Ask Terry Questions Rent payment on credit report?

Rent payment on credit report?

By Terry Savage on March 19, 2019 | Credit/Debt

I saw an ad for a company that claims if you make an arrangement with them where they pay your rent directly to your landlord each month (for $7.95 per) through your bank and report it each month to the credit bureaus who will reflect it on your report as a positive outcome and therefore gradually increase your credit score. Is this true? Would that work?

Terry Says

That’s not the best way to increase your credit score — and I wouldn’t trust this scheme!  Instead, take out a “secured card” — where you deposit an amount ranging from $500 to $2000 in a bank, and they issue you a regular Visa or MC.  Your credit limit is the amount of your deposit, so they are taking no risk issuing a card to someone with a low score.  Every month charge just a little bit on this card — and then pay it off ON TIME and in FULL.  That will do more to raise your credit score than anything else.    Here’s a link to find secured cards.

And check your score at for free.  Take a look at what’s impacting your score currently.  Paying down those balances will also make a big impact on your score.



a personal
finance question