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Are Fintechs Driving the Reporting of Rent Payments?
Manage episode 389304005 series 2954983
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As many outlets are currently reporting, in many parts of the United States, renting is now far cheaper than buying property. Various economic factors like interest rate hikes and rising costs have created a housing system in which many Americans are renting. But does being excluded from homeownership preclude renters from using those payments to build and improve credit scores?
This week on The SCORE, we’re joined by Kristian Lund from Self Financial. Self is a credit-building platform working to increase economic inclusion and financial resilience through products that make building credit accessible. Kristian joins The SCORE this week to explain the advantages of including alternative data in credit scoring models, such as rental payments, and how it helps people create positive payment history and, in turn, strong credit scores.
Listen in as Kristian walks through how consumers can use positive financial history to build credit and move towards financial inclusion.
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