Paying Rent Counts Toward Your Credit Score, Too

published 1 May 2011

For years, paying off credit cards and loans has been the main way to build credit. With Experian's purchase of RentBureau, a credit bureau for multifamily housing, paying apartment rent will count, too. The object is to help, so only positive histories count. But if you already have lots of debt, listing rent could raise a red flag. Lease obligations are looked at in the same way as an installment loan -- $1,000 a month for a year is regarded as a $12,000 debt. The information will be part of your VantageScore, from Experian, but not the more common FICO score.

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Anderson has been with Kiplinger since January 2004, when she joined the staff as a reporter. Since then, she's covered the gamut of personal finance issues—from mortgages and credit to spending wisely—and she heads up Kiplinger's annual automotive rankings. She holds a BA in journalism and mass communication from the University of North Carolina at Chapel Hill. She was the 2012 president of the Washington Automotive Press Association and serves on its board of directors. In 2014, she was selected for the North American Car and Truck Of the Year jury. The awards, presented at the Detroit Auto Show, have come to be regarded as the most prestigious of their kind in the U.S. because they involve no commercial tie-ins. The jury is composed of nationally recognized journalists from across the U.S. and Canada, who are selected on the basis of audience reach, experience, expertise, product knowledge, and reputation in the automotive community.