💨 Abstract

Renters, often referred to as "Generation Rent," typically pay a significant portion of their income to landlords, which feels like paying someone else's mortgage. While homeowners build credit through mortgage payments, renters don't automatically benefit similarly. However, rent reporting services like CreditLadder and Canopy can report rent payments to credit agencies, boosting tenants' credit scores. These services are easy to set up and beneficial for those not using traditional credit forms.

Courtesy: metro.co.uk