You might not realize it, but your credit score can have a major impact on your quality of life, including where you live, where you work, and more. In today’s society, a good credit score is crucial to living a comfortable life.
Are you looking for an easy way to improve your credit score? Paying rent online is an easy solution! Here is everything you need to know about paying rent online and getting it counted toward your credit score.
If you are paying your rent with a check or going into the office, the first step is to start paying rent online. At Crestwood Apartment Homes, we make this easy for our residents through our online resident portal. Not only is this more convenient, but it ensures that the rent payments are recognized in your payment history that gets factored into your credit score.
Ensure Payments Are Reported
Once you have paid your rent online, you need to make sure your payments are recognized by the credit bureaus and calculated into your report. This can be done through rent reporting, which is “the reporting of monthly on-time rent payments to credit bureaus in order to boost an individual’s credit score,” according to RentTrack. This process doesn’t happen automatically, but using a reporting agency such as RentTrack will make sure your payment is seen by credit bureaus.
Use a Credit Card If You Can
Finally, you can also ensure that your rent is reported by paying rent with your credit card. This makes rent show up automatically in your payment history, and most credit bureaus now include rent payments in their reports. By paying rent on time and in full, you can quickly improve your credit score.
If you decide to pay rent with a credit card, make sure your landlord accepts credit card payments. Here at Crestwood, we accept credit cards and encourage residents to pay with a credit card to get the full benefit of their payments toward their credit.
If you want an easy way to improve credit, implement these adjustments, including paying online and making sure your payments get reported to credit bureaus. Then, you can reap all the benefits of good credit!