Prepaid meter or billing for credit rating?

dslinger9

Hi all, I am doing everything I can to improve my credit rating (aren't we all).
Currently I am paying for my energy bills on a prepayment meter, but wanted to know if paying by DD monthly or Quarterly would be beneficial to my credit report or not make a difference at all.
I have looked everywhere for this information, but cannot find any answers.

TIA

[Deleted User]

As long as you're keeping up with payments, it doesn't matter.

shortcrust

I've never had utility bills on my report until very recently but have been able to get pretty much every credit product I've gone for. So it would seem that zx81 is right.:)

GingerBob_3

Build up a credit history using actual providers of credit - banks and credit card companies. Don't depend on utility companies and mobile phone providers. They are well known for malicious reporting to the CRAs and causing untold misery for some of their hapless customers. NPower and British Gas are the worst offenders. Your objective should be NOT to have utility/phone reporting, thereby reducing the chances of something going wrong. EDF and Sky don't report, so they should be your favoured providers.

Anthorn

dslinger9 wrote: »

Hi all, I am doing everything I can to improve my credit rating (aren't we all).
Currently I am paying for my energy bills on a prepayment meter, but wanted to know if paying by DD monthly or Quarterly would be beneficial to my credit report or not make a difference at all.
I have looked everywhere for this information, but cannot find any answers.

TIA

Pay As You Go / Prepayment energy is not reported to the CRAs because there is no credit involved. However my energy accounts are not reported anyway. So even if energy companies allow direct debit pre-payments you are unlikely to benefit from it in your credit history.

Incidentally you may be better off with Utilita Energy which will install a smart prepayment meter if accepted for an account which are said to be more accurate.

Fireflyaway

I have had both and neither showed on my file. I think some utilities do report ( if you get in debt) but I don't know which ones.

Anthorn

Fireflyaway wrote: »

I have had both and neither showed on my file. I think some utilities do report ( if you get in debt) but I don't know which ones.

In my own personal experience Isupplyenergy, OVO and Ebico don't report while British Gas do but only to Experian.

GingerBob_3

Fireflyaway wrote: »

I have had both and neither showed on my file. I think some utilities do report ( if you get in debt) but I don't know which ones.

EDF don't (I'm with them). I think SSE may only report defaults, but this would need confirming. Even the latter could be a danger if they get it wrong.