credit for renting

Credit For Renting

#WBChat#Credit4Rent

Wise Bread

Experian RentBureau sponsored Wise Bread’s weekly Twitter chat.

The community shared some great tips to help consumers learn about reporting their on-time rental payments to

build credit history.

experian.com/BuildCreditHistory

http://www.experian.com/blogs/news/about/financial-planning-millennials/

http://www.experian.com/BuildCreditHistory

http://www.experian.com/BuildCreditHistory

Have you rented or are you currently

renting where you live?

#WBChat#Credit4Rent

#WBChat#Credit4Rent

Leanne G@ladyleanneg

I have rented and I am currently renting.

I rented years ago. We own the home we are in.

Snower Ball@snowerball

#WBChat#Credit4Rent

Have been on both sides of the fence. Have been a tenant and a landlord.

Scott Matteson@matteson66

#WBChat#Credit4Rent

Currently renting through a program for military.

Shannon@sugar_spce

#WBChat#Credit4Rent

I rented for eight years before purchasing our current home.

Paul Moyer@SavingFreak

#WBChat#Credit4Rent

I can’t believe it, but I have never rented!

BekkiYoMomma@MyBekki

#WBChat#Credit4Rent

Did you know there are over 110 million renters in the U.S?

Experian@Experian_US

#WBChat#Credit4Rent

I rented in college, but no more!

F Reed III@fwreed3

#WBChat#Credit4Rent

The young often are not ready to make a permanent housing commitment. They

are still working on career goals.

jonlovesstacy@jonlovesstacy

#WBChat#Credit4Rent

After a decade of owning an older home, I kind of want to go back to renting.

Alicia S.@NinjaMomAllie

#WBChat#Credit4Rent

One thing I like about renting is not having to do any house repairs.

Susan Smith@susan1215

#WBChat#Credit4Rent

Do you think more people today are renting or buying a home?

#WBChat#Credit4Rent

Dana@lulellabella

Renting, because loans are harder to get.

#WBChat#Credit4Rent

Cammi@MomtoHM

In our area, rent is crazy! Goes within hours of becoming available!

#WBChat#Credit4Rent

Kristen Schwarz@kkschwarz2009

I think more people probably rent. Especially with our economy.

#WBChat#Credit4Rent

Amber Chandler@Chandlermom221

Renting; credit is a huge factor.

#WBChat#Credit4Rent

Stephanie Rollman@stephrollman

Renting; economy is bad where I live. Should be buying houses but everyone

is selling and renting.

#WBChat#Credit4Rent

Marcea@andmarcea

I think a LOT more people are renting, especially millennials and people who

live in urban areas.

#WBChat#Credit4Rent


First time home buyers rent for six years before buying a home.

#WBChat#Credit4Rent


It will vary greatly by where you live. In areas where housing is less

expensive, buying makes more sense.

#WBChat#Credit4Rent


Buying. Renting doesn’t give the feeling of stability. I think more people

want to be grounded.

#WBChat#Credit4Rent

RockingntheFreeWorld@Free_Fries_

Depends on the location. People in the HCOL areas are renting more I think.

#WBChat#Credit4Rent

Rebecca Lock@alady3lads

Renting - at least around here the rental market is competitive - many

looking but little availability.

#WBChat#Credit4Rent

Susan Smith@susan1215

More people are buying houses, with the lower interest rates.

#WBChat#Credit4Rent

Kristina P@krazykris_2000

I’d say renting because it’s so hard to get good financing or be approved in

this market!

#WBChat#Credit4Rent

Wise Bread@wisebread

Homeownership is down. More people are renting/paying more.

#WBChat#Credit4Rent

Leslie H. Tayne, Esq@LeslieHTayneEsq

I’d have to imagine more people are renting. Considering how many folks are struggling to build good credit!

#WBChat#Credit4Rent


Rents are way too high out here. If you make the minimum wage or less than $17 per hour, you just can’t make it.

#WBChat#Credit4Rent

Credit Info Center@creditinfocentr

In June, the New York Times said more Americans are renting.

#WBChat#Credit4Rent

Mortgage payments are reported on credit reports, are rent payments on credit reports?

#WBChat#Credit4Rent

Amanda@dreambeyonddebt

I was told by a lender that you can use them if you need to in order to show a

number of timely payments.

#WBChat#Credit4Rent


It depends on the landlord and whether they report to the credit bureaus. Just

like some utilities are reported.

#WBChat#Credit4Rent


Depends on if you rent from a property management company or an individual.

Individual not likely to report.

#WBChat#Credit4Rent

Lisa P.@MykidsMylife72

Yes, for us it was reported unless we went through a private homeowner.

#WBChat#Credit4Rent


It depends if it is through a management company that reports or

not, but usually no.

#WBChat#Credit4Rent


It depends. Some landlords report payment history to credit bureaus,

some don’t.

#WBChat#Credit4Rent

CARE@care4yourfuture

Rent payments are on credit reports. NerdWallet reported on the change

about a year ago.

#WBChat#Credit4Rent

Alyssa Jarrett@alyjarrett

I’ve never seen rent payments on credit reports, but miss one and you

bet your credit will suffer.

#WBChat#Credit4Rent


Experian now adds positive rent payments reported to Experian RentBureau to credit reports!

#WBChat#Credit4Rent

Wise Bread@wisebread

Experian is the first credit-reporting agency to include on-time rental payments on their credit reports!

#WBChat#Credit4Rent


We did this to empower Americans to build their credit history through rent

payments!

#WBChat#Credit4Rent


Depends on whether or not your landlord reports your payments or not!

#WBChat#Credit4Rent


In the past, only negative rental collections information was on credit

reports.

#WBChat#Credit4Rent


Payments show up like a car loan (if you have a defined lease period) or charge card (when you pay month-to-month).

#WBChat#Credit4Rent

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; ClearNow, RentTrack or PayYourRent.

#WBChat#Credit4Rent


Renters should get credit for their on-time rental payments to help renters

build credit history.

#WBChat#Credit4Rent

Can rent payments on your credit report help you build credit history? If yes, how?

#WBChat#Credit4Rent

Melanie Pridgen@lnghairedgrl

If they are on time, yes. On-time payments are always a great thing for

creditors to see.

#WBChat#Credit4Rent


On-time rental payments help consumers build credit history.

#WBChat#Credit4Rent


Definitely! It shows history of reliability and hopefully can help

increase your score.

#WBChat#Credit4Rent

Alicia S. @NinjaMomAllie

If reported to Experian, positive payment rental history can help grant

approvals from lenders.

#WBChat#Credit4Rent

Kristina P @krazykris_2000

Absolutely! Paying bills on time shows creditors that you are reliable and

creditworthy.

#WBChat#Credit4Rent

Paul Moyer @SavingFreak

Anytime you are making on-time payments, it shows that you are being

responsible and are a good risk for more credit.

#WBChat#Credit4Rent

Marcea @andmarcea

Yes, because it reflects the ability of the renter to pay a bill on time!

#WBChat#Credit4Rent

Zerina Grace@ZerinaGrace

Making payments on time is always a good thing for your credit history!

#WBChat#Credit4Rent

Mortgages Dot Com@WeAreMortgages

By making them on time, and making sure they’re reported. Might help to

do auto withdrawal.

#WBChat#Credit4Rent

Jennifer@redfuzzycow

Yes, it’s a positive on your credit report.

#WBChat#Credit4Rent


Yes, because it shows you’re a reliable tenant, can make big payments, and

increase your credit score.

#WBChat#Credit4Rent


Yes, showing you’ve consistently made on-time payments over a long period

of time builds credit history.

#WBChat#Credit4Rent


Paying on time is a great way to show you can manage credit - whether it’s

through rent or anything else!

#WBChat#Credit4Rent

Navicore Solutions@navicorePR

Paying on time, whether it’s rent or mortgage, is key to building a solid

credit score.

#WBChat#Credit4Rent


Your landlord can sign up for RentTrack and opt in to RentBureau,

which reports to Experian.

#WBChat#Credit4Rent


Can help boost your credit score when you’re ready to buy.

#WBChat#Credit4Rent

Should renters, like homeowners, be able to build credit history through rent payments?

#WBChat#Credit4Rent

Melissa Agelson@mom321

Yes, if you are paying on time!

#WBChat#Credit4Rent

Olivia@yoda1librarian

Yes, because it’s their money. They are paying on time.

#WBChat#Credit4Rent


Yes, renters should be able to, but late payments should also cause a negative

like homeowners.

#WBChat#Credit4Rent

Lisa P.@MykidsMylife72

Of course! They make their payments too and deserve it!

#WBChat#Credit4Rent

Shirley DuBose@MzShirleyD

Absolutely! We pay monthly just like homeowners, so we should get credit

for good payment history.

#WBChat#Credit4Rent

Marcea@andmarcea

Absolutely, no one should be at a disadvantage because they choose to

rent instead of buying!

#WBChat#Credit4Rent


Absolutely! Paying rent on time can help you establish or build credit

history!

#WBChat#Credit4Rent

Sindaset@1practicalsoul

Yes, they should! The positive rental payment history must be included!

#WBChat#Credit4Rent


Yes, if they know they can consistently pay their rent on time. Remember the consequences if you don’t pay on time.

#WBChat#Credit4Rent


Absolutely, and it is something that is long overdue.

#WBChat#Credit4Rent


If you can build credit by leasing a car, you should be able to build credit by

renting an apartment or home.

#WBChat#Credit4Rent

Navicore Solutions@navicorePR

Yes, credit score is an indicator of your ability to manage your money and pay

on time.

#WBChat#Credit4Rent

Elan Karpinski@withElan

Absolutely. This is a lot of moneywe’re talking about!

#WBChat#Credit4Rent


There are over 100 million renters who deserve to get credit for their rent

payments.

#WBChat#Credit4Rent


Yes, they should be able to - paying on time is paying on time.

#WBChat#Credit4Rent

Atlanta Braves Fan@MomLuvsSPORTZ

Yes, they are obligated to make timely payments through a contract too! A

contract is a contract!

#WBChat#Credit4Rent


Making rent payments on time and in full is something that is commendable. If you do well, it should be reflected.

#WBChat#Credit4Rent


Absolutely! It shows to potential lenders they are capable of paying rent

or a mortgage.

#WBChat#Credit4Rent

Anna Pry@DaPryz

Yes! It’s a monthly obligation like a mortgage payment is.

#WBChat#Credit4Rent


Gen Y is taking longer to establish credit.

#WBChat#Credit4Rent


Absolutely! We should be pushing for any place, where you make regular payments,

to report to credit bureaus.

#WBChat#Credit4Rent

JoAnn Riker@JoRiker

Yes sir! Building great credit is important for future investments and purchases.

#WBChat#Credit4Rent

Kevin C. Swanson@kevincswanson

Just like paying an auto loan, paying regular rent should build your credit

history.

#WBChat#Credit4Rent


Rental payments could help build their credit history.

#WBChat#Credit4Rent

Krystie Vines@MrsKrystie

I think so! They are responsible enough to keep their apartment just

like homeowners do homes!

#WBChat#Credit4Rent


Should be! It’s a huge responsibility and part of one’s monthly income. Shows a lot if payments are timely.

#WBChat#Credit4Rent


Absolutely! If you pay rent on time every month, you are rocking it, and

that should count for something.

#WBChat#Credit4Rent

Kasasa@Kasasa

Paying your rent on time will not only build credit history, but will make sure you don’t end up evicted! No bueno.

#WBChat#Credit4Rent


Absolutely! An on-time payment is an on-time payment.

#WBChat#Credit4Rent

Why should on-time rent payments be reported to credit bureaus?

#WBChat#Credit4Rent

Alicia S. @NinjaMomAllie

It’s only fair - negative payment history is reported!

#WBChat#Credit4Rent


Because it can help millions of people build credit history! Especially younger

generations.

#WBChat#Credit4Rent

Stephanie@StephanieMcGloh

So it can help the renter’s credit! They are paying on time and should benefit

from that.

#WBChat#Credit4Rent

Gina B@jigglesfrog

They’re recurring payments that show an ability to pay on time.

#WBChat#Credit4Rent


You need credit to buy a car, a home, or even to buy a cell phone/rent a car.

#WBChat#Credit4Rent

Amber Cheras@shadow62310jail

It’s a way to build your credit up and to show everyone how responsible

you are when you pay on time.

#WBChat#Credit4Rent

Shawna Poole@BamAubLev3

Because as you are with credit cards, you are making payments, and that

should be reported too.

#WBChat#Credit4Rent


It shows a person is capable of paying a bigger bill on time. It shows responsibility.

#WBChat#Credit4Rent

Leanne G.@ladyleanneg

On-time rent payments should be reported to prove credit worthiness

and could boost a person’s score!

#WBChat#Credit4Rent

Sindaset@1practicalsoul

Because it is important that the responsible renters get credit for their

timely rent payments.

#WBChat#Credit4Rent


Any type of recurring on-time payment should help people’s credit. We need to

reward people for being responsible.

#WBChat#Credit4Rent


To build credit history for the renter, and show creditworthiness and risk.

#WBChat#Credit4Rent


To help build renter’s credit reports and scores. It can help them become a

homeowner sooner.

#WBChat#Credit4Rent

Kristina P.@krazykris_2000

To show creditors that we ARE creditworthy, responsible, and

reliable! We are trying hard!

#WBChat#Credit4Rent

Stacy@TeacherStacyH

Because it shows you are just as responsible as the person making a

mortgage payment.

#WBChat#Credit4Rent

Charlotte Stacy@stacycharlotte1

Because we pay just like everyone else, and it helps us in buying our own home.

#WBChat#Credit4Rent


Show that payments are made in a timely manner, which is what companies

viewing credit reports want to know.

#WBChat#Credit4Rent

Stacy@TeacherStacyH

You can’t build credit without opportunities that show you are

responsible and it counting.

#WBChat#Credit4Rent


Because you need credit for major purchases. Many people rent and

should be rewarded if they pay on time.

#WBChat#Credit4Rent

Marcea@andmarcea

Because it’s just like any other account you have to pay - like utilities. And it

helps build credit!

#WBChat#Credit4Rent


Responsible renters can build credit history from on-time rental payments.

#WBChat#Credit4Rent


Having rent payments reported to credit bureaus can benefit landlords too!

#WBChat#Credit4Rent


You show responsibility by paying your rent on time. It is also great for

younger people to build their credit.

#WBChat#Credit4Rent


It shows responsibility to make payments on time. Young renters may

not have credit cards to help build credit.

#WBChat#Credit4Rent


Credit scores are indicators of creditworthiness (i.e. financial responsibility). On-time rent

payments qualify.

#WBChat#Credit4Rent

What should renters do if they want their rent reported on their credit report?

#WBChat#Credit4Rent

LaughorCryDontMatter@LaughorCryonFB

A good place to start would be with their landlord. Ask them to report good payments to credit centers.

#WBChat#Credit4Rent

Josh L.@coyotezeyes

Ask their landlords to report it. If they won’t, then maybe find a new place

that will.

#WBChat#Credit4Rent

Steven Weber@groogruxking40

Ask the landlords to report it - they’re obligated.

#WBChat#Credit4Rent

Kasasa@Kasasa

An excellent point on the value of establishing credit.

#WBChat#Credit4Rent


Ask the property management company if they report rental payment

info to Experian RentBureau.

#WBChat#Credit4Rent


You will have to push the landlord or property manager. Doubtful they are going to seek this out on their own.

#WBChat#Credit4Rent


The first step is to ask the landlord to start reporting it. If they don’t, encourage the

landlord to join a program.

#WBChat#Credit4Rent

Krystie Vines@MrsKrystie

Ask the leasing agent before signing the lease.

#WBChat#Credit4Rent

Betsy R. Barnes@sassypinktaz

Contact their landlord and request it be reported.

#WBChat#Credit4Rent


Rent from a landlord who reports rent payments to Experian RentBureau!

#WBChat#Credit4Rent


Use one of the rent payment service providers mentioned here.

#WBChat#Credit4Rent


Or consider enrolling with a rental payment service that works with

Experian RentBureau.

#WBChat#Credit4Rent

Kasasa@Kasasa

Dress up in your scariest Halloween costume and scare your landlord into

making sure it’s reported.

#WBChat#Credit4Rent

Stephanie Christensen@WellnessOnLess

Politely ask your landlord to report it, to help your credit. Many simply may

not know of the service.

#WBChat#Credit4Rent

If you could pick the perfect roommate,who would it be and why?

#WBChat#Credit4Rent

Olivia@yoda1librarian

Carlton Banks! Fresh Prince of Bel-Air! Neat and will pay on time!

#WBChat#Credit4Rent


Robin Williams, so I could tell him every day what he meant to this world.

#WBChat#Credit4Rent

Dana@lulellabella

My ideal roommate is Mary Poppins. She could clean and cook for me, and take

care of me when I’m sick.

#WBChat#Credit4Rent

Leanne G.@ladyleanneg

I would choose Superman! I think he would be so handy! Moving furniture

and repairing things!

#WBChat#Credit4Rent


Beyonce, so she could teach me all her dance moves.

#WBChat#Credit4Rent


Ben Franklin, I know he would be good with money and a great

conversationalist.

#WBChat#Credit4Rent

Toni B.@rychepet

Rachel Ray - she could have dinner ready in less than 30 minutes!

#WBChat#Credit4Rent

For more information on how paying rent on time builds your credit history, visit

www.experian.com/BuildCreditHistory

http://www.experian.com/blogs/news/about/financial-planning-millennials/

credit for renting

Economy & Finance