Bloom+ is an innovative service designed to help you enrich your credit history by reporting certain recurring payments, such as rent, utilities (water, electricity, gas), and telecommunications services (internet, cable TV, and cellular phone bills), to the major credit bureaus. By linking your bank account, Bloom+ tracks these payments and adds payment history to your credit profile.
How can Bloom+ help me?
With Bloom+, you can expect certain regular payments to be included in your credit history, which can provide a more complete picture of your financial habits. This additional data may help lenders see your responsible behavior beyond traditional credit accounts. These tradelines are included in credit scores that consider rent, utility, and telecommunications payments. Your credit score is influenced by many factors, including your payment history across all accounts that appear on your credit history, the amount of debt you carry, and the length of your credit history.
What if I miss a payment on an account that Bloom+ is reporting?
If you don’t make a payment, then Bloom+ does not report any payment information for that time period. If no payments are identified for three or more reporting cycles, then the account will be reported as closed due to inactivity. Newly closed accounts may impact your credit score. The impact to your score will vary based on your overall credit profile.
Which credit bureaus will receive my payments reported through Bloom+?
Currently, Bloom+ reports your eligible payments to TransUnion. For more information on which payments may be eligible, please see the Bloom+ Reporting Matrix.
Why do I see Bloom+ listed with the bank that I use on my credit report?
Bloom+ appears on your credit report as a service provided by your bank or financial institution. It reports the qualifying payments you select to the credit bureau. This service is powered by Bloom+ technology and is integrated through your financial institution’s app or portal.
What information does Bloom+ use to report my payments?
Bloom+ collects information such as your payment amounts, payment dates, and the types of bills paid. This data is gathered securely from your linked bank accounts and used to report your payment history to the credit bureau. Bloom+ also requires information including your name, address, and date of birth to report to the credit bureau.
Which payments and bills are eligible for reporting by Bloom+?
Bloom+ supports the reporting of payments for services like rent, utilities (water, electricity, gas), and telecommunications services (internet, cable TV, and cellular phone bills). You can currently report up to 5 payment types: 1 rent payment, 1 telecommunications payment, and up to 3 utility payments. These payments help enrich your credit history. For more information on which payments may be eligible for reporting to the credit bureau(s), please see the Bloom+ Reporting Matrix.
Why isn't my payment eligible for Bloom+ reporting?
Payments may not qualify for Bloom+ if they don’t meet our eligibility criteria, such as being a one-time payment, or not being a recognized bill type. Your payment might not qualify for Bloom+ reporting for several reasons:
The account has insufficient payment history
You haven’t made a payment on the account in over 3 months
The account you’re attempting to report does not belong to you
You are already reporting the account to TransUnion via another service
You are paying by check or services such as Zelle, Venmo, and Cashapp, and Bloom+ cannot otherwise verify the payment
You are paying rent to an individual such as a landlord
You are attempting to report rental payments, but the rental payments are not for your primary residence, and/or you have an active mortgage or other rent tradeline currently reported to the relevant credit bureau
You are attempting to report utilities payments, but the utilities payments are not for your primary residence
You have already reported the maximum number of accounts for a given credit bureau
The payment is not currently eligible for reporting to a given credit bureau due to credit bureau requirements.
Why couldn’t Bloom+ find my bills or rent payments?
There are several reasons why Bloom+ may not be able to find your bills or rent payments:
Bloom+ currently supports rent, utilities (water, electricity, gas), and telecommunications services (internet, cable TV, cellular phone) payments. All other payment types are not accepted.
Bills paid with cash, check, or money order are currently not supported. We only accept payments made through recognized online platforms or financial institutions. Peer-to-peer payment services like Zelle, Venmo, and Cashapp are also currently not accepted.
Rent payments to individuals or via check or apps like Venmo, Zelle, or PayPal do not qualify at this time. Rent payments must be made to a verified property management company or through a supported online payment platform.
How often does Bloom+ report my payment data?
Bloom+ reports your payment data to the credit bureaus at least monthly, assuming you’ve made a payment since the last reporting cycle. This reporting may help enrich your credit history.
Why isn’t my recent payment activity showing on my credit report?
There may be a delay between when a payment is made and when it is reported to the credit bureau. This can be due to processing times, the reporting cycle, and verification steps. If you notice a delay, please check back later. Additionally, your payment may not be currently eligible for credit bureau reporting. For more information, please see the Bloom+ Reporting Matrix.
Is it possible to link multiple bank accounts to Bloom+?
Yes, you can link multiple bank accounts to Bloom+, but each account must be associated with a financial institution that works with Bloom+. This means you can select and link your eligible bank accounts within your banking app or portal. By linking multiple accounts, Bloom+ can track and report payments from all of your linked accounts, helping to enrich your credit history. If you have questions about which bank accounts are eligible, please check with your financial institution.
What if I’m having trouble connecting my bank account to Bloom+?
If you’re having trouble connecting your bank account to Bloom+, your bank login credentials might be incorrect. If issues persist, please check with your financial institution.
How do I correct inaccurate information in my linked account?
If you notice inaccurate information in your linked bank account, try reaching out directly to your bank or financial institution to correct or verify your details. Once updated, unlink the account from Bloom+ and reconnect it. The corrected information should update automatically within a couple of days.
Why does Bloom+ need my personal information?
Bloom+ requires your personal information, such as your name, address, and date of birth, to verify your identity and report to the credit bureau.
What are the steps to add a bank account to Bloom+?
You can add a bank account by either enrolling through your financial institution’s homepage or by going to bloomplus.com and selecting your financial institution.
How can I remove a linked bank account from Bloom+?
To disconnect a bank account from Bloom+, log in to your Bloom+ account at bloomplus.com, navigate to the icon on the top right of the screen, and select “Profile”. From there, you may select the option to “Unlink my Bank Account”.
How do I remove a specific account?
To remove a specific account from being reported, log in to your Bloom+ account at bloomplus.com and select the account type to remove. All transactions that have been reported to the credit bureau will be listed. On the top right of the screen, select “Stop Reporting”. Bloom+ will not report any future payments for the account.
