Created: 08/11/2014 8:46 AM WHEC.com
Your rental payment history will now become part of your credit profile.
Experian and TransUnion have started to incorporate verified rental payment data into credit files where it can be included in the calculation of a consumer's credit score. That's good news for long time renters with a stellar record of rental payments especially when applying for a mortgage loan.
The two credit agencies are partnering with "RentTrack", a nationwide service that enables renters to pay online and have their payments included on their credit reports.
Transunion is also introducing a "ResidentCredit" service that encourages rental properties to report monthly payment information.