New websites have sprung up to help consumers verify rental payments to be used on consumer credit reports
, MSN Money reports.
Earlier this year, Main Street reported that Experian - one of the three main credit-score agencies - decided to provide a credit score boost for renters who make regular, on-time payments. The company noted that approximately one-third of the U.S population either plans to or already rents a house or apartment, and they're "not getting the 'credit' they deserve." According to MSN, websites such as Williampaid.com and RentReporters.com have emerged to help consumers take advantage of being prudent rent-payers. Williampaid is a site that automatically pays rent, deducting it from a person's bank account for a small fee. For an additional charge, it will report the rental payment to FICO, the top credit monitoring firm. RentReporters verifies rental payments and transfers the information to consumer credit report
companies to help renters improve their scores. "Having been where many of our customers are now, I know firsthand the economic circumstances that can result in a poor credit score," says Crispin Luna IV, founder and president of RentReporters, as quoted by MSN Money. Luna expects the two other credit score authorities - TransUnion and Equifax - to begin including rental payments in their score analysis in the near future.