CreditLadder can deliver financial fairness to millions of tenants by ensuring their rent payment each month builds their Experian credit history. An improved credit history should allow tenants to save money, and ultimately may also help them on to the housing ladder.
You can now receive a £5 Amazon voucher for setting up your rent payments, which will appear on your Experian Credit Score.
What are the benefits of reporting your rent?
Reporting your on-time rent payments to credit agencies can have many benefits including the opportunity to improve your credit score and the possibility to access more affordable credit, for example better rates on loans and credit cards and better priced utility tariffs.
Rent is reported into the Rental Exchange Scheme. Research from Experian on 1.2 million tenants currently part of the scheme shows that “79% of tenants would have seen a noticeable improvement in their credit score” *Experian
How does CreditLadder work
CreditLadder identifies monthly rent payments using Open Banking technology. The payments are reported to the Experian Rental Exchange and they will be added to your tenant’s credit history.
Let’s get you on the CreditLadder
We will ask you some simple questions about you and your tenancy. This should take no longer than 3-4 minutes. Don’t worry if you don’t have all the information to hand, you can always save and resume at any time.
Connect your bank
Sign up by logging into the bank account from where you pay your rent. Grant read-only access and we can verify your rent payment each month. We report the rent to Experian monthly helping to improve your credit history. This can help you access better finance deals, saving you money.
Which banks do we support? Barclays, Co-Operative Bank, First Direct, Halifax, HSBC, Lloyds Bank, Metro Bank, Monzo, Nationwide, Natwest, RBS, Santander, Starling and TSB. If your current bank is not supported please email firstname.lastname@example.org with the name of your bank and we will contact you once it is.