The Experian Rental Exchange is a way to strengthen your credit report without you needing to take on new credit.
We are writing to all customers to notify you of our plans join the new scheme, which enables registered landlords to share details about the rent you pay with Experian on a monthly basis.
By incorporating rent payments into your credit file you will then be recognised for paying your rent on time, helping you build your credit score. (In the same way homeowners are recognised for paying their mortgages each month).
How will this benefit S4B customers?
By building your credit score it will prove to companies that you’re a reliable ‘potential customer’, and by having additional information on your credit file, it can also make it quicker and easier to:
- Open a new bank account
- Get a new credit card
- Have a loan application approved
- Arrange a better utilities tariff, or qualify to pay for gas/electricity via a non-prepay tariff
- Receive better mobile phone rates and more…
We have included a helpful FAQ here.
We will be sharing the information Experian as outlined in the letter on 31st January 2020, and each month after that (no further action is required).
Should you wish to opt out prior to this date please Contact Us.