What is BoomReport?
BoomReport is a credit-building product that reports your rent payments to all three major credit bureaus — Equifax, Experian, and TransUnion — so you can build credit with money you're already spending.
Why rent payments matter for your credit
For most Americans, rent is the largest monthly household expense. Despite paying on time every month, most renters receive no credit for these payments. BoomReport changes that by adding your rental payment history as a tradeline on your credit report.
What BoomReport can do for your credit score
Reporting your rent payments through BoomReport can benefit your credit in several ways:
Boost your credit score — The average Boom customer sees a credit score increase of over 28 points, with some users seeing increases of over 105 points.
Diversify your credit profile — Adding a rental tradeline can improve the mix of credit types on your report, which is a factor in your overall score.
Build credit from scratch — If you have no credit score (sometimes called a "thin file"), reporting your rent payments can help establish one.
What payments can BoomReport report?
BoomReport can report two types of rent payments to the credit bureaus:
Ongoing rent payments — Each month's payment is reported as you make it, building your credit history over time.
Past rent payments — BoomReport can also report your historical rent payments, so you can get credit for on-time payments you've already made.
How to get started with BoomReport
To enroll in BoomReport, download the Boom app and sign up in minutes:
Get started today! Download the Boom app here.