CreditLadder, Experian, Equifax and TransUnion believe that you should get credit for paying your rent on time and this allows you to enhance your credit position.
To ensure this happens, CreditLadder shares your rent payments with Experian, Equifax and TransUnion monthly (depending on which Credit Reference Agencies rent you have chosen to report rent to). Sharing your rental payment history will help companies to check your identity online, as it’s important for companies to know who their customers are. In addition, enhancing your credit position with on-time rent payments may help you to:
Open a bank account,
Get a new credit card,
Obtain finance, such as loans,
Get a mortgage.