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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
Have been on both sides of the fence. Have been a tenant and a landlord.
Scott Matteson@matteson66
#WBChat#Credit4Rent
I rented for eight years before purchasing our current home.
Paul Moyer@SavingFreak
#WBChat#Credit4Rent
Did you know there are over 110 million renters in the U.S?
Experian@Experian_US
#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
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
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
Experian@Experian_US
First time home buyers rent for six years before buying a home.
#WBChat#Credit4Rent
Paul Moyer@SavingFreak
It will vary greatly by where you live. In areas where housing is less
expensive, buying makes more sense.
#WBChat#Credit4Rent
jonlovesstacy@jonlovesstacy
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
jonlovesstacy@jonlovesstacy
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
Paul Moyer@SavingFreak
It depends on the landlord and whether they report to the credit bureaus. Just
like some utilities are reported.
#WBChat#Credit4Rent
Scott Matteson@matteson66
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
Rebecca Lock@alady3lads
It depends if it is through a management company that reports or
not, but usually no.
#WBChat#Credit4Rent
Credit Info Center@creditinfocentr
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@Experian_US
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
Experian@Experian_US
We did this to empower Americans to build their credit history through rent
payments!
#WBChat#Credit4Rent
Leslie H. Tayne, Esq@LeslieHTayneEsq
Depends on whether or not your landlord reports your payments or not!
#WBChat#Credit4Rent
Experian@Experian_US
In the past, only negative rental collections information was on credit
reports.
#WBChat#Credit4Rent
Leslie H. Tayne, Esq@LeslieHTayneEsq
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
Experian@Experian_US
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
Experian@Experian_US
On-time rental payments help consumers build credit history.
#WBChat#Credit4Rent
Kristen Schwarz@kkschwarz2009
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
CARE@care4yourfuture
Yes, because it shows you’re a reliable tenant, can make big payments, and
increase your credit score.
#WBChat#Credit4Rent
Rebecca Lock@alady3lads
Yes, showing you’ve consistently made on-time payments over a long period
of time builds credit history.
#WBChat#Credit4Rent
Leslie H. Tayne, Esq@LeslieHTayneEsq
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
Credit Info Center@creditinfocentr
Your landlord can sign up for RentTrack and opt in to RentBureau,
which reports to Experian.
#WBChat#Credit4Rent
Credit Info Center@creditinfocentr
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
Scott Matteson@matteson66
Yes, renters should be able to, but late payments should also cause a negative
like homeowners.
#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
Experian@Experian_US
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
CARE@care4yourfuture
Yes, if they know they can consistently pay their rent on time. Remember the consequences if you don’t pay on time.
#WBChat#Credit4Rent
jonlovesstacy@jonlovesstacy
Absolutely, and it is something that is long overdue.
#WBChat#Credit4Rent
Leslie H. Tayne, Esq@LeslieHTayneEsq
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
Experian@Experian_US
There are over 100 million renters who deserve to get credit for their rent
payments.
#WBChat#Credit4Rent
Rebecca Lock@alady3lads
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
Leslie H. Tayne, Esq@LeslieHTayneEsq
Making rent payments on time and in full is something that is commendable. If you do well, it should be reflected.
#WBChat#Credit4Rent
Alicia S.@NinjaMomAllie
Absolutely! It shows to potential lenders they are capable of paying rent
or a mortgage.
#WBChat#Credit4Rent
Paul Moyer@SavingFreak
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
Krystie Vines@MrsKrystie
I think so! They are responsible enough to keep their apartment just
like homeowners do homes!
#WBChat#Credit4Rent
Melanie Pridgen@lnghairedgrl
Should be! It’s a huge responsibility and part of one’s monthly income. Shows a lot if payments are timely.
#WBChat#Credit4Rent
Credit Info Center@creditinfocentr
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
Mortgages Dot Com@WeAreMortgages
Absolutely! An on-time payment is an on-time payment.
#WBChat#Credit4Rent
Experian@Experian_US
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
Experian@Experian_US
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
Shirley DuBose@MzShirleyD
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
Paul Moyer@SavingFreak
Any type of recurring on-time payment should help people’s credit. We need to
reward people for being responsible.
#WBChat#Credit4Rent
jonlovesstacy@jonlovesstacy
To build credit history for the renter, and show creditworthiness and risk.
#WBChat#Credit4Rent
Kristen Schwarz@kkschwarz2009
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
Rebecca Lock@alady3lads
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
CARE@care4yourfuture
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
Experian@Experian_US
Responsible renters can build credit history from on-time rental payments.
#WBChat#Credit4Rent
Experian@Experian_US
Having rent payments reported to credit bureaus can benefit landlords too!
#WBChat#Credit4Rent
CARE@care4yourfuture
You show responsibility by paying your rent on time. It is also great for
younger people to build their credit.
#WBChat#Credit4Rent
Melanie Pridgen@lnghairedgrl
It shows responsibility to make payments on time. Young renters may
not have credit cards to help build credit.
#WBChat#Credit4Rent
Credit Info Center@creditinfocentr
Credit scores are indicators of creditworthiness (i.e. financial responsibility). On-time rent
payments qualify.
#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
Alicia S.@NinjaMomAllie
Ask the property management company if they report rental payment
info to Experian RentBureau.
#WBChat#Credit4Rent
Paul Moyer@SavingFreak
You will have to push the landlord or property manager. Doubtful they are going to seek this out on their own.
#WBChat#Credit4Rent
CARE@care4yourfuture
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
Experian@Experian_US
Rent from a landlord who reports rent payments to Experian RentBureau!
#WBChat#Credit4Rent
Mortgages Dot Com@WeAreMortgages
Use one of the rent payment service providers mentioned here.
#WBChat#Credit4Rent
Experian@Experian_US
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
Olivia@yoda1librarian
Carlton Banks! Fresh Prince of Bel-Air! Neat and will pay on time!
#WBChat#Credit4Rent
Scott Matteson@matteson66
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
CARE@care4yourfuture
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