What are the benefits of a good credit score? A good credit score can help you access the best credit cards, get insurance discounts, get the lowest interest on loans, and get approved for housing rentals.
We could all benefit from an improved credit score, and doing this is easier than you think! Online rent payment is a simple method for boosting your credit score! Here’s how it works.
Online Rent Payment
Paying rent online is a great way to start improving your credit score. Not only is this more convenient, but it ensures that the rent payments are being recognized and factored into your credit score. At The Heights at Signal Hill, we make this easy for our residents through our online resident portal.
Once you have paid your rent online, you need to make sure your payments are recognized by the credit bureaus and calculated into your report. Luckily, we offer an online rental payment system that reports information to the credit bureaus. That way, credit bureaus receive a record of your on-time rental payments, which contributes to your good credit.
Payment with Your Credit Card
Finally, using a credit card to pay your online rent payment can be a great way to boost your credit. LaToya Irby, credit expert for The Balance, advises, “Open a credit card and use it to pay your rent . . . then pay your credit card balance in full each month. The timely credit card payments will help boost your credit score.”
Paying with a credit card isn’t required, but it can be a great way to pay rent while also getting the benefits associated with using a credit card.
There you have it! Through online rent payment, reporting payments to credit bureaus, and using a credit card, you can make the most out of your rent payment and improve your credit score at the same time! Happy credit-score-boosting!