Choosing Rental Kharma to report my timely payments and increase my credit score
Choosing Rental Kharma to report my timely payments and increase my credit score What is Rental Kharma? Rental Kharma reports rent payments to a credit bureau on your behalf for a fee. Many people assume rent payments are already part of their credit reports, but that’s almost never the case. The credit-scoring giant FICO says rent is an entry — called a “tradeline” — on less than 1% of credit files. Yet there’s some evidence that these new rent tradelines can be a stepping stone to achieving the kind of credit scores traditionally used to, qualify for a car loan or a mortgage. A year or two of rent payments can…
How Is A Credit Score Calculated?
How is a credit score calculated? What Is a Credit Score, and How Is It Calculated? Want to learn more about a credit score before signing to our Rent to Own Program? Here is an article that will enlighten you on how a credit score is calculated. As a credit counselor will tell you, your credit score is like a financial ID number. The lower your score, the less desirable a customer you are and the worse credit terms you will get every time you wish to get credit from a bank, credit card company, and so on. By contrast, the higher your score, the more desirable a customer you…
You Have Damaged Credit – Can You Buy A Home?
You Have Damaged Credit. Can You Buy A Home? Getting a home loan is like getting recognition at the end of each academic year in school. Before you are awarded any recognition, you must comply with the requirements for such recognition. For instance, before you will be given an academic award, you must first satisfy the required general weighted average on each or all subjects. Other awards also follow particular criteria before it will be awarded to deserving students at the end of the school year. The same thing goes in securing a home loan. There are certain requirements that you must meet before you will be able to secure a…