Requesting Account Inclusions for a Better Credit History | Credit 101 Ep. 169

Improving your credit history often involves adding positive accounts to your credit report. Here’s how you can request account inclusions and use them to build a stronger credit profile:

1. Understanding Account Inclusions

• Authorized User Accounts: Being added as an authorized user on someone else’s credit card account can help you benefit from their positive payment history.
• Rent Payments: Some services allow you to report your rent payments to the credit bureaus, which can help build your credit history if you consistently pay on time.
• Utility and Cell Phone Bills: Certain credit bureaus and services can include your utility and cell phone payments in your credit history.

2. Requesting Authorized User Status

• Identify a Responsible Person: Ask a family member or friend with a good credit history if they are willing to add you as an authorized user on their credit card account.
• Contact the Credit Card Issuer: Once they agree, they will need to contact their credit card issuer to add you as an authorized user. This will typically require providing your personal information.

3. Reporting Rent Payments

• Check with Your Landlord: Verify if your landlord or property management company reports rent payments to the credit bureaus. If not, you can use third-party services that offer this service.
• Use Rent Reporting Services: Services like RentTrack or RentReporters can help you report your rent payments to the credit bureaus. Sign up for their services and follow their process to include your rent payments in your credit history.

4. Reporting Utility and Cell Phone Payments

• Contact Your Utility Providers: Some utility providers offer reporting services directly. Contact your utility and cell phone providers to see if they can report your payment history to the credit bureaus.
• Use Reporting Services: Third-party services like Experian Boost allow you to include utility and cell phone payments in your credit report. Sign up for these services and link your accounts to start reporting payments.

5. Verify Inclusion and Monitor Your Credit

• Check Your Credit Report: After requesting account inclusions, regularly check your credit reports to ensure the new accounts are being reported correctly. You can obtain free reports from each bureau at AnnualCreditReport.com.
• Monitor Your Credit Score: Use credit monitoring tools to track changes in your credit score as a result of the new account inclusions. This will help you gauge the impact on your credit profile.

6. Addressing Issues and Discrepancies

• Follow Up: If you don’t see the account inclusions on your credit report within a few billing cycles, follow up with the relevant credit bureaus or reporting services to ensure the accounts are properly added.
• Dispute Errors: If there are inaccuracies or issues with the reported accounts, file disputes with the credit bureaus to correct the information.

7. Benefits of Account Inclusions

• Build Credit History: Adding positive accounts to your credit report can help build your credit history and improve your credit score.
• Demonstrate Financial Responsibility: Regular, timely payments on included accounts show creditworthiness to future lenders and creditors.

Conclusion

Requesting account inclusions can be a strategic way to enhance your credit history and improve your credit score. By adding authorized user accounts, reporting rent, utility, and cell phone payments, and actively monitoring your credit, you can build a stronger financial profile. Always ensure that the information reported is accurate and reflects your responsible financial behavior.