Valued Contributor
GregB
Posts: 1,669
Registered: ‎05-24-2007
Re: "Alternative Credit Data?"
[ Edited ]

Not only is it not worth any payment, but I feel many lenders will look at this as a negative. They may consider NO history better than someone that considers paying rent ontime a positive. Paying a service to report rent or utilites on time seems really desperate and would probably be viewed like a payday loan or similar.

 

You need to look at this from a lenders perspective. A lender will feel that EVERYONE pays their rent, utilities, etc. on time and is never late. If you don't, then they are likely to be really scared. A person is going to be late on a loan way before they would pay rent or utilities late.

 

I think you will benefit far more from a secured CC than paying money to someone looking to take advantage of someone with minimal credit history.