Many accounts won't be reported until consumers ask

An individual credit score might take a dive for a number of reasons, such as from defaulting on a student loan after a job setback or letting a credit card balance roll over into the next month one too many times. Whatever the reason, these  mistakes can take a long time to fix, leaving a blemish that can be seen by lenders, credit companies and potential employers alike.

However, something that could help boost credit scores often doesn't show up on a history report: steady payment of utility bill accounts. According to Credit.com, many people don't understand why these accounts won't appear - they usually go unreported unless someone has defaulted on such bills.

It is important to note that unless asked, many utilities providers won't report payment history because it can be expensive and time-consuming for their workers, the news source explained.

Lenders might want to encourage some of their borrowers to look into this score, particularly if they do not initially qualify for a loan. Looking into a Payment Reporting Builds Credit score might be more lucrative for individuals who have a steady history of making payments on utilities account but have a dismal or nonexistant traditional credit score.