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AOL: Rent payments could boost credit scores in a big way

AOL, July 19, 2021, Rent payments could boost credit scores in a big way

Millions of renters could get a big boost to their credit score if landlords reported their on-time rent payments, according to a new TransUnion analysis, which could help lower their borrowing costs.

“Home mortgage lenders don’t use Vantage score, or even a newer version of FICO in their home mortgage lending operations,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition, a big disadvantage for renters who want to make that leap to homeownership.

 

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