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What impact will reporting my rent have on my score?
What impact will reporting my rent have on my score?
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Written by Team Boom
Updated over a week ago

Adding a rental tradeline to your credit report can help diversify your credit profile and can improve 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.

Additionally, reporting your rent payments can help give you a credit score if you are a "thin-file" customer with no credit score.

While it is not possible to predict the exact impact on your credit score, generally speaking, the lower your credit score, the larger the impact you’ll see.

Get started today! Download the Boom app here.

Highlights of a rental tradeline include:

  • No credit check needed nor hard inquiry on your credit report

  • Adds up to 24 months of payments (a rent payment must be made within the last 12 months in order to qualify)

  • Improves credit age with lease start date increasing your average age of accounts (typically)

  • Falls into the “Other” category, helping to diversify your credit profile

  • Does not impact the debt-to-income ratio

  • Does not impact utilization ratio

  • Serves as a positive tradeline to offset negative items on your credit report

  • Allows creditors/landlords the opportunity to view your financial responsibility and loan eligibility despite a given credit score

Here is an example of a rental tradeline:

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