Why Building Your Credit History Is Important
Credit plays an important role in your life — affecting the purchases you make and much more. A credit history is vital in today’s economy and enables you to obtain valuable credit services such as credit cards, mortgages and auto loans. Lenders use credit reports and credit scores to gauge the likelihood that you will pay back a loan. We understand the importance of building credit history and believe that responsible renters should get credit for managing their rental payments.
How Paying Rent On Time Helps Build Your Credit History
Experian incorporates on-time rental payment data reported to Experian RentBureau into Experian credit reports. Your rental payment information will be included as part of your standard credit report and may be incorporated into certain credit scores. The inclusion of positive rental payment history within Experian credit reports allows you to establish or build credit history through timely rental payments.
For FAQs about rental payments on your credit report
“In the long run, having a two-year excellent credit line for my rental payments will add value by helping me to potentially receive lower interest rates on a mortgage and car and consumer loans. I may even get a better rate on insurance premiums.”
— B. Scott, Multifamily resident
How Rental Payment Data is Used
Experian RentBureau receives updated rental payment data every 24 hours from property management companies and electronic rent payment services nationwide. This data is accessed by resident screening companies for use during the application process for prospective residents. Continuous on-time rental payment data also may be incorporated within Experian credit reports, which are used by various types of credit-granting institutions, including banks, auto finance companies and telecommunications providers.
How To Make Sure Your Rent Is Reported
ASK: If you currently rent or are considering renting, ask your property management company if it reports rental payment data to Experian RentBureau.
ENROLL: If you rent from an individual landlord or property management company that does not report data, sign up through a rent payment service working with Experian RentBureau. These services allow for the payment and collection of your rent electronically. And as an added benefit, you have the ability to opt-in to reporting your rental payment history to Experian RentBureau.
To learn more about these services, visit the rental payment service providers working with Experian RentBureau:
In The News
Do you want to build your credit history? Pay your rent on time.
CNN’s The Situation Room reports that Experian is now including rental payment history data on its credit reports. This change could impact millions of renters nationwide.
Find Answers to Your Questions
For FAQs about rental payments on your credit report click here.
Consumer Resources
Experian RentBureau Rental History Report
If you would like to request your Experian RentBureau Rental History Report, fill out and submit the form below.
Experian RentBureau wants your rental history report to be as accurate as possible. If you have reviewed your rental history report and found an error, fill out and submit the form below or call 1 877 704 4519.
Credit Education
At Experian, we want you to be fully armed with the knowledge you need to maintain a good credit rating. To learn how to better understand, build and manage your credit click the link below.
Gain a Better Understanding of Your Credit with Experian Credit Educator
For $39.95 you'll receive a one time, one-on-one credit education session including:
A copy of your Experian credit report and score
A step-by-step walkthrough of your personal credit report
Specific examples of actions that may increase your credit score
Insight for future decisions in personal credit management
or call us at 1 877 858 5308.
(not available in WI)
Experian Credit Educator is brought to you by Experian's Education Division.