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Rental Payment Credit Reporting

Contributor

Rental Payment Credit Reporting

Hello fico forum people! Smiley Happy . I have a quick question. The papartments where I rent recently started offering a service to report rental payments to experian and transunion. 

 

https://allhttps://alliance.resident-link.com/?src=eblastiance.resident-link.com/?src=eblast

 

 

Is there any advantage in doing this? Will it actually help my credit score. I am currently mid 770's to upper 780's on all my scores. Would love to hear what you guys think. Thanks!

FICO 8 SCORES - EX 783- TU 784- EQ 801

Message 1 of 6
5 REPLIES
Community Leader
Legendary Contributor

Re: Rental Payment Credit Reporting

When reported, the account will be included in your average age of accounts calculation.

Is your average age of accounts currently longer than the age of the account?

Message 2 of 6
Super Contributor

Re: Rental Payment Credit Reporting


df6621 wrote:

Hello fico forum people! Smiley Happy . I have a quick question. The papartments where I rent recently started offering a service to report rental payments to experian and transunion. 

 

https://allhttps://alliance.resident-link.com/?src=eblastiance.resident-link.com/?src=eblast

 

 

Is there any advantage in doing this? Will it actually help my credit score. I am currently mid 770's to upper 780's on all my scores. Would love to hear what you guys think. Thanks!


For someone like you who already has good FICO scores I wouldn't mess around with it. I think it's more for people trying to establish credit.


FICO8 EQ 769 TU 791 EX 764 Total revolving limits 569900 (484900 reporting)






Message 3 of 6
New Member

Re: Rental Payment Credit Reporting

It worked for me! I had them do a full year of reporting my rent and my score went up 132 points with TU.  I used Rental Kharma.

Message 4 of 6
Community Leader
Legendary Contributor

Re: Rental Payment Credit Reporting

....it also informs others that you are not a homeowner, and thus infers lack of any real property assets.

Message 5 of 6
Contributor

Re: Rental Payment Credit Reporting


RobertEG wrote:

When reported, the account will be included in your average age of accounts calculation.

Is your average age of accounts currently longer than the age of the account?


Sorry for the late reply. The rental account is older than my AAOA by about 4 years. If reported would it show the original date it was opened, or the date they start reporting?

FICO 8 SCORES - EX 783- TU 784- EQ 801

Message 6 of 6