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Questions & Answers

Comparing Credit Cards can be tough. But you’ve got the knowledgeable WalletHub community on your side. Other consumers have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution.

How can I report rent payments to the credit bureaus?

WalletHub

@WalletHub

To report rent payments to the credit bureaus, sign up for a rent-reporting service such as LevelCredit. These services report on-time rent payments to the major credit bureaus for inclusion on your credit report. Some require your landlord to create and maintain an active account, while others just require verification that they own or manage the property and have an active lease with you.

Subscription Services to Report Rent Payments to Credit Bureaus:

Site	Landlord Involvement
ClearNow	Sign up for an account and accept rent payments through the app
Cozy	Sign up for an account and accept rent payments through the app
CreditMyRent	Verification of rental agreement or lease
CreditRentBoost	Verification of property ownership and photo ID
eRentPayment	Sign up for an account and accept rent payments through the app; option to have landlord or tenant pay fees depending on plan
LevelCredit	Landlord does not need to be involved
PayYourRent	Pay for an account and accept rent payments through the app
Rentler	Sign up for an account and accept rent payments through the app
Rental Kharma	Verification through 5-minute phone call
Rent Reporters	Verification of property ownership, rent amount, and due date
Rent Report Team	Verification of lease documentation, sign agreement to report rent, and driver's license
RentTrack	Verification of lease and accept rent payment through app
Rock the Score	Verification of lease, rental cost, and due dates
Zego	Pay for account and accept rent payment through app

These services vary in terms of functionality and price, costing as much as $145 per month. But they all report rent payments to at least one of the major credit bureaus.

If you are interested in free services, you have a few options, too.

Free Services to Report Rent Payments to Credit Bureaus:

Site	Landlord Involvement
Esusu	Sign up for an account and accept rent payments through the app
MoCaFi (free via mobile app)	Verification through online research and phone conversation
Zingo	Verification of property management company

Things to Look For in a Rent-Reporting Service:

With so many different services available for reporting your rent payments to the credit bureaus, there are a few key things to consider when deciding which one is right for you.

How much effort does my landlord need to go through to sign up, and will the landlord provide all of the information needed? Some services just require a phone call or an email. Others require a driver's license or a copy of the lease. In many cases, the landlord will have to sign up for and maintain an account with the service. Individual landlords may not want to sign up with a new service just to potentially help out your credit score.
How much does the service cost for a year? Payment options for these services vary. Some require a large initial deposit while others charge monthly or require a contract. The best way to report rent payments to the credit bureaus for free is to sign up for a service like MoCaFi, which offers free reporting to Equifax if you use its phone app.
Does the service include rental history? Depending on how the service tracks rent, it may be capable of checking past payment history. Others only begin tracking rent payments once you've signed up for the service.
Which credit bureaus does the service report to? Experian, Equifax, or TransUnion. Some services only report to a single credit bureau, while others report to multiple.
When will your rent appear on your credit report? It could take days, weeks or even months to be added to your credit report.
How can you cancel the service? Some services require contracts and others are only valid while you live at a certain address. Check if you can update your account when you move or if you need to cancel.

The value of reporting your rent will vary based on your current credit score, but TransUnion research found that renters with subprime credit scores who made timely rental payments could see their credit scores increase by 26 points after a year of rent payment reporting. You can track your progress with free credit reports and scores through your WalletHub account, all for free.

How can you find your employment history?

WalletHub

@WalletHub

You can find your employment history through your Social Security records, IRS filings, and credit reports. The first two options usually come with fees, but you can check your credit report for free by joining WalletHub. WalletHub even alerts you when a new employer has been added to your report. This can happen if you've provided employment information as part of a credit application. You'll be able to see records of your employers under the personal...

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Why is credit monitoring important?

Lauren Smith, WalletHub Staff Writer

@laurenellesmith

Credit monitoring is important because it notifies you of important changes to your credit report, which can signal identity theft and fraud. Credit monitoring is usually completely free and can help you avoid financial turmoil with minimal effort. In fact, no one can realistically keep tabs on their credit reports 24/7 without the help of a credit monitoring service (or a credit freeze).

In particular, credit monitoring can:

Make it easier to identify...

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Does credit monitoring affect my credit score?

Lisa Cahill, Credit Cards Moderator

@lisacahill

No. Credit monitoring does not affect your credit score. When you monitor your credit or check your score, it is viewed as a soft inquiry, which has no effect on your credit. It's important to monitor your credit regularly so you can dispute any items that are fraudulent or incorrect. You can take advantage of free credit monitoring through your WalletHub account.

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What are the biggest signs of fraud to watch out for?

Lauren Smith, WalletHub Staff Writer

@laurenellesmith

The biggest signs of fraud to watch out for are unfamiliar accounts or inquiries on your credit report, suspicious activity on your credit card accounts, phone calls and emails about financial products you don't have, and a sudden drop in your credit score. Spotting signs of fraud early makes the issue easier to handle.

Biggest Signs of Fraud to Watch Out For

Inaccurate information on your credit report
New credit cards,...

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Do I need to monitor all 3 credit bureaus?

Lauren Smith, WalletHub Staff Writer

@laurenellesmith

You don't need to monitor all three credit bureaus because the information on your credit reports has a lot of overlap and three-bureau credit monitoring is a paid service. The best approach is to sign up for free credit monitoring to stay on top of the latest changes to your credit report from one of the bureaus. Then, you can check your reports from the other two major bureaus at least once per year to...

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When do credit card companies report to the credit bureaus?

Lauren Smith, WalletHub Staff Writer

@laurenellesmith

Credit card companies typically report to the credit bureaus at the end of a billing cycle, which is usually every 28-31 days. Creditors usually report a cardholder's payment history, account status, balance and credit limit.

When the Top 10 Credit Card Companies Report to Credit Bureaus

Credit Card Company	When They Typically Report
American Express	Monthly, within 5 days of...

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What is a credit monitoring alert?

Sydney Garth, Credit Cards Moderator

@sydneygarth

A credit monitoring alert will notify you of the following activity: account openings, change in address, public records, collection accounts, and hard inquiries. When you receive an alert, you can confirm that the activity was yours or work to correct the error. If you determine that your identity has been stolen, you can read about the steps to take in our guide. You can also monitor your credit for free through your WalletHub account.

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How can I check my credit score

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What are the three credit monitoring companies?

Joseph

@joezcool2

Experian,EquifaxandTransUnion.

Why WalletHub Is the Best Site for Free Credit Monitoring

WalletHub is the best service for free credit monitoring because it will tell you about changes to your TransUnion credit report sooner than most other options. WalletHub also lets you set up SMS alerts for important credit report changes, unlike competing services. Plus, you will get real-time alerts about credit inquiries, helping you stop potential fraud in its tracks, and you will enjoy enhanced credit monitoring.

WalletHub also offers a lot in addition to free credit monitoring. Your free account also gets you daily credit score and credit report updates, as well as access to tools such as our credit score simulator. You can get your WalletScore, too, which allows you to track your overall financial health.

To sign up for free credit monitoring from WalletHub, you need to provide the information necessary to validate your identity and locate your credit file. This includes your name, address and at least the last four digits of your Social Security number. We are very serious about security given the sensitive nature of people’s credit info, so we must confirm you are who you say you are. This can make the sign-up process seem a bit long, but it’s ultimately for your own safety.

Ask the Experts

In search of fresh perspectives on the role of free credit monitoring services in today's personal finance landscape, including the ways in which consumers and companies employ them, WalletHub posed the following questions to a panel of leading industry experts. You can check out their bios and responses below.

Has the increased availability of free credit monitoring services made consumers safer?
What are the most important things to look for in a free credit monitoring service?
Given the prevalence of data breaches, should everyone sign up for free credit monitoring?
Free credit monitoring is available to everyone, so should data-breach victims be satisfied with receiving such a service from a company that was breached?

Colin Dean
Consumer Financial Services Attorney, Adjunct Professor, Information Privacy & Data Security and Consumer Financial Services Regulations at Cumberland School of Law at Samford University
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