Will paying my bills on time improve my credit score?

+1 vote
asked Jul 2, 2017 in Credit by Elinora (250 points)
If I pay my bills on time and never miss a payment will this improve my credit score?

2 Answers

+1 vote
answered Jul 7, 2017 by Jaybird (12,310 points)
Paying credit card bills,car payments etc on time will help improve your credit score. But bills utility bills such as water bill, electric bill, gas bills won't improve your credit rating.

But if you default on those utility bills it can ruin your credit when they charge off your bills.
0 votes
answered Jul 7, 2017 by yk24 (320 points)
It depends on the type of bill you're paying on. If it's a utility bill then no paying utility bills will not improve credit scores.

But if it's credit card bills and other loans or mortgages then yes paying those bills on time will increase your credit score and credit rating.

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