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If I transferred my Netflix over to my mom, would it help improve her credit score?
I am trying to help my mom improve her credit score, so she could at least get one credit card, so all the amount of stuff she wants isn't ALL on my name. I already gave her a loan on her old clothing store card she had. So what it looks like on paper, she paid all of it at one time, but she still was disapproved when she applied for $200 limit JCPenney card. So if she got Netflix and paid it every month for about 6 months, would improve her credit score a bit?
She can't use a credit card to build credit anymore cuz she cancelled them all & her score is really low for her previous poor spending habits and not paying her stuff on time then, but was hoping she could start over and improve this time.
5 Answers
- 2 years agoFavourite answer
Netflix is not considered credit since they are not extending you a borrowing capability (if you don't pay they shut it off). She will probably have to try to open a secured credit card in her name (she places, say $300 in a savings account and the bank issues a credit card with a $300 limit - if she takes money out of the savings account, her limit decreases to what she has left, if she tries to withdraw is all, they close the card and take the balance out of the savings account.
- Anonymous2 years ago
No. Its not credit. Neither is a phone, a power or gas bill.
Credit is. gasp...credit.
Now, they are working on a new credit score that gives credit for stuff like a power bill but thats years off for practical purposes. Netflix will never count.
- Anonymous2 years ago
No. Netflix is not a creditor. They offer a "pay as you go" service. If you don't pay, you don't get the service. They aren't lending you (or her) money.
- ShayLv 72 years ago
Netflix is a SERVICE not a line of CREDIT.
The payment method used to pay Netflix would be what counts - but that would need to be a CREDIT CARD in HER NAME. Any other payment method, like a debit card or a card in your name does NOTHING for her credit.
She will probably need to apply for a secured credit card with a company like Capitol One to start rebuilding her credit.
- Anonymous2 years ago
No, Netflix isn't considered credit.
