Bloom+
Now you have the opportunity to build your credit history* by reporting recurring payments you are already making.
Turn your bills into credit power! It’s simple:
Enroll using the button below
Link your Strata Credit Union account
Select the eligible payments you want to report (like utilities, rent and phone bills)
Watch your credit history bloom
How it Works
Turn Your Bills Into Credit Power
Now you have the opportunity to build your credit history* by reporting recurring bills you’re already paying, like rent, utilities and phone bills. It’s that simple and doesn't require having debt or getting a new loan!
The Bloom+ reporting tool connects directly to your Strata Credit Union checking account and lets you easily report up to 5 recurring bills—such as rent, utilities, and phone service—to a major credit bureau**. These types of payments usually aren’t reported, but now you can choose which eligible bills you want to count toward building your credit history. Even if you don’t have credit yet, you can start establishing it simply by reporting the payments you’re already making.
Enroll in Bloom+
Link your Strata Credit Union account
Select the eligible payments you want to report (like utilities, rent and phone bills)
Watch your credit history bloom
FAQs
Which recurring bills are eligible for credit bureau reporting?
The Bloom+ 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 Bloom+ 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.
Who is eligible to enroll in Bloom+?
Anyone who is 18 years or older with a checking or savings account at Strata Credit Union is eligible to enroll in Bloom+.
Can I use Bloom+ if I have a limited or no credit history?
Yes. Bloom+ is designed to help individuals with thin or no credit files establish and build a positive credit history by reporting qualifying recurring payments.
How can Bloom+ help me?
With Bloom+, you can expect certain recurring bills, such as rent, utilities, and telecommunications to be included in your credit history. Once furnished to the credit bureau, this additional data may be included in certain credit score calculations that show a more holistic view of your responsible consumer behavior beyond traditional credit accounts. (Important Note: Bloom+ does not report negative (missed) payments.)
Credit scores are influenced by many factors, including payment history across all reported accounts, the amount of debt carried, and credit history length.
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.Upon enrolling and confirming bill payment activity, credit score trending will take up to 90 days to begin being tracked for newly opened Strata Credit Union accounts. Existing Strata Credit Union accounts with more than 90 days of activity will be able to display credit score trending upon Bloom+ enrollment.
** Bloom+ reports eligible recurring bills to TransUnion. See FAQs for additional information about Bloom+.
*** You are not required to receive financing or financial products through Strata Credit Union in order to receive the benefits of this program.