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Property Rent on Credit Report

I would like to now how to get my rent reported on my Credit Report. Is it worth it to make it look better? I've never missed a payment.
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Comments

  • No, not particularly.
  • nyermen
    nyermen Posts: 1,139 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Rent isn't a credit agreement and so wouldn't be expected to appear on a credit report unless you borrowed to pay it.
    Added note (as someone who has been previously involved in credit scoring models) - "scores" are unique to lenders normally (unless they buy a tacky cheap model from an agency), and are very varied - and none i've been involved with have been interested in such payments. They normally look at eg. negative history (eg. missed payments), general behaviour of credit facilities, and total debt numbers.
    Peter

    Debt free - finally finished paying off £20k + Interest.
  • SnowTiger
    SnowTiger Posts: 4,461 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    From a 2018 MSE article:
    Millions of tenants could see their credit score boosted as their rental payment information will now be included on their credit report.

    Private renters and social housing tenants can opt in to the free Rental Exchange Initiative which records your rental payments on your Experian credit file. The scheme's actually been running in the background (for those who've already signed up) for more than two years with 1.2 million renters' payments already recorded, but only now are those payments visible in people's files - and of course, this applies to any new joiners.

    [...]

    The Rental Exchange scheme was launched by credit reference agency Experian and The Big Issue Group in March 2016 as a way of allowing tenants to build up a credit history and ultimately improve their credit rating by paying their rent on time each month.

    More info here, here and here.
  • phillw
    phillw Posts: 5,665 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    It might help get a mortgage in the future. It's hard to predict.

    Can you think of any reason not to?
  • I bank with Starling and they have partnered with a company called CreditLadder that apparently now record your rent as part of your credit score. Just signed up with them for free so will see if it makes a difference
  • Sorry meant to say that my initial response was per @SnowTigers post
  • I bank with Starling and they have partnered with a company called CreditLadder that apparently now record your rent as part of your credit score. Just signed up with them for free so will see if it makes a difference

    Experian use The Rental Exchange, but landlords/HA's etc have to sign up to it
  • !!! wrote: »
    Experian use The Rental Exchange, but landlords/HA's etc have to sign up to it

    Will check them out . Thanks
  • So it can be as easy as opening an account with Starling and using that just for rent? I’ll give it a go then. Thanks.
  • So it can be as easy as opening an account with Starling and using that just for rent? I’ll give it a go then. Thanks.

    You don't even need a Starling account - you can do it with any current account.

    The join-up process is with Credit Ladder directly - Starling are merely marketing/advertising/promoing them via their app.
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