Bloom+

Build your credit with recurring payments

Building credit doesn’t have to begin with a loan or credit card. You can now build your credit history1 by reporting the recurring payments you already make, such as rent, utilities, and phone bills. It’s that easy! 

We have partnered with Bloom+, a powerful financial reporting tool that allows you to connect your Pasadena FCU checking account and report up to five recurring bill payments to a major credit bureau.

And the good news is, getting started is easy!

  1. Enroll using the button below.
  2. Link your PFCU accounts
  3. Select the eligible payments you want to report
  4. Watch your credit score bloom and grow
Members can also access Bloom+ in Online Banking and our Mobile App by going to More Services > Loan Services > Bloom+.
 
Taking better control of your credit starts today! Want to learn more before you enroll? Stop in at a branch, chat with us via our website, or give us a call at (800) 445-7328 to speak to a representative.  
 
 
Bloom+ does not remove negative information from your credit report and does not guarantee any particular result. 
 

A Better Way to Build Credit

Take Charge of Your Credit Journey
Payments for things like rent, utilities, and phone bills usually don’t show up on your credit report. Now you can choose to have them counted toward your credit progress.


Choose What You Want to Report
You decide which recurring payments get submitted, giving you complete control over how you build your credit history.

Build Credit Even if You’re Just Getting Started
No credit yet? You can still begin building a strong foundation by reporting everyday transactions2 such as rent, utility payments, and phone bills made through your checking account.

Enroll Now

 

1Using Bloom+ does not guarantee specific outcomes, including improvements to your credit score. The service is designed to enhance the information used in credit scoring by adding alternative repayment history that is not typically included in many scoring models. Because credit scores are influenced by multiple factors and each scoring model weighs information differently, Bloom+ cannot predict how its reporting will affect your score or whether a particular model will consider the data it provides. 

2Bloom+ reports eligible recurring bills to TransUnion. See FAQs for additional information about eligible recurring bills

 

Which recurring bills are eligible for credit bureau reporting?

The credit-building 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 the credit-building tool 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.