Does paying rent build credit?

Does Paying Rent Build Credit?

The Answer is... Yes & No

does paying rent build credit

Does paying rent build credit?

  • The answer is pretty simple, “yes it can” build credit for you. 
  • The longer answer is “no it doesn’t” for the majority of the renting population. 

Your rental payments never benefit your credit if they are NOT reported to the credit bureaus. In fact, for over a hundred years that the credit bureaus have been in existence, there was no way to get better credit by paying your rent on a monthly basis. 

That all changed with the bureaus about 10 years ago. So now, the credit bureaus (Experian, Equifax, & TransUnion) can take your positive payment history and have it reported to the national credit bureaus. By doing so, it will help build you a stronger credit profile and raise your credit score. 

Why am I not seeing my monthly rent payments on my credit report?

  • The reason that you’re not seeing this consistently being reported on your behalf to your credit bureaus is… For a landlord to report your rental history, they have to have at least a thousand units/apartments to be able to report your data to the credit bureaus. 

That obviously excludes any small property owners who only own one or two rental properties. This also excludes very large apartments that may have 300 or 400 units. 

They just don’t have enough tenets to report that data to the credit bureaus on their own. 

How do you fix it and get your rental history reported to the credit bureaus?

  • We can help you, here at CanRentBuildCredit

We’ve pulled all of these renters together, to have way more than a thousand renters. In fact, we report thousands upon thousands of apartments/tenets on a monthly basis. So that you the “consumer” or “the renter” can help see the benefits of paying your rent on time, while building your credit. 

So why would you want to do this? 

Well, there are a couple of reasons and it’s pretty simple. 

  • Your monthly payments make up about 35% of your credit score. So, each month that you’re making your payments, your credit scores are increasing a little bit. 
  • Your actual rental history makes up another 15% of your credit. We’re able to go back as far as TWO YEARS and SUPERCHARGE your credit by reporting all of those positive payment history. So you can now get the credit that you’ve been paying for each and every month. By doing so, we see an average increase of somewhere between 30 and 40 points in the first 90 days that we work with the customer. Sometimes we’ll see a whole lot more, sometimes it’ll be a little less. Every month as you’re paying your bills, you’re going to start reaping the benefit of having a better credit score. 

Is 30 or 40 more credit points a big deal?

  • It can change your negotiating power on your next purchase or lease.

Think about this… if you’ve got someone who’s has a 610 credit score, that’s not strong enough to go buy a house. In fact, to just buy a car, you would get a really high interest rate, with really high monthly payments. However, if your score went up 40 points and now you’re at a 650, you can buy that dream home you’ve been looking. Additionally, you could go buy that car, at a really good interest rate and with low monthly payments.

We would love to help you see your rent payments reported to the credit bureaus and have a better credit score

If you’ve got any questions, please ask them… We’re here to answer them, and we’re here to help you.

1. You Sign Up has only 3 quick questions.

  1. To get your information
  2. To get your landlord’s information for your payment history
  3. To choose which product you want to purchase.

2. We Verify Your Information starts by confirming the information you provided on your landlord / property manager through independent data research to make sure it is complete and accurate.

We then verify the information you provided on your application with the landlord /property management company to make sure it is accurate. Once we establish a connection with your Landlord, we then invite them to link their account to our bank level bill payment system.

If for any reason is unable to verify your rent or your landlord will not except ACH direct payments, we will promptly give you 100% refund. 

3. CRBC Verifies Payments & Reports Credit

After your account is established with, you will pay your rent through our online portal.  Once the funds have been received, we will verify that the funds meet or exceed the amount due for your monthly rent.  Then, we report (on the 21st of every month) to all three of the national credit bureaus: Experian, Equifax, and TransUnion. This can show on your credit report in as little as 7 days.  

Note: Processing payments through our system can take up to 5 days.  We suggest that all renters make payments a minimum of 5 days before the past due date.