Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
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It’s unlikely that your rent payment history appears on your credit reports, but that’s not because paying your rent on time isn’t important. More likely than not, it’s simply because your landlord doesn’t report your rent payments to the credit bureaus (Experian, TransUnion, and Equifax). Here’s what you need to know about your rental history and your credit, and how you may be able to get your on-time payments to show up on your credit report.
Most of the information that appears on consumer credit reports comes from lenders—banks, credit unions, finance companies, and providers of student loans and credit cards. These entities regularly furnish the three credit reporting bureaus with data on your acquisition, usage, and repayment of consumer credit. Each credit report contains four sections:
Since landlords and property management companies don’t usually supply information to the credit bureaus on their own, you’ll need to take action to get your rent payments added to your credit reports.
If rent payment information appears on your credit report, the newest versions of the FICO® Score and all versions of the VantageScore® credit scoring system can recognize it and factor it into your credit scores. A pattern of timely rent payments therefore has the potential to benefit your credit scores.
Using Experian Boost to share the history of rent payments made online may yield an increase in your FICO® Score 8 based on Experian credit data.
Rental payment history can be an indicator of creditworthiness, and modern credit scoring systems are equipped to factor it into your credit scores—but it likely won’t appear on your credit report because your landlord doesn’t report it to the credit bureaus. If you make rent payments online and you’d like your payment history to contribute to credit scores based on Experian data, try enrolling in Experian Boost and sharing your payment history.
At O1ne Mortgage, we understand the importance of maintaining a good credit score and how it can impact your ability to secure a mortgage. If you have any questions or need assistance with your mortgage needs, don’t hesitate to call us at 213-732-3074. Our team of experts is here to help you navigate the mortgage process and find the best solutions for your financial situation.
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