| Q1: |
What is credit reporting? |
| A1: |
Companies that want to check credit ratings for individuals can contact three major credit reporting agencies: TransUnion, Experian and Equifax. These agencies have access to payment records from credit grantors such as credit card companies and mortgage and auto loan lenders.
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| Q2: |
Why does Nicor credit report? |
| A2: |
Late-paying customers affect all of our customers due to the costs associated with generating second, third and fourth bills, extra postage and other administrative costs. To keep our costs as low as possible, we expect customers to pay on time. We can help do this with credit reporting of past due amounts over $100.
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| Q3: |
How can credit reporting help me? |
| A3: |
It's important to have a good credit rating when applying for credit cards, home or auto loans, or personal lines of credit.
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| Q4: |
What does a credit report look like? |
| A4: |
A credit report generally has four sections:
- a list of your outstanding balances, including mortgages; and late or delinquent accounts
- a report stating credit limits, payments and balances, and your payment history for at least the last year
- a summary of who has requested and received your credit report and the date they did so
- a list of names, addresses and previous employers associated with your credit history, plus anyone attempting to use your name to gain credit
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| Q5: |
If I have questions about my credit report, what should I do? |
| A5: |
Any information on your credit record can be investigated through the credit bureau. You can call one of the three to check your record at their toll-free number:
- TransUnion: 1 800 916-8800
- Experian: 1 888 397-3742
- Equifax: 1 800 685-1111
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| Q6: |
Who will you share this information with? |
| A6: |
Nicor Gas shares credit information with a major credit bureau. This bureau then provides credit history information to companies or individuals inquiring about your credit history when they are approving credit card or other loan applications.
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| Q7: |
If I am falling behind on my bills, what can I do to avoid being negatively reported to a credit bureau? |
| A7: |
If you have fallen behind on your natural gas bills and want to avoid adverse payment history being reported to a credit bureau, call 1 888 Nicor4u today. We can help you with special payment arrangements for your past due balance and enroll you in the Budget Plan moving forward.
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