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Frequently asked questions

Make your rent and utility payments count, starting today.

  • How does this help my credit?
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    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).

  • Will it hurt my credit if LevelCredit doesn't find a payment by the due date?
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    No. LevelCredit reports only verified data to the credit bureaus. If there is a month where a rent payment is not found, LevelCredit will not report any data to the bureaus that month. This will not negatively affect your score. If your payment was not automatically verified, you'll need to log in to your LevelCredit account and confirm which payment to report. Please reach out to us if you cannot find the payment, and we'd be happy to help.

  • What if I pay a different amount each month?
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    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.

  • Can my spouse/roommate/family member build credit too?
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    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.

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FAQ

  • Can I report utility and other payments?
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    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 Equifax.

  • Can I report payments I made more than a month ago?
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    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.

  • How long does it take to report my rental payments?
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    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.

  • How does this service work?
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    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.

  • Can you report cash payments?
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    We cannot report cash payments at this time. We apologize for the inconvenience.

Need more insight?

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Enterprise customer? Visit RentTrack support

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Our solutions

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Credit Builder

An application offering all renters the opportunity to build credit by reporting their largest monthly payments to the major credit bureaus.

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RentTrack Payments

A next-gen online rent payment platform for property managers that simplifies rent collection while helping renters earn credit for payments.

RentTrack Help
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RentTrack Reporting

A credit-building amenity that property managers can offer to their renters; it also includes a revenue share for properties.

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