Why don’t I see my rent payments on my credit report?

ClearNow can only furnish rent payment data to Experian. So please make sure that you are pulling your credit report directly from Experian.  You must also opt in for credit reporting with ClearNow in order for us to furnish the data. This is a separate process from your enrollment into ClearNow as your payments are not automatically reported. Instructions on how to opt in for credit reporting are in every rent reminder email. Please note, ClearNow must have four months of complete data before we can furnish your rent payment data.

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Why Don’t I See My Rent Payments On My Credit Report?

ClearNow only furnishes rent payment data to the Experian credit bureau. Once you are enrolled in ClearNow, you must take an additional step and opt in for credit reporting if you would like your payment data furnished. Once you have four months of complete data, those months will be furnished to Experian and each month thereafter, on a monthly basis. If you still do not see your rent payments, please make sure that you are checking your Experian credit report and not one with another credit bureau.

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When I Enroll, Are You Automatically Reporting My Payments to the Credit Bureau?

No, we cannot furnish your ClearNow rent payment data until you provide your consent. After you are enrolled in ClearNow, there is an additional step that you must take to sign up for credit reporting.  Once you have four (4) payment periods of complete data, your ClearNow rent payment data will be reported to Experian. Thereafter, your data is submitted on a monthly basis.

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What Are Some Advantages For A Tenant to Use ClearNow?

There are many advantages for a tenant to use ClearNow! For one, ClearNow is Free! Fees are paid by your landlord or property management company. You have the opportunity to pay your rent electronically without having to go out of your way to write and deliver a check or money order. Signing up with ClearNow enables an automatic debit from your bank account and does not require your initiation each month. One of the greatest benefits of using ClearNow is the ability to report the rent payments to Experian. This will allow you to build a credit history.

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Can a tenant report rent payments to a credit bureau?

Yes.  Tenants enrolled in ClearNow (www.ClearNow.com) may report their rent payments made while they are enrolled in ClearNow. ClearNow is a data furnisher to Experian RentBureau (www.experian.com/rentbureau).

Why Building Your Credit History Is Important

Credit plays an important role in your life — affecting the purchases you make and much more. A credit history is vital in today’s economy and enables you to obtain valuable credit services such as credit cards, mortgages, and auto loans. Lenders use credit reports and credit scores to gauge the likelihood that you will pay back a loan.

How Paying Rent On Time Helps Build Your Credit History

Experian incorporates on-time rental payment data reported to Experian RentBureau into Experian credit reports. Your rental payment information will be included as part of your standard credit report and may be incorporated into certain credit scores. The inclusion of positive rental payment history within Experian credit reports allows you to establish or build credit history through timely rental payments.

 

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