We aren’t a lender in the traditional sense. We pay your bills and then collect that money back from you to cover those bills. Other companies act as a third party by simply reporting a generalized summary of your payment history. Because StellarFi is paying the bill on your behalf and collects the funds from your account, we are able to directly impact your credit score as a payor on your credit report. As a result, we report your positive history and build your credit in a reliable way.
StellarFi will create a new credit account on your credit report. While StellarFi is NOT a credit card or a loan, your on-time bill payments will build your payment history and the credit account will improve your credit utilization ratio (also called your credit-to-debt ratio). We report to all four major credit bureaus (TransUnion®, Experian®, Equifax®, and Innovis®) and will use on-time StellarFi payments as factors contributing to official credit scores.
Articles in this section
- How does it work?
- What is the best way to contact your company?
- Will StellarFi process a hard inquiry?
- Are certain billers or merchants blocked?
- Are you a lender or a credit card?
- How will this help impact my credit score?
- How do I report an issue or ask a question?
- How does the referral program work?
- What is a good credit score?
- How do I improve my credit score?
