Building up your credit?

[Mr Bob]

Anyone know if your credit can be built up if you have a cell phone plan in your name, but pay it using a credit card that someone else owns?

 

[akubi]

hell no lol

 

[thirdlegstump]

Does nothing for your credit. Bonus points for the credit card payer though.

 

[bennylong]

as the other poster said, HELL NO FOOL

 

[Mr Bob]

I was always told that having a cell phone plan in your name will build up the credit. But I guess it is just having the CC under your SS will.

 

[Yzzim]

If you absolutely needed a loan you could get a written letter from your cell phone provider stating that the phone was in your name and it was always paid on time. My wife just about had to do that in order for us to get a house, but it turned out my credit was good enough for the both of us (she didn't have any credit).

 

[jadinolf]

Don't listen to these guys. All you need is a cellphone and your credit will be perfect.

 

[Mr Bob]

I'm asking for someone else, a loan isn't the reason for the question.

"Don't listen to these guys. All you need is a cellphone and your credit will be perfect."
- A cell phone in that person's name? So it does affect credit?

 

[bennylong]

he's being sarcastic...what part of HELLO NO FOOL do you not understand?

 

[Mr Bob]

Originally posted by: bennylong
he's being sarcastic...what part of HELLO NO FOOL do you not understand?

- When someone else comes along and says something different.

Don't act like a jackass, I asked a simple question.

 

[Injury]

As long as you have a contract phone, there will be a mark on your credit.

Something like a cell phone won't raise your score to astronomical proportions... probably not much at all, really... but having one more good credit mark is better than nothing.

 

[Mr Bob]

"As long as you have a contract phone, there will be a mark on your credit. "
- That contradicts what is said above.

 

[Zalez]

Any time that I have checked my credit report, there is nothing on there about my cellphone contract. The answer is no, it will not help you. The only things that help is Loans and revolving credit (credit card) and paying them on time. But there are a bunch of things that can hurt your credit and lower your credit score like late payments, too many new credit accounts, maxing out your revolving credit limit and closing credit accounts.

 

[QED]

I've seen hundreds of credit reports, and based on my experience very few cell phone carriers report payments to the credit bureaus on a regular basis.

The most any of them will do is report you if you are more than 30 days past due.

So, to answer the OPs question, it's almost certainly a no. You need to get your own card in your own name and build up a credit history that way.

 

[silverspear]

i checked with t-mobile a while back and they do NOT report to Credit agencies. So - having a cell phone contract in your name does not help your credit.