Question for the experts on here about how rent reporting will affect my credit score

[MikeyMagic]

So last month I signed up for this REALPAGE rent reporting for $5 a month. I thought it would help my credit score with reporting every month to the bureaus.

Well I just looked and it seems it is only getting reported to Equifax(at least so far, maybe the other bureaus will update it soon).

And here's the thing, I just saw it show my rent payment $1850 a month but it had 10 months of back reporting as well, going back to 2022.

2 questions

1)Will this help my score somehow? No late payments or missed payments

2)My credit limits total $1500 between my 4 starter cards, but the rent is higher than that. Will that hurt me down the road after I garden and eventually want to apply for more credit cards? Having a rent payment higher than my credit limits? 

I did this reporting thinking it would help my credit score but now I'm not so sure. 

Please help, thanks so much.

[FireMedic1]

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@MikeyMagic wrote:

So last month I signed up for this REALPAGE rent reporting for $5 a month. I thought it would help my credit score with reporting every month to the bureaus.

Well I just looked and it seems it is only getting reported to Equifax(at least so far, maybe the other bureaus will update it soon).

And here's the thing, I just saw it show my rent payment $1850 a month but it had 10 months of back reporting as well, going back to 2022.

2 questions

1)Will this help my score somehow? No late payments or missed payments

2)My credit limits total $1500 between my 4 starter cards, but the rent is higher than that. Will that hurt me down the road after I garden and eventually want to apply for more credit cards? Having a rent payment higher than my credit limits? 

I did this reporting thinking it would help my credit score but now I'm not so sure. 

Please help, thanks so much.

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All these score booster programs may raise a score a tad. But now this program and other companies has more of your personal info. Its been said its ignored just like AU accounts when applying for credit. You got the 4 cards. Build history with responsible use. Time does more than anything else. There's enough stuff out there we cant stop watching us. Why add more people looking in your window.

[MikeyMagic]

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@FireMedic1 wrote:

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@MikeyMagic wrote:

So last month I signed up for this REALPAGE rent reporting for $5 a month. I thought it would help my credit score with reporting every month to the bureaus.

Well I just looked and it seems it is only getting reported to Equifax(at least so far, maybe the other bureaus will update it soon).

And here's the thing, I just saw it show my rent payment $1850 a month but it had 10 months of back reporting as well, going back to 2022.

2 questions

1)Will this help my score somehow? No late payments or missed payments

2)My credit limits total $1500 between my 4 starter cards, but the rent is higher than that. Will that hurt me down the road after I garden and eventually want to apply for more credit cards? Having a rent payment higher than my credit limits? 

I did this reporting thinking it would help my credit score but now I'm not so sure. 

Please help, thanks so much.

---

All these score booster programs may raise a score a tad. But now this program and other companies has more of your personal info. Its been said its ignored just like AU accounts when applying for credit. You got the 4 cards. Build history with responsible use. Time does more than anything else. There enough stuff out there we cant stop watching us. Why add more people looking in your window.

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I signed up for this rent reporting 3 weeks before I started getting credit cards. I read some stuff and thought it was a positive thing. Now I am not so sure, especially what you are telling me. Should I reach out to this company and tell them I don't want it reported anymore? It does have 10 months reported so that's good right? I mean my longest credit card so far is 1 month lol so maybe 10 months of rent reporting would be nice to have?

I don't know what to do now.

[JoeRockhead]

In addition to what @FireMedic1 said, I'd add that lenders pull from different CRAs so there's always the possibility that a lender you're applying to doesn't use EQ for example. The other issue, as stated, is that many lenders will simply exclude such (boosted)data when evaluating your file. In other words, it's not something that's universally accepted, or factored when making approval decisions. It's seems more of a feel good gimmick, giving a sense of false hope as far as I'm concerned.

[FireMedic1]

All its really doing is showing you pay rent on time. Its not a revolving credit line or installmanet loan. Cards and loans show on time payments. Plus 4.99 a month? $59.88 a year? Experian Boost is free. Building a solid credit file takes time and will build a good payment history on your own. Primary account holders get all the benefits. JMO.

[MikeyMagic]

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@FireMedic1 wrote:

All its really doing is showing you pay rent on time. Its not a revolving credit line or installmanet loan. Cards and loans show on time payments. Plus 4.99 a month? $59.88 a year? Experian Boost is free. Building a solid credit file takes time and will build a good payment history on your own. Primary account holders get all the benefits. JMO.

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So what should I do now? Leave it showing because it has 10 month of reporting? Or try and remove it permanently by calling Realpage.