Experian: Another Good Reason to Pay Rent On Time - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Experian: Another Good Reason to Pay Rent On Time

Experian: Another Good Reason to Pay Rent On Time

Experian: Another Good Reason to Pay Rent On Time
The content is accurate at the time of publication and is subject to change.

Paying rent on time has never been a better idea! Because the U.S. homeownership rate has not looked this bad in over ten years, Experian’s potential credit boost has received a warm welcome. About one-third of Americans rent their home and Experian is making rental history a part of building good credit. Being a renter myself and proud to say that I have always been on time; I think it is great to have the opportunity to add to my growing credit history. Who does not want every good point that they can get?

Many college students could benefit from this because insufficient credit history tends to be the problem at this stage in life. No matter who you are though, as long as you are paying rent on time, you could always benefit from an increase in good credit.

Those who rent out apartments or their own property will have more information to base a decision on who will be accepted to rent and who will be denied. Having more data on rental history is beneficial to know if someone is responsible and likely to pay their rent on time.

Experian’s rent payment history is like extra credit points from the teacher you wish you could have received the points from, unless you are among those who do not pay rent on time. Right about now, you may be getting nervous and thinking of who you can borrow money from until the next paycheck. If this is you, today could be the day to make a resolution to pay rent on time from now on.

However, there’s a catch! Besides not paying rent on time, the problem with Experian’s idea of helping good renters out is that only about 8 million renters are being reported about by their property managers. This might only be about 22% of all American renters. While Experian is the first to include rent payment history, they do not know the payment history about the majority of those who rent.

As I was coming to the close of this article, I called my landlord curious if he reports my rent payments of Experian. He said “no.” I still plan to pay on time but it would have been nice to know that paying one time was helping me build good credit. I suppose late payments on rent will have to be enough to keep the majority of us paying on time for now.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

American Express Making it Easier to Resolve Transaction Disputes

Posted: October 19, 2018

Have you ever noticed a strange charge on your credit card statement, and then called up to find out what it was, only to get frustrated by the lack of information available? If so you may well be happy to learn that American Express has ... Continue reading
New Travel Benefits for Mastercard World and World Elite Cardholders

Posted: October 18, 2018

Mastercard has upped the ante when it comes to travel for Mastercard World and World Elite cardholders by adding two new benefits into the mix. Now cardholders get access to Mastercard’s Hotel Stay Guarantee and Lowest Hotel Rate ... Continue reading
Paying Bills is Getting Easier with Mastercard Bill Pay Exchange

Posted: October 17, 2018

MasterCard is looking to help consumers pay their bills more easily and quickly with Bill Pay Exchange, a new digital solution they are launching. The Bill Pay Exchange will let people manage and pay all sorts of monthly bills ranging from ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!