What is a Linked Account?
When you use AMP Connect Plus to link your utility company account, you authorize eCredable to access your online account with your Utility Company to gather payment information about your account. Because the information is being gathered directly from your Utility Company, AMP Connect Plus account linking allows you to begin building your verified credit information, meaning the downloaded information does not require manual verification to include it in your AMP Credit Report and AMP Credit Score. Eligible Utility Company account types (As of 12/01/2016) include , Mobile Phone, Cable TV, Satellite TV, Internet Services, Landline Phone, Electricity, Water and Gas accounts that you are contractually responsible for payment. (Please note that certain accounts may not meet reporting requirements, or linking requirements, and cannot be linked.)
What are the benefits to Linking my accounts?
Linking your bill payment accounts to your eCredable Profile has several benefits. Linking your eligible accounts:
- Will automatically download as much payment history as is available for download from your Utility Company.
- Payment history downloaded from linked accounts is considered “verified”.
- Provides automatic monthly payment updates to your eCredable credit file to help keep your estimated AMP Credit Score up to date.
- Can automatically give you up to 24 months of verified payment history in your eCredable credit file.
- Can save you time and money when it comes time to apply for an offer in the eCredable Marketplace if you have sufficient months of payment history from your linked accounts.
What type of accounts can be linked?
With AMP Connect Plus, (As of 12/01/2016) Mobile Phone, Cable TV, Satellite TV, Internet Services, Landline Phone, Electricity, Water and Gas accounts for which you are the party contractually responsible for payment may be eligible to be linked to your eCredable Credit Profile. Currently, any other type of account such as insurance, landlord and property management, retail stores and other types of lenders cannot be linked.
Account linking and ongoing automatic monthly reporting of account payment history requires that you have online account access with your Utility Company. You must have an online account setup and opt-in to share your user ID and password with eCredable to create the link between your Utility Company online account and your eCredable Credit Profile. If your Utility Company does not provide online access, or you do not have an online account set up with your Utility Company, eCredable cannot link your account.
Some Utility Companies in the “eligible” category may not meet reporting requirements and cannot be linked, or may be ineligible for linking due to circumstances beyond eCredable’s control. eCredable reserves the right to determine which Utility Company accounts are eligible for inclusion in your credit file that we compile and maintain - certain accounts may not meet data quality, security, or other reporting requirements.
NOTE:eCredable does not guarantee the amount of payment history that can be automatically downloaded from your Utility Company. Number of months of payment history varies by Utility Company. For technical reasons beyond eCredable’s control, the number of months of payment history available for download may not represent all months of payment history viewable by you in your online account on the Utility Company’s website.
What is an Eligible Account?
Eligible account types (As of 12/01/2016) include , Mobile Phone, Cable TV, Satellite TV, Internet Services, Landline Phone, Electricity, Water and Gas, for which you are the party contractually responsible for payment, can be linked to your eCredable Credit Profile if you are an AMP Connect Plus member. Currently, any other type of account such as insurance, landlord and property management, retail stores and other types of lenders and Utility Companies cannot be linked.
What if I have multiple services with one Utility Company (Bundled Account)?
Bundled accounts are treated differently by different companies. If the bundled bill from your Utility Company contains multiple services (e.g. cable/satellite, internet or landline combined on one bill), and each service has a separate account number, we will treat each account number as a separate account in your credit file. If your Utility Company treats all the services as one account, with only one account number used for payment, we will treat the bundled account as a single account in your credit file.
How many accounts can be linked?
You can have a maximum of 8 accounts linked at any one time. Deleting a linked account will release space for a new or different linked account.
What type of accounts cannot be linked?
As of 12/01/2016, eligible Mobile Phone, Cable TV, Satellite TV, Internet Services, Landline Phone, Electricity, Water and Gas accounts can be linked. Any other type of accounts such as insurance, landlord and property management, retail stores, Pre-Paid Mobile Phones and other types of lenders and Service Providers cannot be linked. Some Utility Companies in the “eligible” category will be ineligible for linking due to circumstances beyond eCredable’s control. Some Utility Companies do not provide online access to your account. eCredable reserves the right to determine which Utility Company accounts are eligible for inclusion in your credit file that we compile and maintain - certain accounts, or certain account types, may not meet reporting requirements.
How much does it cost to link my bill payment accounts?
If you have joined eCredable as an AMP Connect Plus member, your annual fee of $19.95 allows you to link up to eight (8) accounts at any one time.
Why does eCredable need my login information?
eCredable will need your account login information so that we can access your account to download your payment history and monthly payment information. Access to your account will be strictly limited to this download activity. eCredable will not access your account for any other purpose, or perform any other activity in your account other than this expressly authorized purpose.
Why does the number of months of payment history available vary by Utility Company?
It is up to each Utility Company to determine what and how much information they make available to their customers in their online accounts. Some Utility Companies may provide as much as 24 months of history. Other companies may provide 6 or 12 months. eCredable has no control over the amount of information the Utility Company has chosen to provide.
Is linking my account to my eCredable Profile safe and secure?
All of your personal information is protected in a secure database using multi-layer security and data encryption. When you link your account to your eCredable profile, you are providing us with read-only access. Read-only Access means eCredable has no ability to change any information on your Utility Company’s website. Your Username, Password, and Account Number are encrypted and protected by multiple layers of security during storage and is always transmitted using 256-bit SSL encryption.
Why do I need to order a verification if my account is linked?
You may need to perform a verification of a linked account if you do not have enough months of account payment history to achieve your target AMP Credit Score. Generally you will need 4 – 6 accounts with 18 – 24 months of on-time payment history in order to have an "A" score. You should use the free AMP Credit Score Estimator tool to determine how you can achieve the best possible score using your current monthly bills prior to placing a verification order, and to avoid placing unnecessary verification orders.
Having less than 24 months of payment history can occur for the following reasons:
- Your account has only been open for less than 24 months; therefore your Utility Company has limited information available.
- You have recently linked your account and your online Utility Company account had less than 18-24 months of payment history available for download.
- Your Utility Company shows 24 months of payments online, but for circumstances beyond eCredable’s control, all of the months of payment history are not available for download from your Utility Company’s system.
To learn more about verifications please visit: http://www.ecredable.com/resources/faqs/verifications