Rental Kharma (931-500-1482) has announced that is has now helped 125,000 families build good credit scores from its rent reporting service.
-- The service encompasses retroactive rent reporting for the renter’s current residence, allowing them to add 10 years or more of rental payments to their credit report. Rental Kharma particularly recommends their services for individuals looking to qualify for home and auto loans.
For more information, please visit https://www.rentalkharma.com/
According to Experian data, nearly 49 million Americans don’t have a credit score: 53% of these individuals have nothing on file with Equifax, TransUnion, or Experian, while the other 47% are considered “unscorable” because there is too little information available on their profile. Americans who fall into either category may have difficulties qualifying for loans, face higher security deposits, or encounter problems with car rentals and other services requiring down payments.
Renters make up over a third of America’s population, but they often do not report their rental payments to credit bureaus, losing opportunities to develop their credit profile. However, industry experts say that payment history is the most important factor in determining an individual’s FICO Score, which is the measurement of creditworthiness most commonly used by lenders. Rent reporting services, such as the ones Rental Kharma offers, can therefore be used to bolster an individual’s credit score, as long as the individual has a record of on-time payments.
“Over 100 million Americans struggle with their credit and are denied access to traditional non-predatory financial products,” says a spokesperson for the company. “Rental Kharma was founded to solve this huge problem and provide a sustainable and simple way for renters to establish and build credit history through their largest monthly payment.”
Renters will qualify for Rental Kharma’s services if they are paying rent to the property owner of their current residence. These services do not require a credit check or access to the client’s bank account; renters who pay by cash, money order, check, Venmo, or online portals are eligible for rent reporting. Most renters notice an average credit score increase of 40 points within days, strengthening their position for home and auto purchases.
In addition to retroactive rent reporting, members will have access to other benefits, including one-on-one mentoring sessions.
Interested parties can learn more by visiting https://www.rentalkharma.cot/
Contact Info:
Name: Cullun Canazares
Email: Send Email
Organization: Rental Kharma
Address: 225 South Jefferson Avenue, Cookeville, TN 38501, United States
Phone: +1-931-500-1482
Website: https://www.rentalkharma.com/
Source: PressCable
Release ID: 89177912
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