My Credit Lift FAQs

How does the MyCreditLift program help me as a resident?

The MyCreditLift program helps build credit by reporting your rental payments to the three major credit bureaus. For many renters, rent is often their largest monthly recurring expense, yet less than 2% of rent in the United States is positively reported to the credit bureaus. By reporting this data, you
are rewarded for paying your rent on time and in full. This can positively impact your credit score and future financial opportunities, such as a home or auto loan.

Why does the MyCreditLift program work?

Your payment history makes up about 35% of your credit score. Paying your bills on time means that you are responsible. Regardless of whether or not you have been late on other payments in the past, reporting your rental payment history with MyCreditLift could make a big difference in improving your
credit. With a good credit score, you will be rewarded with lower interest rates, better odds of approval for large purchases, and lower deposits.

Is there a fee associated with the MyCreditLift program?

All residents enrolled in the program will pay $9 per month.

How long does it take for my rental payments to reflect on my credit report?

Your rental payments are typically reported to the credit bureaus on a monthly basis.

Can I opt-out of the MyCreditLift program if I don't want my rental payments reported?

The MyCreditLift program is designed to benefit you by helping you build credit. Opting out of the program would mean missing out on the opportunity to establish a positive credit history through timely rental payments. But if you’d like to opt out within 30 days of your lease start date or renewal lease start date. To opt-out, please use this link:

*Please note: If one person opts out in a 2+ bed unit, all residents in the unit will automatically opt-out of the program. To utilize the program, all roommates in a unit will need to use the program.

Does MyCreditLift guarantee an improvement in my credit score?

While MyCreditLift can contribute to building a positive credit history, individual credit scores are influenced by various factors. Regular, on-time payments through MyCreditLift can have a positive impact over time.

Will MyCreditLift report late rental payments to the credit bureaus?

There can be a negative impact on your credit history with or without utilizing the MyCreditLift program if you pay rent late.

Can I use MyCreditLift to report past rental payments and improve my credit score retroactively?

MyCreditLift typically reports rental payments from the time of enrollment. It may not be possible to retroactively report past payments, but you can start building positive credit history moving forward.

Can MyCreditLift help me establish credit if I have no credit history?

Yes, MyCreditLift is particularly beneficial for individuals with limited or no credit history, as it allows you to start building credit through regular and timely rental payments.