Numbers can drive you nuts. Some folks don't like the digits that reveal their ages, others get frustrated by the ones that make up their bank balances. Some parents can't figure out the "new math," and some of us are still a little shaky on the old math. But one number nearly everyone would agree they'd like to raise is their credit score
In these times when credit
is still tight, money is short, and jobs
are hard to come by, the benchmark of your credit score
carries more weight than ever.
In a sense, your credit score is a crystal ball that's meant to reveal your character, and building a credit
history is key to making that picture clear. Traditionally, that meant taking on debt that you could then pay off, like a mortgage
, car loan or credit cards. But in terms of your credit history, paying your rent
on time meant nothing.
Now, there's an option for the nation's more than 100 million renters
-- the newly launched RentReporters.com, which verifies your rent
payments with your landlord and securely provides the information to Payment Reporting Builds Credit, which then can be included in a FICO Expansion Score.
Experian announced earlier this year that it would accept rent payment data as a traditional credit item on its national credit reports.
"Having been where many of our customers are now, I know firsthand the economic circumstances that can result in a poor credit score," said Crispin Luna IV, founder and president of RentReporters.com, in a prepared statement. "RentReporters.com allows essentially every renter
in the U.S. to take one step closer to homeownership and leverage their rental payments towards a better credit profile."
Read the full story on DailyFinance.
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