Last year, Experian started including rental payment histories in its credit reports and scores when it acquired RentBureau, a credit bureau that receives rental payment histories from apartment owners and managers. It was a great way for renters in the RentBureau database who made on-time payments to improve their credit score (see A New Way to Improve Your Credit). That database includes only a fraction of the nation's nearly 100 million renters, though.
DOWNLOAD: The Kip Tips iPad App
To extend this opportunity to more renters, Experian announced May 16 that it is collaborating with ClearNow, which allows landlords and property managers to collect rent through automatic bank account debit. Renters who pay rent through ClearNow will be able to opt in to reporting their payment history to Experian RentBureau.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
RentBureau collects data primarily from large property management companies. Now, with Experian's collaboration with ClearNow, renters of any size or type of residential property can report their rental payments to the credit bureau. ClearnNow has been serving thousands of landlords and property managers since 2000. If your landlord does not use ClearNow, you might want to suggest that he or she look into it.
Get 100 of our top money-saving tips by downloading the new iPad app or purchasing the PDF version.
-
Take Charge of Retirement Spending With This Simple StrategyTo make sure you're in control of retirement spending, rather than the other way around, allocate funds to just three purposes: income, protection and legacy.
-
Here's How To Get Organized And Work For YourselfWhether you’re looking for a side gig or planning to start your own business, it has never been easier to strike out on your own. Here is our guide to navigating working for yourself.
-
Five Ways to Save on Vacation Rental PropertiesTravel Use these strategies to pay less for an apartment, condo or house when you travel.
-
How to Avoid Annoying Hotel Fees: Per Person, Parking and MoreTravel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
-
How to Appeal an Unexpected Medical Billhealth insurance You may receive a bill because your insurance company denied a claim—but that doesn’t mean you have to pay it.
-
Amazon Prime Fees Are Rising. Here’s How to Cancel Your Amazon Prime MembershipAmazon Prime Amazon Prime will soon cost $139 a year, $180 for those who pay monthly. If you’re a subscriber, maybe it’s time to rethink your relationship. Here’s a step-by-step guide to canceling Prime.
-
How to Haggle for Almost AnythingSmart Buying Learning how to haggle is an invaluable skill. These strategies will help you negotiate a better price for just about any product or service.
-
Disability Insurance Can Provide COVID CoverageCoronavirus and Your Money If you are concerned about long-term complications from COVID-19, consider disability insurance coverage.
-
21 Things You Can't Return to Amazon — Either Online or In-StoreDid you know there are things you can't return to Amazon? Before tossing these items into your shopping cart, be sure to read Amazon's return policy first.
-
How to Avoid a Charity Scampersonal finance Scammers never quit, even when you're trying to be altruistic. But you can avoid getting duped if you do your homework.
