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Thread: Credit question.

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    Veteran Member dishis's Avatar
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    Default Credit question.

    I'm moving to a new area and will have to get all new utilities( gas, electric, phone, and cable). Will this count as four hard inquires and if so how long will they stay on my credit report ?

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    Default Re: Credit question.

    I don't think they do. I reviewed my report a few months ago and it wasn't on the list as being viewed by other companies for a hard inquiry.
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    Veteran Member dishis's Avatar
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    Default Re: Credit question.

    Thanks. I'm renting for a few months before buying and I know the rental company and a storage company have already ran reports on me and I'm afraid I'm going to get too many inquires.

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    Default Re: Credit question.

    They aren't hard inquiries though, right? Does it really matter that much? You have to get utilities after all.

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    Default Re: Credit question.

    inquiries from utility companies / service companies are not weighted the same under the credit rating formula ... or so I have been told.

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    Featured Member Vamp's Avatar
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    Default Re: Credit question.

    Actually there are only two ways to pull a credit report. One as a retailer which is a hard hit or two as a consumer which is a soft hit.

    Utilities do not pull your credit report to approve service. Utilities can not deny you start up service generally. You can always ask them to be sure as well. If you are getting a cell phone they would pull a credit report for that though.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Featured Member Vamp's Avatar
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    Default Re: Credit question.

    Fyi if you are also late on utilities it does not show up on your credit report. Only if the amount goes into default will it show up on your credit report.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Veteran Member dishis's Avatar
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    Default Re: Credit question.

    Quote Originally Posted by Vamp View Post
    Utilities do not pull your credit report to approve service. Utilities can not deny you start up service generally. You can always ask them to be sure as well. If you are getting a cell phone they would pull a credit report for that though.
    This is from the Gas Companies website.

    Is a deposit required for new service?
    For natural gas service connection, the Authority may require a deposit based on the credit worthiness of the applicant. Deposit amounts are initially determined by credit scoring from a national credit agency and are shown below:
    Customer Class Deposit Range
    Residential $0 - $200.00
    Public Buildings $0 - $200.00
    Commercial $0 - $400.00

    No deposit is required if the applicant receives a satisfactory credit score. Deposits are refundable after eighteen (1 months of good credit history. If the Customer has account history with the Authority, then that history will be used to determine the deposit amount.

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    Default Re: Credit question.

    Does anyone know if inquiries by property mangement companies/landlords are considered hard inquiries?

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    God/dess VenusGoddess's Avatar
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    Default Re: Credit question.

    Quote Originally Posted by Vamp View Post
    Actually there are only two ways to pull a credit report. One as a retailer which is a hard hit or two as a consumer which is a soft hit.

    Utilities do not pull your credit report to approve service. Utilities can not deny you start up service generally. You can always ask them to be sure as well. If you are getting a cell phone they would pull a credit report for that though.
    Utilities DO pull your credit, not to approve service, but to decide how much "deposit" you must put down before you can have your service started. At least, that's how it is in IL. They pulled our credit for ComEd, NiCor, Waste Management, and phone, cable, internet.

    If you have a high credit score, you won't have to put down a deposit. If you have a lower score, then they will make you put down a deposit before they will start your service. I'm not sure how they do it for people who cannot pay the deposit...

    From what I've heard...any inquiry into your credit report to verify "creditworthiness" is considered a hard hit. That goes for utilities AND landlords. My info may be outdated, but last I heard, it was considered a hard hit.

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    Featured Member Vamp's Avatar
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    Default Re: Credit question.

    It may be differant from state to state then. In Michigan or Missouri the utilities dont pull the credit reports. I apoligize for the confusion. Thanks Venus and dishis!

    Any retailer who pulls your credit score it is a hard hit. The ONLY time it is a soft hit is if you pull it thru a consumer orginzation.

    So apartments and utilities pulling your credit report would be a hard hit.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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