How Paying Rent Can Boost Your Credit Score

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  • If you and your landlord have enrolled with a rent-reporting service, your rental payments will be reported to credit bureaus and may help increase your credit score.
  • Experian Boost and Piñata are free programs that report your rent payments to Experian and TransUnion respectively.
  • Piñata states that its users have been able to raise their credit score by up to 60 points.

These free programs can improve your credit score.

You've probably heard that one of the best ways to boost your credit score is by paying your bills on time. Your payment history is the single most important factor in determining your credit score. In fact, it makes up 35% of your FICO® Score, which is the most widely used credit scoring model. The most common bills that count toward your credit score are credit cards, car loans, and mortgages. But did you know that paying rent can actually help improve your credit score, too? Here's how.

Experian Boost

Experian, one of the three credit bureaus, launched a program called Experian Boost in 2019. It can give you credit for making payments for your phone bills, utilities, and certain streaming services. Starting in September 2022, Experian added rent payments to Boost.

To get credit for your rent payments, you connect the bank account you use to pay your rent to Experian Boost. Your rent payments must be for more than the qualifying amount and be made through a rent payment platform or to eligible landlords or property managers online. The service is free and to get started, you can add this service to your Experian account under Reports and Scores.

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Multifamily Positive Rent Payment Reporting pilot program

Fannie Mae also launched in September a pilot program where "eligible multifamily property owners can share timely rent payment data through a vendor network to the three major credit bureaus for incorporation in the renter's credit profile." Through this program, Fannie Mae is focused on helping particularly disproportionately represented groups gain equitable access to credit.

Currently, Esusu Financial, Inc., Jetty Credit, and Rent Dynamics are approved vendors with the program. Fannie Mae is hoping the pilot program will expand so more companies in the multifamily industry report rent payments to the credit bureaus.


Piñata is a free iOS and Android app that is a reward and credit building program for renters. The app lets you earn rewards for paying your rent. According to Piñata, its rent reporting tool, Credit Engine, can also help raise your credit score by up to 60 points.

All you need to do is verify that you paid your rent by connecting your bank account. Piñata will then send your verified rent payments to TransUnion, one of the three major credit bureaus. Your membership also gives you access to Piñata cash and other deals offered by the app.

These are just some of the rent-reporting services that you can use to help boost your score. There are different services that you can ask your landlord to consider if they aren't affiliated with one. If you and your landlord have enrolled with a rent-reporting service, your rental payments will be reported to credit bureaus and may increase your credit score. So, if you're looking for a way to give your credit score a quick and easy boost, paying your rent on time is a great place to start.

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