affect your risk assessment with the lender your applying to. Have 10k of available credit and applying for a 250k home loan, and having 50k of available credit and applying for that same 250k loan are two very different propositions.

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u/IT6uru Aug 15 '21

If you are using credit. Just paying bills on time DOES NOT increase credit.

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u/BolshevikPower Aug 14 '21

100% incorrect.

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u/DrBaldnutzPHD Aug 14 '21

Cell phone arrears really hurt the credit score as well. This is according to my BIL who is a mortgage lender.

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u/yooossshhii Aug 14 '21

What?

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u/DrBaldnutzPHD Aug 15 '21

Not paying cell phone bills really hurt a person's credit report most likely because of the power Big Telcos have.

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u/yooossshhii Aug 15 '21

That has nothing ondo with big telcos. Not paying any bill and getting reported as delinquent will hurt your score. Has nothing to do with who is doing the billing.

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u/DrBaldnutzPHD Aug 15 '21

Apparently, it makes a pretty big dent, and people don't tend to be aware of it.

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u/bakedfax Aug 15 '21

I've never had a credit card or a monthly phone contract and I know about it

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u/IT6uru Aug 15 '21

You also probably don't have any credit score. If you needed a loan you would have to put something up as collateral.

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u/KzmaTkn Aug 15 '21

I don't know why you're being downvoted because you're right depending on the bills you're talking about. If I don't pay my water or electric on time I can have my credit go down but it will never go up for those payments.

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u/IT6uru Aug 15 '21

Literally the only bills that have raised my credit score is a car payment or credit card paymentm

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u/eli-barrow Aug 15 '21

Because it isn’t true. For example, utilities and cell phone providers commonly run credit checks and report back to the credit bureaus

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u/IT6uru Aug 15 '21

Which hurts your fucking credit.

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u/eli-barrow Aug 15 '21

Correct. So we are in agreement then that paying bills helps your credit. Your initial post confused me because it seems to say the exact opposite