Credit bureaus are testing the inclusion of rent payments in credit scores, saying it’s a positive move launched by Ottawa. But critics fear the move could compound the issues faced
I don’t think it’s been announced exactly how this will work but in general nothing is reported to credit bureaus until it’s at least 30 days past due. So it’s not like being a week late paying your rent once is going to trash your credit score.
And yeah, if you’re more than a month behind on rent that seems like it’s probably a bad sign for your creditworthiness?
Missed rent payments could soon damage your credit score — and tenants’ advocates are very concerned (www.thestar.com)
Credit bureaus are testing the inclusion of rent payments in credit scores, saying it’s a positive move launched by Ottawa. But critics fear the move could compound the issues faced