There’s good news and bad news on the credit reporting and scoring front. Renters could soon see their rental payment history affect their credit score.
The credit reporting bureau Experian now owns RentBureau, a credit bureau for apartment owners and managers. Experian is putting rental payment histories into its consumer credit reports. This can be good news for renters who want to boost their credit score, says Lynn Oldshue, editor at LowCards.com.
It seems surprising that rental payments have not been included in credit reports, but landlords avoided the stringent reporting and auditing requirements, only sending collections and evictions to credit bureaus. This could soon change because landlords will benefit from using RentBureau’s database to make background checks and screen rental applications.
This could be great news for renters who dream of owning their own home. This gives them a way to build up their credit score and qualify for a mortgage with a lower rate.
The bad news: The credit reporting and credit scoring business keeps expanding its. reach into other sectors of the economy, from jobs to insurance and now rent. It’s a colossus.
There’s good news and bad news on the credit score front. Renters could soon see their rental payment history affect their credit score.
The credit reporting bureau Experian recently bought RentBureau. It’s a credit bureau for apartment owners and managers. Experian is now putting rental payment histories into its consumer credit reports. This can be good news for many renters who want to boost their credit score, says Lynn Oldshue, editor at LowCards.com.
It seems surprising that rental payments have not been included in credit reports, but landlords avoided the stringent reporting and auditing requirements, only sending collections and evictions to credit bureaus. This could soon change because landlords will benefit from using RentBureau’s database to make background checks and screen rental applications.
This could be great news for renters who dream of owning their own home. This gives them a way to build up their credit score and qualify for a mortgage with a lower rate.
The bad news: The credit reporting and credit scoring business keeps expanding. Affect into spreading.
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