How does Rent Accelerator Work?
How much will rent help my credit score?
Because credit scores are based upon individual situations, it is almost impossible to predict. A positive impact will show on your credit report if you continue to pay your rent on time. That we guarantee!
How will the rent appear on my credit bureau?
The data is reported as an open tradeline on your credit report, similar to the way a credit card would be reported.
Which credit scores are impacted by the reporting of rental payment history?
Rent Accelerator reports rental payment history as an open tradeline on the renter’s credit report. All major credit score models incorporate tradelines into their calculations of the credit score.
Where do I pay my rent?
That doesn’t change. Continue paying your rent in the same manner that you are currently doing now.
How long will it take for my rental payments to show up on my credit report?
Depending on your landlord/property manager, it could be as quick as 5-6 business days. Then every month after that.
How do I verify my rent?
You don’t! We do that for you. We verify that with your landlord/property manager each month.
What credit bureau do you report to?
We report your rent payments to Transunion. Soon, we will be able to submit your rental payments to other credit bureaus at no extra charge.
What if I have a roommate?
That is ok. We will verify your half of the rent through your landlord/property manager. We would love to report their rent as well.
What if the landlord/property manager doesn’t cooperate?
Unfortunately, if they do not cooperate we will have to refund your money.
When is my rent reported late?
Rent payments will only be reported late if you are 30 days past due. If you pay before the 30 days, it will be reported on time to your credit report.
Is there a verification fee?
A onetime verification fee of $39.95 and then just a $9.95/month to verify your rent payment each month. And during the enrollment, you have the option to verify past rent as well.