Credit reporting companies CoreLogic and FICO have begun including rental payments as a factor in determining an individual’s credit score, according to a New York Times report.
This could ultimately help those forced into renting by foreclosure to rebuild their credit scores, provided they keep up with rental payments.
Experian began counting rent payments last year.
Joanne Gaskin, FICO’s director of product management global scoring, told the Times "Evidence of positive rental payments could be a plus for consumers.” She estimated that rental history data could show up on one in five of the new CoreScore credit reports.
