Online Service Established for Renters Seeking to Improve Credit Report
According to the U.S. Census Bureau, there are around 100 million renters in America – and one particular online service going by the name of “RentReporters.com” claims to connect rental payments with the credit bureaus.
According to a press release by RentReporters.com, “the rent verification service securely and seamlessly verifies rental payment activity for individuals or groups of renters, and transmits the data for inclusion onto a consumer’s credit report.”
On the other hand, founder and current president of RentReporters.com Crispin Luna IV says that “RentReporters.com allows essentially every renter in the U.S. to take one step closer to homeownership and leverage their rental payments towards a better credit profile.”
RentReporters.com claims to report to the Payment Reporting Builds Credit (PRBC) agency as it is the only credit bureau that scores rental data on a regular basis with a FICO expansion score.
Experian – one of the leading credit information groups – has announced earlier this year that rent payment data will be treated as a traditional credit item on Experian’s credit report.
Luna, however, is confident that other major groups will soon come to accept rent payment data as well. “There is no doubt that in the near future Equifax and TransUnion will soon announce the inclusion of rent on their traditional databases,” says Luna.
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