On-time rental payments now help boost credit scores
In the past, only negative rental payment data such as evictions and collections were reported to consumer reporting agencies. Therefore, your on-time rental payments never helped boost your credit scores, unlike credit card, mortgage or car payments that help raise credit scores when paid on time.
But this has changed now that Experian® will be including positive rental data in consumer credit reports. The addition of this data is a tremendous benefit to anyone who rents, especially those who are non-credit-active, cash-based consumers.
Key Benefits to Consumers
- Establish or rebuild your credit — You can now make your continuous on-time rental payments count towards establishing or rebuilding your credit
- Qualify for what you deserve — If you were previously unable to qualify for a lease or credit product due to a thin credit file you will now be able to demonstrate past rental payment history and qualify for what you deserve
How It Works
Experian RentBureau receives updated rental payment data every 24 hours from its national network of property management companies. In order for this data to be included in your credit file, your property management company must contribute its rental history data to Experian RentBureau.
Experian recognizes the value of having a good rental payment history. Please contact your property management company and ask them to contribute their data to Experian RentBureau.
