GetDebit reports that several prepaid debit card issuers and processors have committed to a new feature that will take recurring monthly payments made on their billpay platform, and report them to the three major bureaus, Equifax, TransUnion and Experian.
The recurring monthly payments (anything with a regular monthly billing cycle, such as rent, car insurance, cell phone bill, utility payments, etc.) are reported as trade lines on each of the three bureaus.
Learn more: It’s Coming: a True Credit Builder for Prepaid Debit Cards
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