Trying to Rent

[Anonymous]

What does it mean when the rental application states that your credit report must be 75% positive? How do I determine if I qualify?

[llecs]

That's hard to quantify. Strange they'd say that, but maybe good for you? Would they figure three-quarters of the reported accounts have to be displayed as a positive? Or do 75% of all payments have to be on time? Or could the argument be made that paid off accounts are a positive because they are paid (per FICO they aren't)? In any case, spin it based on the payments made. Let's say you have 1 accounts reporting for 5 years. That's 60 payments. Combine that with all of your other accounts, surely it would be easy to show 75% positive history.

[Anonymous]

thanks for your input! very helpful

[bettercreditguy1]

75% positive means out of every 4 accounts reporting in your file, THREE must be positive, only one negative. Sounds like they are very reasonable to me.

[bettercreditguy1]

Generally speaking, as a landlord, We look for non-payments, charge offs, collections, and judgements. Those four items almost always knock you down to the bottom of the desired applicant list. Second, after looking at that, we look at WHAT types of accounts are in those buckets. For example, we MIGHT overlook a small med pay or credit card bill. If you owe past due utility bills, this too weighs very heavy on placing you at the bottom of the approval list.