Which credit bureau are my on-time rent payments reported to?
We report your on-time rent payments to TransUnion, Experian, and Equifax. TransUnion is the same company that does credit & background screening for new tenants on RentRedi. They use the information to increase your FICO credit score. You can learn more about TransUnion's ResidentCredit program here.
Why should I report my on-time rent payments to TransUnion, Equifax, and Experian?
Typically, credit bureaus use credit cards and loan payments (such as student or home loans) to assess credit scores.
However, with RentRedi, you can now report your on-time rent payments to credit bureaus as well!
With rent being a large monthly payment, you can increase your credit score with rent payments you're already making!
Additionally, a high credit score can mean access to lower interest rates for car, home & other loans, waived or reduced deposits to open utility or cell phone accounts, increased credit limits, and overall positions you as a more attractive tenant.
How soon will I see a boost in my credit score?
Payments are reported to the credit bureau every week. Once your rent is reported to TransUnion, it typically takes 5-30 days to show on your credit history!
How do I start reporting rent?
From your RentRedi app, tap the Rent icon.
On the Rent page, tap Get Credit Boost.
Select your preferred plan: (Report Entire Lease, 3-Month Report, or Monthly Report)
Tap Boost Credit Now.
Choose whether you'd like to report past rent payments:
Tap Add Past Payments, or
Tap Continue Without Past Payments.
Enter your payment method.
Tap Pay.
What is the cost of reporting my rent payments to TransUnion, Equifax, and Experian?
For current tenants, there are 3 options. Regardless of the option you select, TransUnion recommends reporting 12 months of payments to make the most impact on your FICO credit score.
Note: Experian only records the current month, and Experian will not report prior rent payment history.
Entire Lease
You can report on-time payments for your entire lease at once. This includes all future payments & the option to add all past payments made through RentRedi for the price of $3.99/month.
The cost for reporting an entire lease at once can be up to a one-time payment of up to $47.88 (for reporting 12 months) to increase your credit score by up to 26 points.
3-Months
You can choose to report your on-time payments every 3-months, costing $4.99/month. The cost for reporting 3 months of rent payments is $14.97.
Monthly
The most flexible option is that you can choose to report your on-time payments every month. This pay-as-you-go option costs a recurring $5.99/month.
You’ll also find pricing for each plan directly in the RentRedi app. The pricing page will display a clear breakdown of the available Credit Boosting options and associated costs for your review.
How do I turn off/stop reporting my rent payments to TransUnion, Equifax, and Experian?
You can unenroll or stop your rent reporting right from your account. Check out the steps in this Help Article.
Can I build my credit history with RentRedi?
Yes! RentRedi allows you to report your on-time rent payments to TransUnion, Experian, and Equifax to help build your credit score.
As long as you're a tenant using the RentRedi app, you can report all rent payments made through the platform.
Can payments made outside of RentRedi be reported? (Check, money order, etc.)
Currently, only on-time rent payments made through RentRedi can be reported to credit bureaus (TransUnion, Experian, and Equifax). Payments made through other methods (e.g., check, money order) aren’t supported for credit reporting at this time.
How does rent reporting work?
After you’ve started reporting rent, RentRedi will share all on-time rent payments through our secure connection with TransUnion. TransUnion uses the information to adjust & update your FICO credit score. Additionally, on-time rent payments will also be reported to Experian & Equifax.
I already have great credit. Do I need rent reporting?
If increasing your credit score by up to 26 points can make a difference in your tier of credit scores, this is a great option for you. You can see the tiers here.
Can I report my rent if I'm on a month-to-month lease?
Yes! Tenants can still enroll for credit boosting if they are on a month-to-month lease. Tenants can enroll in the Monthly reporting plan for $5.99/month.
Note: For month-to-month leases, any charges paid before the lease start date cannot be back-reported.
Key Facts:
TransUnion does request 12 months of on-time rent payments to make the most impact on a credit score
After a year of reporting rent, tenants can see up to a 26-point increase in their credit score
60% of tenants report a boost in credit score in the first month of reporting rent
You can pull your credit report from: Annualcreditreport.com
Need Help?💬
Contact us! RentRedi Chat Support is available 24/7! Access our Live Chat via the chat bubble in the bottom right corner of the RentRedi dashboard.