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Signing Up for Rent Reporting Services to Build Credit

When it comes to building credit, leveraging rent-reporting services can be a valuable strategy for individuals who want to establish or improve their credit scores.

Understanding the application process for these services, including how to choose the right one, the steps to signing up, and effectively using them to build credit, is crucial.

In this guide, we will delve into the application process for rent-reporting services, the selection criteria, the steps to sign up, and the strategies to effectively utilize them to build credit.

Factors in Choosing a Rent-Reporting Service

When considering integrating rent reporting into your financial toolkit, selecting the right service is crucial. Here’s a comprehensive guide to making an informed decision:

Company Reputation:

Opt for reputable companies with positive customer feedback and reliable support services. To assess a company’s reputation, look for online reviews, customer testimonials, and ratings on platforms like Better Business Bureau. Reliability is important particularly since they will be dealing with sensitive financial information and personal data.


Services vary widely in pricing models, including initial setup fees, monthly subscriptions, and charges for reporting past rent payments. Additionally, some services charge extra for reporting past rent payments or adding additional renters to the account. It’s crucial to consider these costs when deciding on a rent reporting service to ensure it fits within your budget and provides the desired benefits.

If the fees are out of your budget, check out the previous guide to find out how to report rental payments to credit bureau for free.

Credit Bureau Coverage:

Not all companies report rent to credit bureaus that matter. Since lenders may check your credit score with any one of the major bureaus (TransUnion, Equifax, Experian), it’s advantageous to choose a service that reports to multiple bureaus, ensuring your rent payment history has the broadest possible impact.

Rent History Reporting:

Look for services offering 12 or 24 months of past rent payment reporting for a comprehensive credit history.

Eligibility and Service Location:

Ensure your rental unit meets the service’s criteria and that the service is available in your area to prevent complications.

Extra Services:

Evaluate additional features like utility or cell phone payment reporting, expedited reporting, or options to add roommates for an extra fee.

Cancellation Policy:

Life circumstances change, and you may need to cancel your subscription. Understanding the service’s cancellation policy, including any fees or notice periods, is important to avoid unwanted charges.

Landlord Relationship:

Understand how the service interacts with your landlord; some services require landlord participation while others monitor payments independently.

By considering these factors carefully, renters can select a rent-reporting service that aligns with their financial goals and personal circumstances, turning their monthly rent payments into a stepping stone for credit improvement.

Some Rent-Reporting Service Providers You Can Consider

The landscape of rent-reporting services offers diverse options, each with unique features, costs, and benefits. Here’s a closer look at some of the prominent services available:

Boom Pay:

Boom Pay enables affordable rent reporting to major credit bureaus such as TransUnion and Equifax for a one-time fee of $10 and a monthly subscription of $2. For an additional $25, renters can also report the past 24 months of rent, totaling a setup cost of $37. This service stands out with its expedited reporting options and discounts for adding a spouse or roommate. However, a potential downside is that Boom Pay may not report to Experian, limiting its effectiveness for those focusing on boosting their Experian credit score.

Rent Reporters:

Offering services at an upfront cost of $94.95 and a monthly fee of $9.95, Rent Reporters allows for free expedited reporting and up to two years of past rent payment reporting. It also provides discounts for adding additional renters. The main drawback is its lack of reporting to Experian and some customer service issues, which have affected its Better Business Bureau score.


With no signup fee and a straightforward monthly subscription of $6, LevelCredit specializes in reporting rent payments to TransUnion and Equifax. It’s designed for simplicity and affordability. However, it does not report to Experian.

Credit Rent Boost:

Credit Rent Boost offers rent reporting to credit bureaus for a one-time $25 enrollment fee per renter, plus a monthly subscription option at $6.95. On top of that cost, there is also the reporting fee of $49 for 12 months or $65 for 24 months. Their pricing scheme provides flexibility and allows for up to two years of rent history reporting.

Rental Kharma:

Rental Kharma specializes in boosting credit scores by reporting rent payments to TransUnion and Equifax. Unique for its inclusion of all past payment history at one’s current rental address, it also offers discounts for spouses or roommates on both monthly and setup fees. However, it charges a high signup fee of $75, plus a monthly cost of $8.95. Despite these costs, it extends a 90-day money-back guarantee.

Self Rent Reporting:

Self Rent Reporting enhances credit by reporting rent to three bureaus but requires landlord participation, which may not be feasible for all. It offers a premium subscription at $6.95, including utility bill reporting to TransUnion, up to $1 million in identity theft insurance, and basic TransUnion credit monitoring. It also offers the LookBack feature which reports up to 24 months of rent history for a one-time $49.95 fee.

Each of these services provides unique features and benefits tailored to different needs and budgets, enabling renters to choose the best option to help boost their credit scores through rent payment reporting.

Steps to Applying for a Rent-Reporting Service

Applying for a rent-reporting service is a straightforward process, but it requires attention to detail to ensure accuracy and effectiveness. Here’s a step-by-step guide to help navigate this process:

  1. Research and Select a Service

Begin by researching different rent-reporting services, and comparing their costs, features, and credit bureau coverage. Consider your financial goals and choose a service that aligns with your needs and budget.

  1. Sign Up and Provide Necessary Information

Once you’ve selected a service, sign up through their website or app. You’ll be required to provide personal information, including your full name, address, and Social Security number, for identity verification purposes. Provide detailed information about your rental agreement, including your landlord’s or property management’s contact details.

  1. Verification Process

The rent-reporting service will verify your rent payments. This might involve contacting your landlord or property management to confirm your rental history. Some services may allow you to upload documentation, such as lease agreements or bank statements, as proof of rent payments.

  1. Monitoring and Updates

Once your account is set up, and your payments are being reported, monitor your credit score and report for updates. Most services offer online dashboards where you can check the status of your reported payments and see how they’re affecting your credit score.

  1. Maintain On-Time Payments

To maximize the benefits of rent reporting, continue making rent payments on time. Some services offer reminders and alerts to help you stay on track.

Tips for a Smooth Application Process

Ensure your rental information is accurate and up-to-date to avoid delays in the verification process. If possible, choose a service that reports to all three major credit bureaus for maximum impact on your credit score. Keep an open line of communication with your landlord or property management, informing them of your intention to use a rent-reporting service.

By following these steps, you can successfully apply for a rent-reporting service and start building a stronger credit profile through your regular rent payments. This proactive approach to credit building can open up new financial opportunities and enhance your overall financial health.

Beyond Credit Scores

The benefits of rent reporting extend beyond mere numbers on a credit report. For many, it represents a step towards financial empowerment and literacy, offering a deeper understanding of credit and how to influence it positively. Furthermore, the process encourages consistent financial behaviors, such as timely payments, that are beneficial across all aspects of personal finance.