Does Verizon report to credit bureaus? Are you looking to transfer to or from Verizon and you’re afraid that your credit score would affect your experience?
Just like you, many people are constantly in the bubble wondering whether or not Verizon wireless reports to credit bureaus.
If you’re wondering if Verizon reports to credit bureaus, the answer is yes, they do. In fact, they don’t just report to a single agency.
Yes, Verizon does report to credit bureaus. However, their reports pertain only to those who have negative engagement with the company.
Unfortunately, if you are a good payer, they wouldn’t let credit bureaus know about this. They would only send your file to them either if you’re a bad payer or if you’ve completely abandoned the bills, you’re responsible to pay for.
How about Verizon Wireless? Does Verizon Wireless report to credit bureaus, too? Verizon Wireless is under Verizon, which makes them a single company. Yes, they also report to credit bureaus the same way Verizon does.
So, which credit bureau does Verizon use for their business? Do they use a single credit bureau, or do they utilize the services of all three?
Verizon does not report credit scores to a single credit agency. They utilize the top credit bureaus in the country, TransUnion, Equifax, and Experian, based on the most recent updates.
Similar to any other provider, they do this to contribute to the industry and to notify other providers of the payment habits of delayed or non-payers.
If you have delinquencies with them, it’s better to have them settled first before you trying to shop around.
Whether you’re currently a Verizon subscriber or if you plan on transferring your services from another company to Verizon, your credit score matters.
The problem here is that no matter what industry you want to get into, it will affect the overall reliability of your credit score.
As far as everyone is concerned, it’s not possible. Nobody, not even the highest government official is exempted from paying bills. Therefore, you can’t work your way around this situation.
Part of their job is to report any late or missing payments so that they can be assisted by third-party agencies to remind you or collect it themselves.
The only real way to bounce back from this situation is to improve and develop your credit score.
There isn’t actually a single way to make your credit score better. As a matter of fact, it’s a lethal combination of habits, discipline, and time for you to get your green credit score back to its rightful place.
So, before you decide to transfer to Verizon from your current provider or vice versa, it is just right to improve your credit.
Here are the top things you can do to ameliorate your current credit score.
As unbelievable as it may seem, not all credit reports are 100% correct. In fact, there are some that are already outdated.
So, the first thing you want to do is to double-check your credit reports and see if there are erroneous or outdated details and information there.
Credit bureaus manage the credit of millions of people, they won’t get them all right.
But, even if this is the case, it’s still not a reason for you to stop with your monthly payments. In fact, the next step in fixing up your credit score is…
You need to start something out of nothing, and the initial step would require you to pay off your current monthly recurring charges on time.
Whether it’s your Verizon phone bill, your electricity, internet, or any other monthly payment, pay them on time and try to make it a habit.
And last, but definitely not least is to slowly pay out your delinquencies with your current provider. Paying them out requires time and patience, yes, and in fact, you don’t have to pay them all at once!
Should the delinquent bills be too big for you, just pay them consistently? You will be surprised that in about six months, you’ve cleared them all off.
How long can I expect my credit score to be improved? Is there a specific timeline followed by these companies and agencies?
This is a question you will be asking if you’re trying to move from one service provider to another. And to tell you, there’s no specific timeframe of when it will be fixed.
The time in which you will get your credit back to a good score has quite a few factors:
- The amount of the bills that have stacked up
- If they are critical bills
- The time or how long they have been dormant
To give you an example, if you’ve missed almost ten payments in the past year, but this year, it was lessened to four, it’s already a significant improvement.
On the contrary, if your credit report has a bill that has been overdue for more than a year, it might take you longer than three months to get it all fixed.
Follow the 3-step process by heart and expect your credit scores to skyrocket next year!
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So, if you’re one of the people asking: does Verizon report to Credit bureaus, they do, but that doesn’t mean that you will be banned from getting services forever.
As a matter of fact, they really only report the worst situations to credit bureaus. Nevertheless, it’s still your responsibility to be in front of all your monthly recurring payments to avoid getting this specific problem again in the future.
Finn Wheatley holds a Master’s Degree in Computer Science from UCL, London. He helped small data science consultancy firms, helping large corporations to grow their data capabilities, deploy advanced machine learning-based analytics and troubleshoot tech-related issues. Check out more about him here.