Credit Score Boost for Renters
It’s a conundrum that a lot of renters face: you pay your bills on time every month. But, the monthly payments don’t count toward your credit score, meaning that you are less likely to qualify for a home loan. A new company called RentTrack is partnering with Experian and TransUnion to change that. Users of the service can pay their rent online through the RentTrack site. The credit bureaus will, at the renter’s request, add the payment history to the renter’s credit report. This should create a large credit score boost for renters.