How paying your rent can help your credit score

Did you know that paying your rent on time could help improve your credit score?

Like many housing associations across the UK, we share rent payment information with Experian, one of the UK's main credit reference agencies. We let you know about this when you started your tenancy, but we know that's easy to forget, so here's a reminder of how it works.

If your rent account is up to date, or within one month's payment, we'll report this positively to Experian. A healthy credit score can make it easier to access financial products, such as loans or mobile phone contracts, and could help you qualify for better rates.

If your rent account falls behind by more than one month's rent, this may have a negative impact on your credit score. Experian records this as missed payments rather than showing the amount of rent owed.

If you're worried about keeping up with your rent, please get in touch with us as soon as possible. We're here to help and can discuss the support available before the situation becomes more difficult. Feel free to reach out to our Financial Wellbeing team here.

If you don't want us to share your rent payment information with Experian, you can opt out at any time by calling us on 0333 400 8222. Please note that any information already shared will remain on your credit record, although you can contact us again in the future if you'd like us to resume reporting. 

To find out more about how Experian works, visit the Experian website.