How much will rent affect my credit score?
It is impossible to predict how much rental payment data will affect your score. Each persons situation is unuiqe and affected by many factors.
What we can share with you is that people with thin or no credit will see a bigger impact as they don’t have much data yet. People that have years of credit history would not see as proportional of an impact.
However, there are other factors to consider. The impact of $1,600 a month rent payment is obviously larger than a $600 rental payment.
When Experian announced they would include rental payment history they stated the following:
“Through the addition of rental data, one in three consumers falling in the lowest rung of Experian’s VantageScore credit scoring model (receiving a letter grade of an F and scoring between 501 and 600) will move up to at least the next level (with a D-grade and a score between 601 and 700), the agency said.” Source CNN Money
Being that we provide such a low cost option to report your data, we encourage you to register and give rent a chance. We also offer a satisfaction guarantee, so if we do not help you, tell us and we will give you the $10 bucks back.