Rental history may soon influence credit scores | Chappaqua Real Estate

Landlords aren’t required to report to the three most popular credit bureaus, Equifax, Experian and TransUnion, so years of on-time rental payments don’t necessarily influence first-time homebuyers’ all-important credit scores when they apply for a mortgage, syndicated columnist Ken Harney wrote for The Columbus Dispatch.

But that’s changing, Harney writes. Experian and TransUnion are beginning to include rental-payment histories into credit files and will use them to calculate credit scores, he notes.
Harney also points out there are alternative credit reporting services available to first-time homebuyers, such as ECredable.com, that incorporate payment history information that isn’t reported to the major credit bureaus, such as phone and cable payments


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