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What happens to your credit score

when you pay your bills on time but none of your creditors report it to the credit unions? Also you don't work but your husband does, and your last work history didn't report to the credit unions?

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sweetangie79

Asked by sweetangie79 at 1:35 AM on Apr. 6, 2011 in Money & Work

Level 18 (5,741 Credits)
Answers (5)
  • Im not sure exactly what the question is...Im not familiar with credit unions but I don't think they are the ones that need to be reported to. It's the credit agencies like experian, transunion, etc...if you're making payments on time then you don't need to worry..collection agencies will report to the creditors and that will damage your score. not working won't hurt your score either. Why don't you go to freecreditreport.com and get a copy of your report?? everyone is entitled to one copy a year. if there is a discrepancy then you can take care of it.
    calliesmommie

    Answer by calliesmommie at 1:38 AM on Apr. 6, 2011

  • Not much. It's probably not very high, though, because you don't have much on there. You and DH need to apply for a SMALL credit card through a local credit union (FAR fewer fees than other cards, and the interest rates aren't astronomical). Pay it off as soon as you use it. It will help you both build your credit. That's what we're doing, too. We pay cash for everything, so we have no credit. We got a credit card through our credit union a year or so ago simply to build our credit. We chose to do a secured credit card to start. We can switch it to unsecured by now. We still need to do that! =)
    musicpisces

    Answer by musicpisces at 1:38 AM on Apr. 6, 2011

  • Actually it does nothing to your credit if they don't report it!! I've always heard it takes bad credit to get good credit!!

    And the credit card ACTUALLY paying it off too soon does bot look good on your credit report. You have to.make the payments on time for how ever long you have them. We srewed ourselves by payin our credit card off too soon. I don't think cresit cards are worth it!! They put u in a hole. Take a small loan out and make payments on time. That will start you off at a good start (:
    EheartsZ07

    Answer by EheartsZ07 at 1:45 AM on Apr. 6, 2011

  • nothing....
    SAMNMAYASMOM

    Answer by SAMNMAYASMOM at 2:01 AM on Apr. 6, 2011

  • Lack of credit is better than bad credit, so don't worry about it. Don't get into the ugly cycle of borrowing money just to build up a credit score. All your credit score is used for is to determine how much debt you are able to accumulate. Once you get on that roller coaster you are increasing your risk for really messing up and getting into a situation you may not be able to get out of. If the only reason you are worried about your credit score is so that you can buy a house, find a bank that is willing to do the underwriting. They will look at your income, work history and the fact that you pay your bills on time (the fact that nothing is reported means nothing is late).
    slw123

    Answer by slw123 at 9:44 AM on Apr. 6, 2011

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