Paying rent to parents will help credit report?
Hi Terry,
How can I ensure that paying rent to my parents will show up n my credit report and improve my credit score (report)? Thank you!
Terry Says
Paying rent to your parents WONT show up on your credit report! They are not a reporting financial firm!
You need to get a “secured” credit card from a major bank. You open a savings a count with a deposit of at least $500 or $1000 and they give you a credit card with that amount as your spending limit.
Then charge something at least once a month, and when the credit card bill comes you must pay on time and the full balance. That’s how you build credit,
Search for a secured card at Bankrate.com
https://www.bankrate.com/finance/credit-cards/secured/
