Consumers are discouraged. High unemployment, an uncertain economy, limited wage growth and a stubbornly dismal housing market have all collaborated to rack Americans' confidence.
While individual finances may be improving, as default rates and credit card balances decline, it's still been a challenge to not only improve one's credit score, but to even view it. Recently, a number of services have begun popping up that offer to report rent payment history to the credit bureaus for a fee. Bureau reporting
on timely and consistent rent payments could lead to higher credit scores. Consumers and financial institutions alike agree that rental payments, if counted, can be a helpful way to boost credit scores, as such rating are often tainted by credit card and mortgage dues. "Having been where many of our customers are now, I know first-hand the economic circumstances that can result in a poor credit score," Crispin Luna, founder and president of RentReporters, told MSN Money. "We allow essentially every renter in the U.S. to take one step closer to homeownership and leverage their rental payments towards a better credit profile."