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Build Credit Paying Rent?
Build Credit Paying My Own Rent?
4 Answers
- SLv 61 decade ago
Establishing a history of paying rent on-time will definitely help if/when a prospective landlord contacts your previous (present) landlord.
It won't benefit your credit score. BUT, long-term residence (even in an apartment) IS something that creditors take into consideration.
Lenders (or creditors) generally make an evaluation on your "application for credit" using three criteria known as the "three Cs": Character: the measurement of your "willingness" to repay the debt (measured by your past credit experiences, length of employment, length of residence), etc.
- Genuine GuidanceLv 71 decade ago
Paying rent is not an extension of credit and does not get reported to the credit bureaus.
Only if you are evicted and sued by your landlord does this go on your credit history.
- LILLLv 71 decade ago
Rent is a payment for services rendered...and paid in advance. It is NOT considered credit.