A good credit score can help you receive approval for loans with low interest rates, get the best cell phone plan, have utilities in your name, and rent that better home. On the other hand, having a low credit score can make it difficult to get what you need in life.
So, if you want to improve your credit score, first, you need to know what you can do yourself and how verified third parties, like rent reporting companies, can help you get there.
What You Can Do:
There are a number of steps you can take to proactively improve your credit score including:
- Pay your bills on time
- Keep your credit utilization rate below 30%
- Review your credit reports and dispute errors
- Piggyback on someone else’s good credit – like parents or spouse
- Get a secured credit card
What Rent Reporting Companies Can Do:
Rent reporting companies can verify your rent payments with a landlord or property owner and report payments to the credit bureaus. With this reporting, a new tradeline appears on your credit report.
RentReporters is helping renters build and improve their credit scores by reporting their on time rent payments to TransUnion.
For more information on RentReporters, visit here.