Credit scores in today’s world can help to change circumstances for many people. A new car loan, personal loan, or even being able to rent may depend on a decent credit score. In New York City the Housing Authority recognizes this and offers something like not many others. The Housing Authority allows renters to choose whether or not to report to credit bureaus for those paying rent. For tenants that always pay their rent on time this is good news that can improve their credit score and open more doors for them. Click here for an evergreen guide to understand credit scores.
- New York City renters who pay on time may soon be eligible for a credit score boost
- Lack of factoring rent to credit affects low-income New Yorkers
- Comptroller Stringer wants to implement different strategies to create credit for nearly 30 percent of renters
“As part of its study, Stringer’s office studied a sample of NYC tenants paying less than $2,000/month, and found that 76 percent of renters would have a higher credit score if rent history was factored in.”
(abstract 3J9UN9O9J3SYV55SDCJKSU3N3RCJ0X 3GD6L00D3SXQQMUO2U5EABAZKRLM1N A3I3VC7VCQHOT8)(authorquote 3SD15I2WD2UIO2PICG7ELOWPKXP63M 3O6CYIULED124VF08KLLUBHNTQGWU7 AVU1N78F92K93)(keypoints 3J94SKDEKIPKNQR10M3L6R41FF45D4 3YWRV122CSZREUJIAH5FGVE1BPY8U1 AVN43JD5CFB19)