I am trying to rebuild my credit. After paying off all of my collection accounts, installment loans and charged off cards, my score is in the dumps. I'm only 25... :(
I am moving and would like to sign up for Direct Tv or Dish Network. Direct Tv told me that when they ran my credit check, I would have to provide an upfront deposit of $200 to secure service, and that deposit would be paid back to me in $5.00 amounts each month. Seems dumb to me, but I realize they do it to protect themselves. (I also asked if I cancelled my service after my two year agreement and still had $80 left on the deposit if I could get that back- they told me NO.)
Anyway, does Direct TV report to the credit bureau each month? I can't get approved for any loans/credit cards because my score is around 450, so I was hoping that Direct TV would report my on time payments every month. I read somewhere that you can request any utility company to report to the credit bureaus.
Also, I currently am on my parents cell phone plan but will be going on my own when I move. Verizon told me that I would have to put down $150 as a deposit and that I would get it credited back to my bill after 12 months of on-time payments. Sprint said the same thing- although their deposit was $125. Do Verizon and Sprint report your monthly payments to the credit bureaus as well?
Since I can't seek any new credit to make payments on to rebuild my poor payment history, I want something that shows I pay on time each month. The loan officer at my little hometown bank said that the installment loan places such as Security Finance and American General hurt your credit rather than help it. So I'm staying as far away from them as possible.
Any other suggestions to rebuild my credit?
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