If you rent your property, typically, your rent payments won’t impact your credit rating. This can be frustrating, especially if you’re an excellent renter and never miss a payment. There are smart companies, such as Canopy, which use open banking where they review the transactions in your bank account and can track your regular rent payments, reporting them to credit reference agencies. Making your rent payments count towards your credit file is a great way of giving it a boost, plus this service is free.
Experian, one of the biggest credit reference agencies, has just released a new, free service that operates similarly, using open banking to track council tax and digital subscription payments (for companies like Netflix) to boost your credit rating further.
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