When checking your credit reports, you might notice that your rent payments aren’t listed anywhere. That’s because landlords aren’t considered creditors. However, there are steps you can take to add your monthly rent payments to your credit reports.
How Do I Get Rent to Show on My Credit Report?
Landlords do not automatically report your on time payments. To get the payments to show, you’ll need to take action.
- Contact your landlord. Ask if they are willing and able to report your rental payment directly. Some credit reporting agencies, such as Experian, make it very easy for them to do so. They do so by going to the Experian site for rent payments. Your lease will appear in the “accounts” section of your report. It will list the date the lease started, your monthly payment, and your payment history.
- Enroll in a third-party service that accesses your information. These companies get the information and report on your rent payments for you. They include services like Pinch or CreditLadder.
- Enroll in a third-party service that collects and disburses your rent payment for you. They then report payments to the credit bureaus. They include such companies as RentTrack, PayYourRent, eRentPayment, and ClearNow.
Does Paying My Rent Help My Score?
Payment history is the single biggest factor in your FICO score. Again, the only way it can help is if it shows up. Once it does, and shows ontime payments, it can definitely help. Many people find their scores go up dramatically by showing rent, especially if they are just starting to establish, or re-establish, a good credit rating.
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