Thursday, 23 of February of 2012

Fresh Changes to Credit Reports – Your Rent Payment Matters Too

A change is gonna come… and if you are a renter, it could be great news for your credit report.

Experian, one of the big three credit bureaus, began including rental payment data on consumer credit reports in January, and will affect the Experian credit score and VantageScore. It’ll be a good addition to most consumers’ credit toolbox, but as with all big changes, there could be a downside.

Right now, Experian has gathered rent payment history from large property managers of approximately 8 million residents nationwide, but reporting rental data could easily become a more widespread practice amongst credit bureaus. Getti

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Building Credit with an Auto Loan or Car Payment

**Today’s guest post is contributed by MoneyAisle**.

Whether you’re rebuilding your credit after a bankruptcy or just getting started as a borrower, making car payments on an auto loan is an excellent way to establish or build your credit score.

Before you take out that big home mortgage loan, business loan or finance that designer furniture set, you need to prove to lenders that you’re creditworthy.

Car loans help you do just that for the following reasons.

Auto Loans are Installment Loans

When lenders and credit reporting bureaus look at your credit history, they want to see a good mix of installment loans and revolving credit. Revol

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