The net is closing in on people who pay their utilities bills late, after Yorkshire Water became the first water supplier to share customers’ payment habits with Experian.
Now the company – which splits the credit reference market with Callcredit and Equifax – is seeking agreements with more utility and energy firms on whether customers pay bills on time, although it claims the move could have a positive effect on consumers’ credit scores.
An Experian spokesman said: “Because the vast majority of people pay their water bills on time, most Yorkshire Water customers will see their credit histories strengthened by this development, potentially giving their credit ratings a helpful boost.”
Callcredit already works with a number of utilities companies, such as telecoms and energy suppliers, which share data.
Managing director Graham Lund said: “We believe there is potential for the sharing of account performance data from utilities companies to have a positive effect on a consumers credit file. This could help to provide some people with better access to mainstream, lower-cost credit facilities and services.
“The sharing of data enables lenders to make informed decisions and supports responsible lending; we therefore anticipate and welcome future growth in this area.”
