Starting on Wednesday May 8, 2013 Equifax began reporting telecommunication (Telco’s) companies’ trade lines on your credit bureau reports (Bell, Rogers, Telus etc.). While all Equifax account holders nationwide will have these trades reported on their bureaus by August 1st, some lenders are having these reported to them now.
While the Telco’s will be appearing on your bureaus,… they do not affect your credit score. What is important is delinquency on these accounts. We’ve been apprised that some lenders are already receiving these trades from Equifax, which can influence their credit decisions.
This is important information for everyone, however, even more critical to anyone in the process of re-establishing their credit. Lenders will certainly be looking at this information to determine future credit worthiness.