topic RentalKharma.com -- Is it worth it? in Rebuilding Your Credit

RentalKharma.com -- Is it worth it?

Anonymous — Mon, 02 Apr 2018 12:45:34 GMT

I saw an ad on Facebook for RentalKharma.com, a site that claims that it will report your good rental history to the credit bureaus, and that it can have a positive impact on your credit score. Has anyone heard of this, or tried it? Curious to see if it's worth it before I sign up and bug my landlords to report my fantastic rental history.

Re: RentalKharma.com -- Is it worth it?

avp99 — Mon, 02 Apr 2018 13:29:12 GMT

+ 1

I am interested to see what others think also.

Re: RentalKharma.com -- Is it worth it?

Kree — Mon, 02 Apr 2018 13:58:08 GMT

My most recent apartment started reporting. I asked for it to be removed for several issues.

1. It only reported at one CRA

2. It lowered my AAoA

3. It gave me a lower AoYA

4. It reported as a revolving account with 100% uti every month.

5. It reported the full monthly rent even though I share the cost with another tenant. This reporting would have killed my DTI.

I think I lost about 80 points because of it. Fortunately they removed the reporting without complaint.

As always, YMMV, I can see a thinner newer profile benefiting if it properly reports as a installment account. Although if it doesn't report to all 3, I would recommends not getting it, just for report symmetry (personal bias there.)