Credit. From reserving a rental car to making online purchases, it’s hard to do anything without some form of credit. According to the American Bankers Association, there were 374 million open credit card accounts in the US as of mid-2019. And if you are one of them, you’re likely looking for quick and easy ways of building credit.

If you rent an apartment, your payment history can contribute to your credit score. It depends on how you pay your rent and how those payments are reported to national credit bureaus. Here’s how it works.

Use a Credit Card to Pay Your Rent 

While most of us pay rent by cash or check, your credit score relies on a payment history showing good faith in paying your bills. For a method of building credit, designate a credit card for paying your rent online. “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.” The important thing to remember is to pay off the credit card balance every month.

Make Sure Your Landlord Reports Those Payments

Did you know your payment history isn’t automatically reported to credit bureaus? “You can’t report rental payments to credit bureaus yourself, but all three of the major bureaus will accept your rental payment data from a third-party servicer,” explains Forbes advisor Kelly Anne Smith. The good news is that landlords can report payments to third-party platforms. But they don’t always do it automatically.

So how do you make sure your rent payments are reported? At Park Del Amo Apartments, 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. We make it easier than ever to pay rent online through the resident portal. This payment platform makes it easy to pay your rent wherever you may be. And your payments are reported to national credit bureaus, building credit with every payment. In order to opt in for the credit reporting, follow these steps:

  1. Log in to your account through the resident portal and click on “Make a Payment Now.”
  2. Select “Build your credit history by opting in to credit reporting.”
  3. Enter your information in the credit reporting fields. Be sure to select “yes” for month-to-month lease if you have one, or select “no” and a lease end date.

This is the best time to improve your credit score. And by using a credit card and online payments to build a solid payment history, an awesome credit score is well within reach.