Does paying rent build credit? This question is about Credit Scores

Does paying rent build credit?

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This question is about Credit Scores

Sydney Garth, Credit Cards Moderator

@sydneygarth • 04/14/20 This answer was first published on 04/14/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Timely rental payments may help you establish or build credit history, considering that your rental payment information is included in your credit report.

Please make sure that your rental payment data is reported to the credit bureaus by the property management company or your landlord in order to take advantage of this benefit.

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Do utilities affect your credit score?

Paying utility bills on time won’t help your credit score. But failing to do so could hurt it. Most utility companies (e.g. cable, internet, gas, electric) do not report account information to the major credit bureaus on a monthly basis, you see.

So on-time payments won’t add positive information to your credit reports – the key to credit improvement. Rather, utility bills are generally reported to the bureaus only when they’re past-due and/or sent to...

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