What Bills Report to Credit Bureaus?
Get clarity on which financial obligations report to credit bureaus and how to review your own credit history.
Credit reporting agencies, or credit bureaus, collect and maintain consumer financial information. Equifax, Experian, and TransUnion are the three nationwide bureaus that compile credit data. These entities create credit reports, summarizing a person’s credit history. Lenders, landlords, and other organizations use these reports to evaluate creditworthiness and make financial decisions.
Common Financial Obligations That Report
Many financial obligations report to credit bureaus, forming an individual’s credit history. Credit cards, including secured and unsecured accounts, report details like opening date, credit limit, current balances, and payment history.
Mortgages, including home equity loans or lines of credit, are routinely reported. These long-term obligations provide insight into managing substantial debt. Auto loans, for vehicle purchases, also contribute to credit reports. Payment performance on these installment loans is a regular reporting item.
Personal loans from banks, credit unions, or online lenders also appear on credit reports. Reporting includes the loan amount, payment schedule, and adherence to terms. Student loans, both federal and private, are reported to credit bureaus. This includes loan status, current balance, and payment history. For student loans, delinquency typically begins when a payment is 90 days or more past due.
Other Financial Obligations That May Report
Some financial obligations do not always appear on credit reports but can be included under specific circumstances. Rent payments are not traditionally reported by landlords. However, some landlords use third-party reporting services to submit rental payment data. These services can report on-time payments, which helps establish a positive payment history. If rent payments become delinquent and are sent to a collection agency, this negative information will likely be reported.
Utility bills do not report on-time payments to credit bureaus. Consistently paying these bills does not automatically build credit history. However, if an account becomes past due and is sent to a collection agency, that delinquent status will be reported. This can negatively impact a credit report.
Cell phone bills operate similarly to utilities; regular, timely payments are not reported. If a cell phone account becomes delinquent, typically 30 days or more past due, the provider may report the late payment or send the account to collections. Such negative reporting can appear on a credit report.
Medical bills do not show up on credit reports unless sent to a collection agency. Paid medical collection accounts are now removed from credit reports, and medical collections less than a year old are not reported. Medical collections with an initial reported balance under $500 are excluded. However, medical bills exceeding $500 that go to collections can still be reported.
Information Not Typically Reported
Certain regular payments and financial activities do not appear on credit reports. Insurance premiums fall into this category. Since insurance premiums are not considered a form of credit or debt, their on-time payment is not reported. An exception occurs if an unpaid insurance bill is sent to a collection agency, at which point it could be reported.
Subscription services are another example of payments not found on credit reports. These recurring charges are not shared with credit bureaus unless delinquency leads to the account being turned over to a collection agency. Similarly, direct payments between individuals remain outside the credit reporting system. These arrangements are not reported unless formalized through a lending institution or legal action.
Prepaid cards do not factor into an individual’s credit history. These cards require funds to be loaded in advance and do not involve borrowing money. Their use, regardless of payment behavior, does not contribute to building or impacting a credit report. Other information not included on a credit report involves income details, marital status, or medical information not tied to collections.
Accessing and Reviewing Your Credit Information
Regularly reviewing your credit information is important. You are entitled to a free copy of your credit report annually from each of the three credit bureaus. The authorized source for obtaining these reports is AnnualCreditReport.com. You can obtain one free report from each bureau weekly through this website.
When reviewing your credit report, examine sections for accuracy. Verify personal information, including your name, current and past addresses, and Social Security number. Scrutinize the credit accounts section, checking account types, credit limits, loan amounts, current balances, and payment history for both open and closed accounts. Pay attention to public records, which include bankruptcies, and review the inquiries section to see who has accessed your report.
If you discover inaccuracies or fraudulent accounts on your credit report, dispute them promptly. You can initiate a dispute directly with the credit reporting company (Equifax, Experian, or TransUnion) or the entity that furnished the incorrect information. Most bureaus offer online, phone, or mail options for submitting disputes, which require a written explanation and supporting documentation. The credit bureau is obligated to investigate non-frivolous disputes and correct or remove errors.