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Credit for Rent?


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It has been a while since I posted.


I took everyone's advice and rehabbed my student loans. Only one more payment to go! I haven't pulled my scores in 6 months. There was no need until the rehab is done.

They are heading in the right direction judging from the insurance quote I received a month ago.

Question: Has anyone heard of this site:


Do you think it legit, and would it help? It seems like it would be if it is legitimate.

I will report my scores when I pull them in a month or two. Thanks for all of the information on this board.

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You know what? I don't know.

The down side is...you'll be handing over your SS#, address, and other personal data to a company you "met on the internet" and, for which, you have no reasonable way of judging their honesty or intregrity. Always a questionable practice. They could just be phishing for info to line you up for identity theft.

The up side is...maybe, if they are honest, you get a tradeline on your reports that no one can tell you if it has any positive effect on any of your true FICO scores. The Bank Card FICO (the "sucker" score) won't care, the New Car score won't care, but, the Mortgage score might. The Mortgage score almost certainly would care if you ran out on a lease, but, I'm not sure it cares if you've been paying on one for 24 months.

The $200 sign up fee would turn me off...

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I would check with the BBB in their area and see if there are any complaints. I would also ask the company how long they've been established. If they are three months old and there's no BBB report on them, I wouldn't necessarily take this as a positive.

As an aside, I know any positive TL is a help to one's report -but how would rent report? As what type of credit? And what would the CL be? One year's rent on a 12 month lease? Just curious.

I just would want to know a lot more about that company before, as WTC says, you hand over personal data. Who is wereportrent? A group of investors? A guy in his basement?

I also agree the fee seems a bit steep when you could, with some work on your credit, get a credit card that costs nothing to start building positive credit. But this is why I ask anyone who knows what type of credit "rent" will report as - maybe it will improve your credit mix.

Sorry my reply is rambling a bit but I did have a variety of thoughts on the subject. I wouldn't say this service is necessarily a bad thing or a rip-off but I think you need to do your homework and also weigh the relative value of that fee. Speaking of rip off, check the rip-off report for any dirt on them.

Good luck and be sure and report back! If it's helpful to you, I think a lot more newbies to this site could benefit from it.

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Thanks for the replies.

I am of the same mindset. Gambling to improve my scores is not something I want to do. The two credit cards and a car loan seem to be helping my scores enough. If someone chimes in with experience on this company, I might try it.

Mortgage companies use alternate tradelines (rent, power, insurance) to approve loans. It would be nice if Fair Isaac would give people credit for paying these things on time too.

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