Thursday, February 24, 2011

Rental History now on Experian

This is for the investors that read this blog.
Renters who need to build their credit histories are getting a leg up from a major consumer credit-reporting firm.
Experian is incorporating rental payment data from its recently acquired RentBureau unit into its traditional credit file, which the company says will make it easier for college students, recent graduates and immigrants who pay their rent on time to boost their credit scores.
Typically, credit reports include payment history on credit cards, mortgages, installment loans and retail and finance company accounts.
Experian's move is well-timed, as the U.S. homeownership rate is at its lowest level since 1998. It was 66.5% in the fourth quarter, according to the U.S. Census Bureau.
Read it all

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