At Zable, we're here to help you break the cycle of making monthly rent payments without reaping the rewards.
Use rent reporting to build your credit history and boost your credit score, similar to how you would if you were making mortgage repayments.
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Unlike monthly mortgage repayments, rental payments don't appear on a credit report, trapping renters in a negative cycle of being unable to secure competitive mortgage offers. However, rent reporting is a feature where rental payments are recorded and reported to credit reporting agencies.
Demonstrating you can pay your rent on time with rent reporting can help to build your credit score, making it easier to get loans, mortgages or other forms of credit in the future.
With Zable, reporting your rent couldn't be simpler. Using our market-leading app, we'll track your future rent payments seamlessly through your bank account and report this data to the credit bureaus to start building your rental credit report.
This record of your on-time rent payments will take a short amount of time to appear on your credit report, and in turn, help to boost your credit score.
If you are wondering how you can build your credit score, below are some of the simple steps you can follow to improve your credit rating:
Adding your rent payment history to your credit report may help to improve your credit score over time. By reporting your on-time rental payments, it can make it easier for you to get approval for other forms of credit in the future.
Your credit limit is the highest amount you can borrow for financial products such as credit cards or loans. By reporting your rent payments to credit bureaus, you might be able to increase this limit by demonstrating your good credit score and credit history.
Having a good credit score and credit history means you may be more eligible to attain lower interest rates on credit products such as personal loans or credit cards from lenders. This means more money in your pocket, because you will pay less back in interest.
Having a proven track record for paying your rent on time may make it easier for you to secure another rental tenancy with a landlord or property management company in the future.
Having rent repayments as part of your credit history can help to diversify your credit portfolio. This will demonstrate your ability to manage a variety of credit types beyond the likes of credit cards or personal loans.
With a higher credit score from rent reporting, you're likely to be looked at more favourably by lenders for a future loan such as a mortgage by proving you can consistently make payments on time.
With Zable, rent reporting is simple. Once you have downloaded our app and linked it to your personal bank account, you can sign up for our rent reporting service in minutes. We'll identify rental payments leaving your bank account each month and report them directly to credit reference agencies.
We're committed to helping our customers reach their financial goals. That's why, unlike some other providers, you can use our rent reporting service free of charge.
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“At Zable, we recognise that building a strong credit profile can be a challenge for renters, who often don't see their timely rent payments reflected in their credit score.
By introducing rent reporting, we’re allowing renters to strengthen their creditworthiness without taking on debt.
It’s a game-changer for those looking to improve their financial standing in a more accessible way.”
Zable Product Manager - Credit Products
Creating your rental report with Zable couldn't be easier. Simply download our app and check your eligibility today.
Download the Zable appKeen to get started? Download the Zable app and use your rent payments to start building your credit score today.
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