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 generally see rent reporting come to reports 30 to 45 days after the date first reported. This, however unlikely, can take up to 60 days. Sometimes clients are able to see rent reporting early on credit karma, but it is not a guarantee.
The account will be named PaymentReport, LLC.
While it is very difficult to say how much your score will go up; we generally see an average increase of 30 points. This will be dependent on the history, payment amount, and state of your credit at the time of reporting and widely varies between individuals.
Yes, you do have to get your rent verified by your landlord/property manager in order to report your rent to the credit bureaus. It is required.
Because of the way Can Rent Build Credit reports to the bureaus they are required to have an email for your landlord that is different from your own. Unfortunately there is no way around this.
That’s fantastic! We report on the 22nd of every month so your rent will be reported on the 22nd. However, if the verification is done after the 17th of the month it will be reported on the 22nd of the following month.
We report to TransUnion and Equifax.
Unfortunately we are unable to report hotel/motel dwellings.
On a month to month lease we still have to have a lease end date that is in the future. We recommend using the date that you are planning on being out of the property or 12 months in the future.
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?