Utility now appearing on Credit File? 17 November 2021 at 6:52PM in Credit file & ratings 7 replies 244 views

Malkytheheed

So I was with people's energy before they went bust, and then got moved over to British gas. I just just a notification of change to my credit file. I checked them and sure enough I have two new accounts on there, gas and electric. I've never had a gas or electric provider apear on my credit file before. Do you know why this might be? Also shouldn't they have told me they were going to do that? 

[Deleted User]

They'll have told you in the agreements and privacy notices.

It's fairly standard and not a problem as long as you're not planning on defaulting.

emmajones1976

Some report, some dont.

As already said, its irrelevant unless you are planning on not paying 

Ebe_Scrooge

Yep, some utilities report to the CRAs, some don't.  Also, some companies (any company who provides credit, not just utilities) report to all 3 CRAs, some only report to 1 or 2.  So it's also possible that People's Energy were reporting to 1 (that you weren't monitoring), British Gas are reporting to the one you are monitoring (assuming you're not monitoring all 3 yourself).

Anyway, that aside, as long as you're paying your bills on time, it's actually a good thing - every bill paid on time is another green tick on your credit history, which will go in your favour the next time you want to apply for any form of credit.

chankie888

Hi, I am in the same boat as OP though now with Octopus Energy as former supplier went bust. Assuming a excellent credit score already, I guess this does have a negative impact if you are looking for a mortgage within six months of this new account being opened? Credit score will take time to recover? Eg credit karma was reduced by 13 points for me because of this.

[Deleted User]

chankie888 said:

Hi, I am in the same boat as OP though now with Octopus Energy as former supplier went bust. Assuming a excellent credit score already, I guess this does have a negative impact if you are looking for a mortgage within six months of this new account being opened? Credit score will take time to recover? Eg credit karma was reduced by 13 points for me because of this.

Credit score's not important. A utility account will do no harm to your files.

[Deleted User]

chankie888 said:

Hi, I am in the same boat as OP though now with Octopus Energy as former supplier went bust. Assuming a excellent credit score already, I guess this does have a negative impact if you are looking for a mortgage within six months of this new account being opened? Credit score will take time to recover? Eg credit karma was reduced by 13 points for me because of this.

Nobody but you sees the credit score, you can safely ignore it. It's a gimmick intended to encourage you to buy in services like the "improvement". No lender ever judges you for credit based on the horoscope level nonsense of the credit score.

emmajones1976

Its amusing people think that an electric company suddenly appearing on a credit file will have an impact, the banks do appreciate people need lights and heating you know.