Verizon Communications Inc. has been in existence since 1983 and has been serving Americans and the whole world with quality telecommunications products like Cables, phones, landlines, etc when people use telecommunication services, they expect that their credit status is reported to the credit bureaus
by the telecommunications company especially when they are debt-free
Verizon Communications Inc. report to credit bureaus but their reports are only about accounts that have negative relationships with the company. Verizon’s operations are governed by some laws which does not permit them to share activities going on in an active credit account. The only time Verizon might report account activity to credit bureaus is when a person is so late on a payment to the point that they have to block the account. Hence, Verizon only reports to credit bureaus about blocked or written-off accounts and not about active accounts but if Verizon must report an active account, it’ll have to be sent to collections. This is why Verizon does not do anything when a customer requests that their accounts be reported to credit bureaus when they’ve adhered to payments for a good credit score.
Unfortunately, Verizon cannot help anyone build a good credit status because they must adhere to the rules that expect them to be independent and simple. In this case, customers will have to explore other ways to keep a clean credit score because cell phone payments do not help credit scores, and cell phone companies generally do not report credit scores.
How To Go About Credit Reporting?
Since Verizon does not report to credit bureaus about active accounts, customers will have to explore other ways for credit reporting and credit score
Get a credit card from your bank that reports to all three major bureaus. Find ways to get higher credit limitsEnsure to deal with collections accounts like that if VerizonGet credit for rent and utility payments, when you pay on time, it’ll be reported. Get another credit account to mix inform of a new credit card or credit-builder loanWhen you notice errors in your credit or an unrecorded payment ensures you dispute it immediately. Try to pay all bills on due or at least, within the 30days grace period. You can source for family or close friends who have a high credit limit and ask them to add you as an authorized user. When given your credit utilization, ensure you use a low percentage to skyrocket your credit score.
How To Get Yourself Out Of Collections?
Getting out of collections might not be an easy task but it is possible. The first thing to do is to clear your debt because you won’t be there if you’re debt-free and then, write to the company for deletion of your account in the collections but this might take time. If you have some money left, it is advisable to hire an attorney to help negotiate the debt but do not just sit quietly for the jury, face the creditors and dispute the debt.
Conclusion
In, Verizon reports to credit bureaus not about accounts that are still active but about accounts that have been blocked due to late repayment of a loan. Hence, Verizon cannot helo conclusion you build a credit score. You’ll need to explore other strategies mentioned above if you want to build your credit and when Verizon reports inactive accounts, they report to all three major bureaus which can destroy your credit reputation and make it difficult for you to build your credit.
Why do I need to build my credit? Credit building is a must but as life goes on and demands begin to increase, it becomes necessary and a strong requirement for life. Being creditworthy will enable you to take some loans when there are pressing situations and with the cost of living in the US and its environs, it is nearly impossible for an average person to live a comfortable life without occasional loans.
What is the best and easiest way to build my credit score?
There are two easy ways to speedily build your credit one of them is through credit utilization and the other is through a secured credit card from your bank.
Credit utilization means that you’re eligible to receive a certain amount of credit but when you receive it, do not use all of them, use at least 30% and see the wonders in your credit score
Do other telecommunication companies report only inactive accounts as well?
According to research, telecommunication companies only report accounts that are inactive as a result of debt. Hence, they cannot help you build your credit.
