Hi, I need some help and advice here. I have lousy credit under 600 and want to raise it so that I can qualify for financing in the future (car, new home) and am currently renting a room in a house. Is it possible to have my landlord/housemate report my rent payments to the credit bureaus in order to get my score up, and if so, how can it be done? Many thanks for your help in advance!
Yes, it is possible, though rent payments may not be included in every scoring model. So depending on what you need credit for, the lender may or may not use a score that includes your rent payment history. Take a look at this page from Experian: http://www.experian.com/rentbureau/rental-payment.html
Essentially, they say to have you and your landlord sign up at a site like RentTrack or PayYourRent. These companies allow you to set up electronic rent payments, but then also report those payments to the credit bureaus.
However, there may be fees involved, so be sure to shop around for the best option.
Edit: It also might be worth taking a look at Rental Kharma – https://rentalkharma.com
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