July 10, 2015

Paying Rent On Time Probably Won't Help Credit Score

By Marcie Geffner - LendingTree.com

Savvy consumers know paying their monthly bills on time is one of the best ways to boost their credit score.

But often, there’s one glaring exception: rent.

In most cases, paying rent for an apartment or house doesn’t affect your credit score.

That’s because most apartment owners, landlords, and management companies don’t report rent payments to the three major U.S. credit bureaus, which track consumers’ credit habits and collect the data that’s used to generate credit scores. The three bureaus are TransUnion, Experian, and Equifax.

Read more:
http://blog.lendingtree.com/2015/07/08/no-paying-your-rent-on-time-has-not-helped-your-credit/