Alternative credit is a solution for those with challenged credit who need a little help boosting their credit score. Through the report of monthly payments made to creditors, Vivix Credit Solutions can help you add years to your credit history and positive payment profile. Alternative credit can come from a phone, cable, or electric bill, as well as rent or other monthly debt payments you make. Other examples might be a long-term storage rental, a personal loan to a family member, or even an account with a medical establishment that allows you to make payments. If you are interested in adding these additional accounts to your credit report, Vivix Credit Solutions can help

Vivix Credit Solutions knows that the length of your credit history greatly affects your ability to acquire new accounts. Those with long credit histories are a safer bet for banks as they are experienced debtors. In addition, interest rates and other loan terms can be based on the total number of years you have had open credit accounts. Alternative credit is a great way to add years of history to your credit report, as you have likely been paying rent and utilities long before they have their first credit card or store account.

Your total Debt-to-credit ratio is another factor that comes into play when a potential creditor takes a look at your credit report. In fact, it’s such an important factor that Vivix Credit Solutions advises you attempt to improve this ratio before you consider applying for financing of any type. Alternative credit reporting can positively affect this ratio if the account holder reports that you have a high debt limit but a low average balance. The goal is to use as little of your available credit as possible each month.

You might think a larger number of open accounts would negatively impact your credit score, but it is quite the opposite. Vivix Credit Solutions reports that having no credit is often much worse than less-than-perfect credit. This is because creditors want to know you are someone they can take a risk on, and if others have done it, they are more likely to do so. Getting alternative credit data onto your report will add to the number of open accounts and can establish credit for you before you apply for your first charge card.

When the experts at Vivix Credit Solutions talk about having good credit, it basically means to pay your bills on time each month. Alternative credit reporting can help you here because unless you live without electricity and phone each month – these items are being paid on a regular basis. Many people are late on credit card payments because they take care of their rent first, and in this scenario, alternative credit would help back up this claim of a positive payment history. Contact the experts at Vivix Credit Solutions for help getting these accounts listed on your report in order to open new doors for you