Companies that want to check credit ratings for individuals can contact three credit-reporting agencies: Experian, Equifax and Innovis. These agencies have access to payment records from credit grantors, such as credit card companies, and mortgage and auto loan lenders. They use the payment information to produce a credit report.
DTE Energy's credit reporting program includes full-file reporting for all residential customers. This means the payment histories of all residential customers - those who pay on time and those who do not pay on time - are reported to the three major credit-reporting agencies: Experian, Equifax and Innovis. The credit-reporting agency then provides payment history information to companies or individuals inquiring about your credit history in the form of a credit report.
It's important to have a good credit rating when applying for credit cards, home or auto loans, or personal lines of credit. Before approving a loan, creditors check an individual's credit history. Full-file credit reporting provides an opportunity for customers who pay on time, but may lack a credit history, to establish credit-worthiness and build a good credit rating by simply making their monthly DTE Energy bill payments.
Payment histories for customers that pay late or cannot pay the total bill amount are reported to credit agencies when the account is 30 days overdue. This allows you time to 1) pay the total amount of the bill, 2) contact us to enter into a payment agreement, or 3) find out about eligibility for payment assistance programs. Customers who enter into a payment agreement, and make the agreed payment amounts on time, are considered current and are not reported to credit reporting agencies. Information on both payment agreement and payment assistance programs can be found under the main navigation Billing/Payment tab, in the left navigation topic Payment Programs.
Any information on your credit report can be investigated through the credit-reporting agencies. You can obtain a free copy of your credit report once every 12 months by contacting the agencies at their toll-free number or visiting their Web sites:
To learn more about credit reporting, visit the Consumer Data Industry Association Web site. The site contains information about how to get your credit report, laws and regulations, and frequently asked questions about credit reporting.