News

Rental Payment Histories May Count in Credit Scores

Renters who have never been late with a rent payment will find that their stellar record wont do anything to lift their credit scores when it comes time to shop for a mortgage. But that may soon change: Two of the main credit reporting agencies, Experian and TransUnion, reportedly are starting to incorporate verified rental payment data into credit files and using it to compute the consumers’ credit scores when they apply for a mortgage.

Source: “Credit Scores Might Soon Reflect Rental Payments,” The Columbus Dispatch (June 29, 2014)