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Rental Payment Credit Reporting

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Anonymous
Not applicable

Rental Payment Credit Reporting

Hello fico forum people! Smiley Happy . I have a quick question. The papartments where I rent recently started offering a service to report rental payments to experian and transunion. 

 

https://allhttps://alliance.resident-link.com/?src=eblastiance.resident-link.com/?src=eblast

 

 

Is there any advantage in doing this? Will it actually help my credit score. I am currently mid 770's to upper 780's on all my scores. Would love to hear what you guys think. Thanks!

Message 1 of 6
5 REPLIES 5
RobertEG
Legendary Contributor

Re: Rental Payment Credit Reporting

When reported, the account will be included in your average age of accounts calculation.

Is your average age of accounts currently longer than the age of the account?

Message 2 of 6
SouthJamaica
Mega Contributor

Re: Rental Payment Credit Reporting


@Anonymous wrote:

Hello fico forum people! Smiley Happy . I have a quick question. The papartments where I rent recently started offering a service to report rental payments to experian and transunion. 

 

https://allhttps://alliance.resident-link.com/?src=eblastiance.resident-link.com/?src=eblast

 

 

Is there any advantage in doing this? Will it actually help my credit score. I am currently mid 770's to upper 780's on all my scores. Would love to hear what you guys think. Thanks!


For someone like you who already has good FICO scores I wouldn't mess around with it. I think it's more for people trying to establish credit.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 3 of 6
Anonymous
Not applicable

Re: Rental Payment Credit Reporting

It worked for me! I had them do a full year of reporting my rent and my score went up 132 points with TU.  I used Rental Kharma.

Message 4 of 6
RobertEG
Legendary Contributor

Re: Rental Payment Credit Reporting

....it also informs others that you are not a homeowner, and thus infers lack of any real property assets.

Message 5 of 6
Anonymous
Not applicable

Re: Rental Payment Credit Reporting


@RobertEG wrote:

When reported, the account will be included in your average age of accounts calculation.

Is your average age of accounts currently longer than the age of the account?


Sorry for the late reply. The rental account is older than my AAOA by about 4 years. If reported would it show the original date it was opened, or the date they start reporting?

Message 6 of 6
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