topic Re: Anyone used RentTrack? in General Credit Topics

Anyone used RentTrack?

Anonymous — Sat, 06 Oct 2018 20:18:41 GMT

Seems like a nice serivce to set automatic payments for rent. It also appears to have an effect on Vantage Score but wondering if it would benefit FICO 8? If anyone has any experience with this service, I would love to hear about it.

Re: Anyone used RentTrack?

Anonymous — Sat, 06 Oct 2018 20:33:51 GMT

FICO 8 does not consider rent. FICO 9 does.

https://blog.myfico.com/fico-score-9-whats-the-difference/

Re: Anyone used RentTrack?

HeavenOhio — Sun, 07 Oct 2018 02:08:01 GMT

If you have no credit, it'd be a no-brainer to latch onto something like this. Even if it doesn't generate the full complement of scores, it's still a positive account with a payment history that lenders can view when they pull your report. One could be positioned for a half decent unsecured major card as his first account.

Just about everyone else should probably skip this. It's going to unnecessarily drag down AoYA and AAoA. An exception might be rebuilders who feel that the additional positive account might help them with the process.

Re: Anyone used RentTrack?

Anonymous — Sun, 07 Oct 2018 18:41:27 GMT

My rent is on auto pay and it reports to EX. It shows as an installment loan, not as rent. It’s not renttrack tho. 7 years of on time payments that count towards Credit age is always a win.