More public-housing residents in the US would see their credit scores improve if their rent payments were reported to credit agencies, according to a new study by the U.S. Department of Housing and Urban Development.
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Counting Rent Would Improve Credit Scores of Public-Housing Residents, HUD Finds
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Currently, credit-reporting companies don’t usually have access to rent payments in calculating credit scores, unless a landlord reports late payments. There is a growing school of thought, however, that credit scores should take into account more data such as cellphone and utility payments. HUD now plans to begin discussions with public-housing authorities about pilot programs for rent-payment credit, which would likely include both positive and negative payment information, according to administration officials.
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