In yet another UK first, CreditLadder now reports rent payments to TransUnion. This means that CreditLadder users can now report their rent payments to Experian, Equifax and TransUnion. This service is unique to CreditLadder and it’s the only way in which rent can be reported to all three of the main Credit Reference Agencies.

With over £500m reported in rent payments so far, CreditLadder has helped thousands of users improve their credit position and credit score. An improved credit score can help you access finance, and finance at better rates.

If you’re currently reporting your rent to just one Credit Reference Agency, CreditLadder highly recommends that you report to all three so you can receive the maximum benefit. To upgrade you can click here.

If you aren't currently reporting your rent to any Credit Reference Agency, you can sign up here.

CreditLadder has also started helping users onto the property ladder through its mortgage service. If you’re interested in seeing if CreditLadder can help you get a mortgage then you can find more information here.

How does CreditLadder work?

Tenants have their rent payments read by CreditLadder using Open Banking enabled APIs. This allows the tenant to have their rental payments added to their credit file, and ultimately help improve their credit history and score. Building up a high credit score has a lot of benefits, including helping you access finance at better rates - this can also help save you money.

CreditLadder can help you improve your credit score

If you want to improve your credit position by reporting your rent payments, CreditLadder is the only way to improve your credit score and position across all four of the main Credit Reference Agencies in the UK, namely Experian, Equifax, TransUnion and Crediva. Building up a high credit score has a lot of benefits, including helping you access finance at better rates - this can also help save you money.

CreditLadder also runs a free mortgage application service in partnership with Tembo which will tell you how much you could borrow.

Remember the information provided in this article is for information purposes only and should not be considered as advice.