Improve Credit Report Through Payment Reporting

Having poor credit doesn’t just affect your ability to get loans. Nowadays more and more employers are looking at your credit report. If you find that your bad credit is having a negative affect on your life as a whole there is a way to help improve your credit report. If you pay your bills on time then you can now report it to the . The PRBC is a newer national consumer reporting agency and credit bureau. They report all your bill payment information.

The PRBC gives you a new way to prove that you can be credit worthy that is different then traditional credit reporting agencies. They take the information that is not usually reported on your credit report and produce a credit report based on bills that you pay. These can include but are not limited to your rent and utility payments. This is useful if you pay your bills on time because it can show potential lenders and employers that you do pay your bills responsibility. The bonus is that the PRBC will not show this report without your permission.

There are many bills that you pay on a regular basis that can be included in your PRBC report. Depending on the bills you have you may be able to report your rent, utilities, cable, insurance, phone, loans, cell phone, child support, daycare payments, and even loans from friends and family.

The way that the PRBC works is you sign up and once enrolled you are able to report all of your bill payments. You are allowed to view your report any time for free. After you have established your bill payments you can use it to prove your credibility. When applying for a loan simply request that the lender pull your PRBC report. The lender is responsible for a fee charged for pulling the report and not all lenders will agree to do so.

You will need to have six months of reporting your bill payment before you will become verified. After this period there will be charged a fee depending on what type of information you want verified on your PRBC report. For example it may cost you ten dollars to report your daycare payments and twenty to report your utilities. There are package deals available that include your utilities, phone, and cable.

There are many uses for a PRBC report. They can be viewed by lenders, employers, banks, and many other companies. This is useful when you are applying for credit, employment, insurance, and mortgage loans.

If you are having a difficult time applying for loans or gaining employment due to your credit report, using a PRBC report may benefit you. PRBC allows you to report your bill payments in order to show your credibility in a new way. Although PRBC is not accepted by all companies it is a good option for those who have poor credit reports and scores.