Azibo's Credit Boost service reports on-time rent payments to credit agencies, helping tenants build stronger credit profiles. Historically, rent payments are rarely reported by property owners, even though this represents one of the largest monthly expenses for people.
With Credit Boost, tenants can:
- Automatically report on-time rent payments to the two largest credit agencies*
- Develop a stronger credit profile for more favorable borrowing, refinancing, and lending terms
- Get credit for rent payments and track current progress month-by-month**
- Positive credit reported only, no negative impact to your credit score if you fall behind***
PLEASE NOTE: You have to be paying rent directly on the Azibo platform for credit boost to report your positive rental history.
*Azibo credit boost will report to Equifax and TransUnion. (We are currently working on reporting to Experian...stay tuned!)
**If you are using another credit reporting service for your rent payments, credit boost will not double report payment history. Please be sure to enroll in only one service.
***If you have a “thin” credit file and attain a new loan with little payment history, your credit score could come down a little bit at first but over time, the credit score should rise as more positive payment history is gained.
See below for more information on Credit Boost for Renters: