A few years ago I rented an apartment for a year back in '02 and paid on time. I was listening to some of those financial guru shows like Dave Ramsey and they say that your on time rent should be adaqute for credit score build up. Why wouldn't it show up?
2007-02-20 15:47:16 · 8 answers · asked by Jeff K 2 in Business & Finance ➔ Credit
Hi, Jeff-
Years ago, rental history and many other things could be placed on your credit report, so long as that party reported your good payment history to the credit report agency (Equifax, Experian, and TransUnion). These days, rental history is not considered a "creditory relationship" and hence is not reported to any credit agency. It is frustrating though, because if you did not pay on time they would definitely find a way to damage your credit by reporting you to a collection agency. If you need a credit reference, call the apartment office and ask them for a letter of credit that vouches for your past rental experience with them. They are usually happy to oblige. As for adding it to your credit report, that is just not done anymore.
2007-02-20 15:55:21 · answer #1 · answered by James C 3 · 16⤊ 2⤋
It is not rent that builds up your credit score, it is accruing time living in that one place which builds your credit score, because you are then seen as a stable person and less of a credit risk.
Are you trying to rent an apartment now? Many leasing companies will not consider rental history older than two years, so it is your present living situation that counts the most.
2007-02-20 15:53:53 · answer #2 · answered by just a quiet person 2 · 2⤊ 0⤋
Its considered a form of secondary credit, as opposed to primary such as credit cards and such. Bills for electric and gas and such are secondary too, and if you don't have deep established primary credit, comapnies will look at your secondary to get an idea of your finacial habits. Credit reports only list things tied to your social security number (primary), not monthly bills that are, for the most part, local (secondary).
2007-02-20 15:53:29 · answer #3 · answered by Tucson Hooligan 4 · 3⤊ 0⤋
Most landlords don't report to the credit bureaus like banks and creditors do. You would have to ask for a rent history from the landlord in question.
2007-02-20 15:51:04 · answer #4 · answered by Omni D 5 · 1⤊ 1⤋
Sorry, not sure about this
2016-07-28 08:51:57 · answer #5 · answered by ? 3 · 0⤊ 0⤋
Because it is not considered debt, it's a totally different thing!
2007-02-20 15:50:19 · answer #6 · answered by Bill P 2 · 2⤊ 5⤋
Not credit..
2007-02-20 16:07:05 · answer #7 · answered by cork 7 · 0⤊ 6⤋
thanks to each and everyone of you for the replies.
2016-09-19 11:27:01 · answer #8 · answered by ? 4 · 0⤊ 0⤋