How Does TrustedRentr Help Increase Your Credit Score?

If you’re a tenant that has been paying rent for years, or maybe you’re a new renter, you should be getting your rent payments submitted to the credit bureaus. Doing this can significantly increase your credit score over your time renting and save you thousands, if not tens of thousands, in interest on a mortgage or other loans in the future.

How does TrustedRenter do this? When you pay rent over our platform that information is logged and sent over to the credit bureaus, at this time that is TransUnion but we will be working with the two other major bureaus in the future. To get the benefit of the credit increase you need to be paying rent to your landlord through TrustedRentr so that we can verify the payment was made.

If your landlord is not on the platform yet you can invite them to join and let them know that you want the benefit of increasing your credit score while you’re paying rent. They may even want to help out their other tenants as well!

The credit increase may not show up immediately. The complicated way that the bureau factors in all of the different information means that it may take a few months to start showing an increase on your score. If you have no credit history it may show up sooner than someone with damaged credit.

It is imortant to start building your credit early because a longer credit history has a big impact on your credit score. Many people take out credit cards to do this, but that can lead to debt accumulation and harms many people in the process of building credit. You are most likely already paying rent, so why not see the benefits to your future by having those payments work for you in a more significant way?

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