Experian Adds Rent Payments To Credit Reports

COSTA MESA (AP) — The Experian consumer credit reporting firm has added rent payment histories to its reports.

Costa Mesa, Calif.-based Experian recently acquired RentBureau and is including rental payment data into its traditional credit file. It makes it easier for college students, recent graduates and immigrants who pay their rent on time to boost their credit scores.

Credit reports have previously included credit card, mortgage, loan and finance company account information.

The Los Angeles Times says the RentBureau database receives rental payment histories daily from a limited number of property managers. It’s records include about eight million of the nation’s nearly 38 million rental units.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. Dennis Schmidt says:

    more control of the people

  2. DAN says:

    WHAT CONTROL…….JUST PAY YOUR RENT ON TIME.

  3. Howiet_Sol says:

    This can be a good action for consumers with thin credit files or limited credit history. Most people pay rent or mortgage. Why shouldn’t rent payments help build credit, unless of course, rent payments are not timely, then that could be an issue.

  4. Kristina Woods says:

    This is actually a useful feature. The site I use http://www.tenantverification.com/ has had pay history for a while though it is separate from credit. Sometimes credit gets messed up because of things that aren’t in a persons control. You lose your job and miss some payments while your out of work or rack up a hospital bill. With this to help people boost their credit, people who have seen bad times might be able to get back on their feet.

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