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New Visitor
Posts: 2
Registered: ‎04-04-2007
0

Does adding rental payment history help your FICO scoring?

I was forced into BK and have been doing everything possible to re-establish my once beautiful 800 credit score.  I have been renting a home from an individual for just over two years and would like to add that positive payment history.  Does anyone know how to do this?  Does it help?
 
I am doing all of the other things, car payments, credit cards, etc., but would really like to add this.  Please help.
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
0

Not reportable



Ntherapy wrote:
I was forced into BK and have been doing everything possible to re-establish my once beautiful 800 credit score.  I have been renting a home from an individual for just over two years and would like to add that positive payment history.  Does anyone know how to do this?  Does it help?
 
I am doing all of the other things, car payments, credit cards, etc., but would really like to add this.  Please help.


 
Rental history is not recognized by FICO scoring though it can be used in cases, such as applying for a mortgage to prove payment history when that history is too short. In order for any account history to be reported the reporting party must be a reporting member of the bureaus.  Most landlords are only reported after they engage a professional collector to  collect negative rental income.

New Visitor
Posts: 2
Registered: ‎04-04-2007
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If I wanted to try to get my landlord to be one of those...

If I wanted to try to get my landlord to be one of those recognized by the FICO boards, how would I go about doing that?  Anyone know?
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
0

Cost Prohibitive



Ntherapy wrote:
If I wanted to try to get my landlord to be one of those recognized by the FICO boards, how would I go about doing that?  Anyone know?


 
there are membership fees associated with bureau reporting that I believe would be prohibitive for something like a landlord.  I have a state student loan, andthese people make tens o thosands in loans yearly but only report to one bureau. 

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