Rent Reporting Partnership
Want to quickly boost your credit score? With our partners at Can Rent Build Credit, we'll help you add a positive credit account AND up to two years of credit history.
Our Rent Reporting Partnership gives you
Increase credit score
by adding a new positive credit account to your credit reports
Instantly add credit history
by back reporting up to 2 years of your rental payments
No additional cost
when you sign up for our CIG Platinum Services
Rent reporting statistics
The amount spent on rent accounts for nearly 30% of the typical U.S. household income.
1 of every 3 U.S. households is renting their home.
3 in 5 Americans are unaware that credit scores can affect their ability to rent.
The Rent Reporting Process
Provide you rental information
While you may have been paying your rent responsibly and on time, this is not always reflected on your credit. The first step is to fill out a quick form to help us understand how long you've been renting, what your lease term looks like and how we can contact your landlord or property manager.
Verification of rent
We will have you send your landlord a link where they can verify the information that you have given us as well as your timely monthly payments.
Report rent to credit bureau's
Once verified, we will add your rental history to your credit reports through our partners at Can Rent Build Credit. This will provide another positive line of credit to your profile which can significantly boost your credit.
Watch your credit score increase
Now that your rental history has been reported, each month your rent payments will be confirmed with your landlord and be reported by our partners at Can Rent Build Credit.
CIG Platinum Status
We understand that rent reporting services can be expensive, which is why we cover your rent reporting costs as long as you're a CIG Platinum member.
With Rent Reporting you'll
Add A Positive Line of Credit
Improve Your Credit History
Boost Your Credit Scores
Prove Housing Payment History
We work closely with a partner that will be reaching out to your landlord(s) to confirm your history of on-time payments within the last two years. Once this has been completed we reach out to two major credit bureaus to add the rental tradeline to your credit report. Every month as you make your payments, your reporting will be updated to the bureaus.
Rent reporting will appear as a positive credit account on your credit report. Look for an account named "eRent Payments." The monthly payment amount should be your monthly rent payment. This account will be an installment account, which is one of the more powerful types of accounts to build your credit.
While we cannot predict the exact score increase, at CIG our clients have experienced an average increase of 30 points. Rent is treated like a lease on credit, the same way a car lease would be reported (which is simply an agreement to pay). This credit increase shows on all Vantage Score models and some FICO Score models.
Can Rent Build Credit reports rent every month, and it can take up to 30 days after that for the bureaus to add it to your reports. Within 60 days of your landlord verifying your rental information you should see the account reflected on your TransUnion and Equifax reports. If you do not see the account, contact your credit specialist. Remember, we cannot guarantee an exact timeline.
Your landlord will verify all of the rental history that you originally provide with their signature and date. They will also verify monthly that you have made your rental payments. If they do not verify a monthly payment has been made, we will report no data to the credit bureaus.
See how we can help you
improve your credit
Having good credit opens the door to achieving our financial dreams. We help our members develop a strong credit profile so that they can do just that. What are you waiting for?