According to Equifax, a good credit score ranges from 670 to 739. If your score happens to fall below this range, you aren’t out of luck. One way to improve your score is by paying your rent online.
At Four Seasons Apartments, we offer an online rental payment system to help all of our residents improve their credit. When next month rolls around, boost your credit score by paying your rent online so that we can report your payments to the credit bureaus. And if you’re looking for an extra boost, consider paying your rent with a credit card.
Start Paying Rent Online
How are credit scores determined? According to Experian, the following elements all play a significant part in determining a score:
- Use of credit cards
- Payment history
- Applications for new loans and credit
As you pay for your rent online, your payments become part of your payment history. The more you make online payments on time, the higher your score can be. When you pay your rent online, use our resident portal for a quick and convenient experience.
Report Your Rent Payments
After making a rent payment, ensure that your payment is reported to the credit bureaus and calculated into your report. According to RentTrack, “It’s not possible to report information directly to the big three credit bureaus: TransUnion, Experian and Equifax.” Using a reporting agency such as RentTrack will make sure credit bureaus see your payments.
Thankfully, The Four Seasons Apartments automatically reports your online payments to the credit bureaus for you. Simply submit your payment online, then allow us to do the rest!
Pay with a Credit Card
To improve your credit score even more, consider paying your rent with a credit card.
“Open a credit card and use it to pay your rent . . . then pay your credit card balance in full each month,” says LaToya Irby, credit expert for The Balance. “The timely credit card payments will help boost your credit score.”
While it’s not a must, paying your rent with a credit card will give you that extra boost you are looking for!
As you submit your rental payments online and ensure that your payments get reported to credit bureaus, you will see your credit score improve. Additionally, paying rent with a credit card will ensure that your score continues to soar. Happy credit score boosting!