RENTAL Kharma is their service legit??

Anonymous · ‎07-26-2015

There is a company called rental kharma. according to their website you can get your apartment/house rental payments reported to Trans Union and your rent payments report as a open trade line on your credit report. The fee is $40 to sign up and $10 a month to verify your monthly payments with your landlord. I'm really on the fence about trying this and seeing if it helps improve my credit score. My brother is my landlord, so it should be no problem getting him to sign up if I do decide to go with the service.

Anonymous · ‎07-26-2015

@Anonymous wrote:
There is a company called rental kharma. according to their website you can get your apartment/house rental payments reported to Trans Union and your rent payments report as a open trade line on your credit report. The fee is $40 to sign up and $10 a month to verify your monthly payments with your landlord. I'm really on the fence about trying this and seeing if it helps improve my credit score. My brother is my landlord, so it should be no problem getting him to sign up if I do decide to go with the service.

Welcome to MyFico

I would be very skeptical. They can say they'll do anything but as it stands right now there is no reporting of rentals on any of the credit bureaus so not sure what they would actually report.

ttleigh · ‎07-27-2015

It's a legit company. I know people who have used them

Anonymous · ‎07-27-2015

How would this improve a credit score? Are they reporting the rental agreement as an installment loan?

Anonymous · ‎07-27-2015

Out of curiosity, I visited their website to see what it was about. It doesnt give much information, only that it reports as an open trade line. They only report to one bureau as well. This doesnt seem to be that great of a deal.

Scupra · ‎07-27-2015

I had some apartment leases report to experian. They reported the TL as an installment loan for what it s worth.