So i have this williampaid rent TL on my EX report. I know it has no direct impact on fico score however i was reading somewhere that Fair issac is analysing the rent data for a probable inclusion in the scoring model in near future. I know most of us wont like to show a high balance on our report , which may impact any internal scoring model while getting credit, other than whoever trying to build or rebuild credit. Last month when i pulled my score from here it was showing a total balance of like 7k on my report, since it included my rent balance until my 12 mnths terms. Fast forward today i pulled my EX report and it showing up the TL as terms of 1 month and credit limit as NA. So probably when i next pull my fico score I will get some extra points ?
Anyone else have a rent TL or know how it will impact now since its reporting differently? I am assuming terms equals 1 month is like OPEN .
What's it reporting as? If it's reporting as a revolving account vis a vis like a charge card, might help if it was counted against you earlier, or it may have already been excluded based on some other reporting field potentially. Confuzzled by the 12 months term since that's usually installment, and 1 month term in my experience is revolving PIF accounts.
@Revelate wrote:What's it reporting as? If it's reporting as a revolving account vis a vis like a charge card, might help if it was counted against you earlier, or it may have already been excluded based on some other reporting field potentially. Confuzzled by the 12 months term since that's usually installment, and 1 month term in my experience is revolving PIF accounts.
Sorry for the confusion. Here is the difference:
Last Month:
Type:Rental
Terms:12 months
Monthly Payment: 800$
Credit Limit: 9600$
High Balance:N/A
Recent Balance:7200$
Recent Payment:800$
Today:
Type:Rental
Terms:1 month
Monthly Payment: 800$
Credit Limit: 800$
High Balance:N/A
Recent Balance:800$
Recent Payment:800$
@Jayx wrote:
@Revelate wrote:What's it reporting as? If it's reporting as a revolving account vis a vis like a charge card, might help if it was counted against you earlier, or it may have already been excluded based on some other reporting field potentially. Confuzzled by the 12 months term since that's usually installment, and 1 month term in my experience is revolving PIF accounts.
Sorry for the confusion. Here is the difference:
Last Month:
Type:Rental
Terms:12 months
Monthly Payment: 800$
Credit Limit: 9600$
High Balance:N/A
Recent Balance:7200$
Recent Payment:800$
Today:
Type:Rental
Terms:1 month
Monthly Payment: 800$
Credit Limit: 800$
High Balance:N/A
Recent Balance:800$
Recent Payment:800$
Probably isn't counted as anything under the standard algorithms: Type = Rental
I have no clue when it comes to the non-traditional scoring models, this is pretty new territory compared to the decades of standard algorithm unfortunately. Maybe someone else has looked into them more than I (wouldn't be hard admittedly haha).
Thanks Rev. Looks like I am only one in the forum stuck with this rental TL 
@Jayx wrote:Thanks Rev. Looks like I am only one in the forum stuck with this rental TL
I have seen things like this in the state we moved too a few months ago when we were looking into rental homes. They only report to Experian, which sucks, but it does not seem to really effect your score other than to show you paid on time. So it may help in a manual review, but not in an automatic decision for any type of lending. Don't take only my word for it though, let others chime in first. 
@xXIDaShizIXx wrote:
@Jayx wrote:Thanks Rev. Looks like I am only one in the forum stuck with this rental TL
I have seen things like this in the state we moved too a few months ago when we were looking into rental homes. They only report to Experian, which sucks, but it does not seem to really effect your score other than to show you paid on time. So it may help in a manual review, but not in an automatic decision for any type of lending. Don't take only my word for it though, let others chime in first.
They're an outcropping of the non-traditional tradeline method in FHA and I believe conventional mortgages too (might be wrong on that second bit).
While they may get used at some point, under the current models, my understanding is it's ignored if you can generate a FICO Score; however, some of the non-traditional scores and underwriting guidelines (people that have been living a cash-based existence with no credit as an example) these do get used.
Easier just to build one's credit in my opinion but legions of people are unbanked.
I spoke to Experian and they said it will be marked as Installment Account in all credit scoring models including FICO. Vantage Score will consider "Rental" type and award me few points. Other score may count the balance , which I know FICO was defintely doing it since it was showing my total balance in all accounts,which included this one. Thank god, its not showing that 6K balance anymore!
whats weird to me is Terms=1 month and yet an installment loan ?
@Jayx wrote:I spoke to Experian and they said it will be marked as Installment Account in all credit scoring models including FICO. Vantage Score will consider "Rental" type and award me few points. Other score may count the balance , which I know FICO was defintely doing it since it was showing my total balance in all accounts,which included this one. Thank god, its not showing that 6K balance anymore!
whats weird to me is Terms=1 month and yet an installment loan ?
Yeah, I honestly don't know about that either: only other tradeline I know of with Term = 1 month is a charge card (in the Amex sense of the word, PIF every month). Actually my old phone tradeline might've shown up as that but I don't have the reports from circa 2000 to check anymore, would be interesting to see if utility payments wind up there, might be similar.
Balances on installment loans aren't a substantial score factor, and total debt isn't either if at all. If it's not marked as an installment loan on the report, I am not positive I'd take the word of a front-line CSR regarding the inner workings of the FICO or VantageScore algorithms honestly.
Still wouldn't worry about it at any rate.
@Revelate wrote:
@Jayx wrote:I spoke to Experian and they said it will be marked as Installment Account in all credit scoring models including FICO. Vantage Score will consider "Rental" type and award me few points. Other score may count the balance , which I know FICO was defintely doing it since it was showing my total balance in all accounts,which included this one. Thank god, its not showing that 6K balance anymore!
whats weird to me is Terms=1 month and yet an installment loan ?
Yeah, I honestly don't know about that either: only other tradeline I know of with Term = 1 month is a charge card (in the Amex sense of the word, PIF every month). Actually my old phone tradeline might've shown up as that but I don't have the reports from circa 2000 to check anymore, would be interesting to see if utility payments wind up there, might be similar.
Balances on installment loans aren't a substantial score factor, and total debt isn't either if at all. If it's not marked as an installment loan on the report, I am not positive I'd take the word of a front-line CSR regarding the inner workings of the FICO or VantageScore algorithms honestly.
Still wouldn't worry about it at any rate.
Thanks! Yeah i too think i should not worry much since it seems not be impacting anything other than eating few months of my AAoA, which is fine.