Will having a water bill in your name help build your credit rating?

pod495

That's it really.

The idea being to help build the score of someone who doesn't have any credit cards or bills in their name or anything much else to get a good rating from.

Hopefully it's a simple and quick question to answer (apologies if it's bordering on being a daft question but I've not really found the answer elsewhere on the web).

I guess it does help but I'm hoping someone can confirm it.

Obviously I know it would rely on not getting into arrears etc.

Thanks,

[Deleted User]

I doubt it would have much of a positive impact, but possibly better than nothing.

corf999

It depends on whether their water company share their information with the credit referencing companies. I suspect the answer is no - as far as I am aware only certain utility companies share with the credit referencing agencies.

GingerBob_3

pod495 wrote: »

That's it really.

The idea being to help build the score of someone who doesn't have any credit cards or bills in their name or anything much else to get a good rating from.

Hopefully it's a simple and quick question to answer (apologies if it's bordering on being a daft question but I've not really found the answer elsewhere on the web).

I guess it does help but I'm hoping someone can confirm it.

Obviously I know it would rely on not getting into arrears etc.

Thanks,

No. Use proper credit to build up a good profile. Not only does it rely on you not getting into arrears, it also relies on the water company not making any mistakes - and they do; big time!


Do what you can to stop the water company reporting you to the CRAs. As a result of crass stupidity on the part of the ICO water companies can BOHICA you a credit check and report your account to the CRAs without your permission.

john1002

Depends on if they report to any CRA, if you let us know the company then we can tell you, I'm not sure water companies do. Don't forget nobody has a credit score, every company uses its own score.

Have you not tried catalogues, mobile phone. Or credit builder cards to get a foot on the credit ladder.

Do some searches on these forums for lots of tips etc on these routes.

John

pod495

Thanks all.
It'd be Yorkshire water.

GingerBob_3

pod495 wrote: »

Thanks all.
It'd be Yorkshire water.

They do report you to the CRAs. I think they were the first water company to be hypnotised by the CRAs (mainly Experian) into doing so. In my book you should make it bloody difficult for them.

pod495

So generally, a sensibly used credit card is a better idea.

GingerBob_3

pod495 wrote: »

So generally, a sensibly used credit card is a better idea.

Yes, definitely. It's probably the best thing to demonstrate financial competence.