Experian to add rental payment history to help increase consumer credit scores

Experian recently announced it would expand its company's data collection capabilities to include rent payment histories, according to the Sun Sentinel.

The leading credit reporting firm recently acquired RentBureau, which has access to approximately 20,000 rental payment reports that will provide the company with increased information to use to generate a consumer credit score.

RentBureau, the new subsidiary, will collect information on payment history through large rental property management companies.

The expansion for Experian is part of a greater initiative to gain access to rental payment data to provide more detailed information on consumers' credit histories. The credit rating agency also recently acquired ClearNow, a service with information on Florida rental properties.

The company's goal in the expansion is to help consumers attain higher credit scores through consistent rental payments.

As an increasing number of consumers in today's environment focus on improving their credit situations, this additional reporting will help consumers achieve higher credit scores, making lower borrowing rates more attainable.