The Rental Exchange
The Rental Exchange is a way for tenants’ rent payments to be counted towards their credit score in a similar way to mortgage payments are for homeowners. The scheme is a way to strengthen your credit report without you needing to take on new credit. It enables us to share details about the rent you pay with Experian on a monthly basis. This is then included in your credit report, meaning you will be recognised for paying your rent on time.
How will I benefit?
The Rental Exchange helps you create an online history of your rental payments. It’ll prove to companies that you’re a reliable potential customer by proving who you are and where you live.
Having additional information on your credit file can make it quicker and easier to:
- Open a new bank account
- Get a new credit card
- Have a loan application approved
- Shop online
- Arrange a better utilities tariff, or qualify to pay for gas/electricity via a non-prepay tariff
- Receive better mobile phone rates
- Apply for a mortgage