Support over email
Email us any time at ask@levelcredit.com
Support via chat
Chat with us in real time.
Learn
When your rent is reported to major credit bureaus, it shows up on your credit report as a new tradeline with positive information. A tradeline is simply another name for an open account on your credit report. Having that additional tradeline on your report can affect your credit score since more positive data can be used to calculate your score. The impact is largest for those with no credit or a low score, especially if it’s due to a thin credit record (ie, if the bureaus don’t have enough data on file for you).
LevelCredit reports only verified and accurate data to the credit bureaus. If there is a month where a rent payment is not automatically found, LevelCredit will work with you and the property manager to verify this payment. This will not negatively affect your score unless we determine that the payment was in fact missed and or you moved out with an open balance. You can log in to your LevelCredit account at any time to search for your payment. Please reach out to us if you cannot find the payment, and we'd be happy to help.
No problem. You might pay a slightly different amount each month if your utilities are included in your rent, or if you have to pay an additional fee to your landlord. Although your base rent is what we report as paid to the bureaus each month, you can still match a transaction for slightly more or less. Keep in mind that if your rent amount is very different from the initial transaction you match, you may have to log in and re-match your next transaction. We are committed to reporting accurate information only. If we detect fraudulent reporting, your tradeline will be removed.
Yes. They will need their own, separate LevelCredit account and subscription. They will also need to be able to log in to the bank account where the rent transaction is paid. If you both make a payment from the same bank account, they must be a cosigner on the account. If you each pay a portion of the rent from different accounts, it’s even easier. They just log in using their own bank account and match their portion of the payment.
When we find payments from known electric, gas, water, and wireless cell phone companies, we can report those too! Currently, we report these payments to TransUnion.
Our system will automatically search for any previous rental payments from the bank account you have connected to LevelCredit. We will show you which months are available for past payment reporting, and you will have the option to purchase past payment reporting for a one-time cost. The cost is based on the number of months available, and we are able to verify and report up to 24 months.
LevelCredit will report your payment to the bureaus the next day after the payment has been verified. It usually takes at least two weeks for the credit bureaus to update your credit report.
You may continue to pay your rent the same way that you always have. This could include direct deposit, your property manager's online payment portal, Venmo, Zelle, or PayPal. You will need to connect to the bank account you use for these payments, and confirm the payments we have detected. Our system will automatically search for these payments each month using advanced matching technology, and report them to major credit bureaus as we find them. There is a monthly subscription fee each month to verify and report this payment.
We cannot report cash payments at this time. We apologize for the inconvenience.
Enterprise customer? Visit RentTrack support
The credit reporting and scoring industry is at an inflection point as more and more people find themselves either...
Read moreWorking on your credit score is a great goal - after all, a strong score opens tons of financial doors for you. Before...
Read morePaying your rent on time is one of the most responsible habits a renter can have. However, this positive behaviour –...
Read moreYour credit score is a number between 300 and 850 calculated from information that’s on your credit report, including...
Read moreNo matter how old you are, building and maintaining a strong credit score can be tricky. But as you know, it’s well...
Read moreWhether it’s spending a lazy Sunday soaking up the sun at Barton Springs or hitting up brunch at local favorite Snooze,...
Read moreEmail us any time at ask@levelcredit.com
Chat with us in real time.