Rent Payments not showing up on credit report.

[Anonymous]

Help! My score dropped from 780 to 736 this past quarter. I have only one credit card which I have not used, so having a zero balance on that account seems to be hurting my score. However I moved a couple of months ago and have paid my rent early each month. This is not showin up on my credit report. Will it start showing up eventually? I was hoping responsible rent payment would help my score, but since I am renting from individual owners and not some kind of property management company, I don't know if that is effecting the information not being on my credit report. Also my new address is not on my current credit report eventhough I have changed it on my driver's license and with the post office.

So, my questions are

1. Will my rent payments start showing up on my report eventuall?

2. Will paying my account with the Bursers office at my University start showing up on my report? I don't have a student loan, but I do responsibly make payments on any balance due with the burser's office.

Thanks for any input that you can give me!

[Anonymous]

As far as I know, rent payments can only show up as negatives on your report if you don't pay (if your landlord or whoever gives your name to a collections agency), but typically nothing positive shows up on reports about paying rent. It's not like a mortgage in which you're given property with an agreement to pay it off, it's a month to month contract like a cell phone plan or utility bills, which also don't show up on your report unless you don't pay them.

That's my vague understanding of it, I'm sure someone else here will further clarify much better.

[DI]

Message Edited by DI on 08-27-2009 11:32 AM

[Anonymous]

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@DI wrote:
If you really want your rent payments to show up on your credit reports break the lease and not pay it.  You will see your rent tradeline in the form of a collection account, and score dip to 500.

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Not a necessary comment.

[Anonymous]

Thanks guiness56, you're right about the unnessary comment. I wasn't looking for ways to hurt my credit score, but to help it. The reason I thought rent payments might show up is because years ago (like 20 years ago before I bought my first house and was a renter for the first time) I thought I recalled seeing a credit report with my address where I was renting and a summary statement that said no late payments.

I've never used credit cards and really don't want to, but since my house was paid off several years ago and the only debt I have is my car payment, it seems like not having enough debt is hurting my credit report... weird. Its too bad that they don't consider people who are responsible enough not to incur debt in the first place as good credit risks! If I can't afford it... I don't buy it... except of course on a major purchase like a car or house.

Oh well. Thanks all for your input.

[DI]

Message Edited by DI on 08-27-2009 11:33 AM

[Lel]

Time to give it a rest, everyone.  Thank you.

[907grown]

Yeah, I've rented for years, I have always paid my rent on time, never had it reported.  It will get reported only if you get evicted or sued over the property for some reason.

[Anonymous]

There is a site that will report utitlity and rent payments.  I can not remember who they are but will look into it.

[jackg]

In Michigan, DTE, electric utility, reports to the CRA's.