Build Your Credit History With Recurring Payments
Turn Your Bills Into Credit Power
Now you have the opportunity to build your credit historyFootnote 1 by reporting recurring payments you’re already making, like rent, utilities and phone bills. It’s that simple.
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Here's How It Works
The revolutionary reporting tool powered by Bloom+ connects directly to your Navy Federal checking accounts and allows you to easily report up to 5 recurring payments to a major credit bureau.Footnote 2
Getting started is easy!
- Enroll using the button below
- Link your Navy Federal accounts
- Select the eligible payments you want to report
- Watch your credit history bloom
Credit Building on Your Terms
Take Better Control of Your Credit
Recurring payments for things like rent, utilities and phone bills aren’t typically reported to the major credit bureaus. Now you can help them count toward your progress.
Report Only the Payments You Want
Take full control of which transactions get submitted by choosing the payments you want to report.
Build Credit Even If You’re Starting FreshFootnote 1
Don’t have any credit yet? No problem! You can take full advantage of credit building by reporting transactions like rent, utilities and phone bills made from your checking account.
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FAQs
Which recurring bills are eligible for credit bureau reporting?
The credit-building tool supports the reporting of bills for expenses like rent, utilities (water, electricity, gas) and telecommunications services (internet, cable TV and cellular phone bills). You can report up to 5 payment types to eligible credit bureaus:
- 1 rent bill
- 1 telecommunications bill
- Up to 3 utility bills
Which credit bureaus will receive reports of my recurring bill payments?
Eligible recurring bills are reported to TransUnion.
Can I report bills paid with cash, check or peer-to-peer payments?
Recurring bills paid with cash, check, money order or peer-to-peer payment services (e.g., Zelle®, Venmo) aren't supported. The reporting tool powered by Bloom+ only accepts bills paid through certain online platforms or financial institutions. Recurring rent payments to individuals don’t qualify. Rent payments must be made to a verified property management company or through a supported online payment platform.
Why isn’t my recent recurring bill activity showing on my credit report?
There may be a delay between when a recurring bill is paid and when it's reported to the credit bureau. This can be due to processing times, the reporting cycle and verification steps.
What if I miss a payment on a recurring bill that the credit-building tool is reporting?
The tool doesn’t report missed or late payments. If no payments are identified for 3 consecutive months, the bill will be reported to the credit bureau as closed due to inactivity. This will only affect the credit reporting services provided by Bloom+ and won't impact your bank or service provider (e.g., AT&T) accounts. In the future, if you begin to make payments again on the account, the recurring bill may need to be reactivated. Closed recurring bills may impact your credit score. The impact to your score will vary based on your overall credit profile.
Why do I see Bloom+ listed with the financial institution that I use on my credit report?
Since Bloom+ is the technology provider that reports your recurring payments to the credit bureau, you may see Bloom+ listed alongside your financial institution or service provider on your credit report.
How do I stop a specific recurring bill from being reported to the credit bureaus?
Log in to your Bloom+ account, select “View” for the bill you want to deactivate, and then select “Stop Reporting.” Bloom+ will report the bill as closed and won't report any future payments for the bill.
Disclosures
Using Bloom+ does not guarantee any specific results, including any improvement to your credit score. The Bloom+ service is intended to help enrich the data set that is used to calculate your credit score by using alternative repayment history that is commonly not used in various credit score models. There are many factors that are generally used in credit score models, and, therefore, Bloom+ cannot predict with certainty how its service will change your credit score, nor can Bloom+ control which credit scoring models will take the furnished repayment data through Bloom+ into consideration.
↵Bloom+ reports eligible recurring bills to TransUnion. See FAQs for additional information about eligible recurring bills.
↵Zelle® and the Zelle®-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.