Reporting your rent payments through CreditLadder will have a positive impact on Equifax and TransUnion credit scores for the vast majority of users. The rent payment information will also appear on your Experian credit report. Whether your rent reporting appears on the files of one Credit Reference Agency (CRA) or all 3 is dependent on who you've chosen to report your rent payments to.

How much your credit score improves by on Equifax and TransUnion is dependant on a number of factors:

  • A tenant with a thin file is likely to see a very strong improvement in their credit score when they report on-time rent payments

  • If you have negative payment information on your credit file (i.e. a missed payment), rent reporting through CreditLadder is also very likely to improve your credit score

  • If you have lots of positive credit data on your file already, rent reporting is still likely to have a positive impact on your score but will have less of an impact versus someone who has a thin file.

With Experian, the rent reporting data appears on your Experian credit report where, importantly, every lender will be able to see it - this is also the same if your rent is reported to Equifax and TransUnion respectively. However, with Experian, it doesn't currently go into the Experian credit score you might see.

A number of factors impact your credit score which is why the CRAs, and therefore CreditLadder are unable to give an exact figure on how much a credit score will change by when rent reporting as this will vary by individual. If you miss a rent payment then this could have a negative impact on your credit position. Ultimately, by rent reporting, you can have a strong positive impact on your credit position and credit score - lenders will also be able to see rent payments as a separate line item on your credit report.

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