Credit Rental Boost
Credit Rental Boost Review
CreditRentBoost.com can help boost your credit score using your rent payments. The company will work with your landlord and leasing contract to report your rent history and future payments to Equifax and TransUnion twice a month, which can help boost your credit quicker than other rent reporting services. They also allow you to report rent from multiple addresses you lived at.
Tenants can choose from past credit reporting, ongoing credit reporting, or both. The company claims that you will see improvements in your credit in as little as two weeks with increases of up to 100 points, but your name must be on the lease agreement to get credit. Landlords can also enroll at least nine of their rental units in the plan as incentives for tenants to pay on time.
Pros and Cons
- Boost credit based on rent payments you already made (up to two years ago)
- Get credit for future payments you will make on rent going forward
- Services begin at $2.50 per month (all fees due upfront; one-time fee may apply)
- Various pricing plans to choose from
- Results in less than two weeks
- Average score increase of 30 to 100 points
- Multi-renter discounts available
- Rent reporting to Equifax and TransUnion twice per month for faster results
- 100% money back guarantee and you can cancel anytime
- Does not report to Experian
- Need to have a compliant landlord
FINAL VERDICT – Credit Rent Boost allows you to boost your credit by reporting rent payments that you made up to two years ago. You can also report future payments you make going forward to ensure you get credit for all rent payments. The company reports your rent twice per month – as opposed to once a month, like most rent reporting companies, which can help boost your credit quicker.
They also allow you to include rent paid at multiple addresses if you moved around within the past two years, ensuring you get credit for all rent paid within this time.
There are several plans you can choose from, each starting at only a few dollars per month, and you can get a discount if you sign up multiple renters. However, you will need to pay all fees upfront, including a one-time fee for most plans, but there is a money back guarantee if you’re not happy. Keep in mind that you’ll need to have a compliant landlord as they will need to help you sign up for this service. You may want to clear this with them before signing up to save time.
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- You can report rent from multiple addresses within the past two years, even if you don’t live there anymore, but you will need to make sure you sign up for past rent reporting services. Additionally, your driver’s license does not need to match the address listed on your lease agreement. You can also use this service if you sublease a room or apartment, as long as you and your landlord provide all of the necessary documents.
- Your spouse or roommates can get credit for paying rent, as long as they are listed on the lease agreement. Credit Rent Boost offers a multi-renter discount on their rent reporting services. The cost is $80 for the first 12 months of reporting for two renters. If you and your roommate decide to continue for another year after that, you can renew at the discounted price. Spouses and roommates can also sign up for the past rent reporting option.
- The company claims that they make the process as easy as possible for your landlord. However, there is a 100% money back guarantee if your landlord does not cooperate. In other words, if you sign up for Credit Rent Boost, pay all the money upfront, and your landlord will not send in or approve the necessary documents, the company will give you back your money.
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In our opinion, Credit Rent Boost provides an excellent service. They have good customer service reviews, and the company has an A+ rating with the BBB. The company states that you’ll see results within two weeks and the average credit score increase is between 30 and 100 points (over the course of 12 to 24 months), which is a great way to benefit from rent that you have to pay anyway. You can also report rent from up to two years ago at multiple addresses.
However, the payment process can be confusing as there are multiple plans and options available, especially if you have several people on your lease. Also, keep in mind that this service is no good if you have a landlord who is unwilling to cooperate.
Lastly, the company only reports to two of the three major credit reporting agencies, which may cause discrepancies between your credit reports. You will benefit most from this service if you have been renting for several years (or plan to rent for several years in the future) and have limited options otherwise to boost your credit, such as credit card payments, loans, etc.
Credit Rent Boost is a good investment if you have been renting for several years or plan to rent for several years in the future and have very few other ways to boost credit. The payment plans can be a bit tricky to navigate if you have several renters on your lease, and you will need a cooperative landlord to benefit from the company’s rent reporting services. However, for only a few dollars per month (plus a reasonable one-time payment), you can easily use Credit Rent Boost to get credit for paying rent that you have to pay anyway, making it a worthwhile service.