Adding Another Positive Credit Line Without A Card or Loan?

[shane82388]

Has anyone seen this service - WilliampPaid or Rental Kharma?

The seem to work like this...

You sign up through them and pay your rent to them, they take a small percentage as an addition fee for them, and then send your rent check to your landlord. They will report this positive payment history to your 3 credit reports as a tradeline...

Seems kind of awesome for those who want another positive tradeline without having to open another card or something???

Any thoughts? I might try this if its legit and will just be another positive trade line without any inquries or new cards/loans.

http://www.williampaid.com

http://rentalkharma.com

[pizzadude]

It won't be included in your score ~ rental tradelines are excluded from FICO scoring.

[shane82388]

---

@pizzadude wrote:
It won't be included in your score ~ rental tradelines are excluded from FICO scoring.

---

So what would the actual benefit of it reporting actually be? hmm...

[FinStar]

---

@pizzadude wrote:
It won't be included in your score ~ rental tradelines are excluded from FICO scoring.

---

+1

OP - The only beneft you would receive is just a reflection of payment history.

[shane82388]

---

@FinStar wrote:

---

@pizzadude wrote:
It won't be included in your score ~ rental tradelines are excluded from FICO scoring.

---

+1

OP - The only beneft you would receive is just a reflection of payment history.

---

Bummer. In their FAQ i think it says its included in the Experian Vantage Score but too bad its not in the FICO...maybe someday?

[shane82388]

In the case of Rental Kharma, they apparently report to the FICO Expansion Score...whatever that is?

[longtimelurker]

The main credit card use of things like WilliamsPaid (rent) and Chargesmart (mortgage/student loan/auto loan) is to meet minimum spend on new credit cards to get the bonuses. Didn't know that WilliamsPaid reported though....