Like credit cards, many utility services require your Social Security number to establish an account. Even entertainment providers, like cable and internet companies, ask for your Social Security number. 

Companies look into your credit to determine if you are a reliable payee. If you have no or poor credit history, you may have to put down a deposit to receive services. They may deny an account if you do not provide a Social Security number to identify yourself.

Using Your Bills to Build Credit From Scratch

If you fail to make payments to the utility companies, it can damage your credit before you even have a change to make it grow. Fortunately, you can also build credit from scratch by making on-time payments to these providers: 

·      Electricity

·      Gas

·      Oil

·      Water

·      Phone

·      Internet

·      Cable television 

Some landlords also report rental history, so you can build your credit just by paying your rent on time. You can find if your prior landlords made reports by using the Credit Karma rental history feature.

You can ask your current landlord if they use rent-reporting services. You will not be able to report your rental history to the credit bureaus. Your landlord must do this. 

Some rent-reporting services include the following:

  • PayYourRent
  • ClearNow
  • Payment Report
  • Rent Reporters
  • Rental Kharma
  • LevelCredit
  • Rock the Score
  • Esusu Rent
  • CreditMyRent

Your score can increase about 15 percent for making consistent rental payments for six month. However, your landlord must report rental history information for it to take effect. If your utility provider or landlord does not issue reports to the credit bureaus, there may be another way for you to boost your score. 

By Admin