TekSavvy and credit reporting
Now that I moved all of my communications / utilities over to TSI, I'm curious if TSI reports to the credit bureaus like Bell/Videotron/Rogers do.
I think TSI should be reporting to the credit bureaus if not already. For those of us moving from the big telecoms to TSI, showing that you can pay your utility bills on time is a big thing.
|reply to Drecca |
Utility accounts do not affect your credit score unless they go into collections. They are not included in the FICO (or modified FICO) formula that Canadian credit bureaus use to calculate your credit score and, if I am not mistaken, they don't appear on the version of your credit report seen by potential lenders (again, unless they are in collections). So having them on your credit report really provides no benefit to you. If you want to build a credit history, get a credit card and use it responsibly.