5 ms·

serious Q. how in the world would any credit agency know what day you are paying the rent? In the US, I don't believe any credit agency has insight into my pe

serious Q. how in the world would any credit agency know what day you are paying the rent? In the US, I don't believe any credit agency has insight into my personal bank accounts re size (I think?) or when things are paid to whom they are paid or the like (pretty sure about this). they know about my debts, but unless the landlord puts me into collection, I ca't imagine a reason for my rent appearing on the report (it's been a while since I looked at one, but dont remember seeing them)

mlinhares 5y ago
Credit agencies can 100% know when you pay you rent as the receiver can send this information to them. Credit cards also say when you pay so they can keep track of when you're delinquent or late for payments.
- frumper 5y ago
  I think the person you are replying to is surprised that a landlord would bother reporting that information to a credit agency. I have never heard of that, and after using some of the bigger name property management companies in my area as both a renter and landlord, it just isn't normal here.
- Broken_Hippo 5y ago
  Credit agencies - at least in the US - really don't know when you pay the rent, though, unless the landlord reports this. Same for payments: This is a big part of the reason you cannot simply live within your means [1] and have good credit later in life. You won't. Many companies - utilities, landlords, hospitals, and so on - simply won't report anything unless it is negative. The negatives are usually sending something to in-house collections, a collection agency, or filing a civil suit to get the money. Loans, in general, will report. This includes credit cards. Some of the buy here/pay here places won't report, though, so you get no help on your credit. [1] What I mean by "live within your means" is to simply do things like pay cash for a used car, rent an affordable place, and simply pay your bills on time.
AJRF 5y ago
OP here - Estate agent asked for 6 months bank statements, which I assume was requested by the referencing agency. I don't think is common practise in the U.K, but I asked around and lots of people told me it is more common that the larger agencies ask for it, plus it was for an apartment in a very competitive development so I feel like it might have been a forcing function to reduce the amount of applicants but that is speculation on my part.
- jollybean 5y ago
  "Estate agent asked for 6 months bank statements, " WTF. That's a crazy practice. Paystub maybe, but bank statements? My gosh.
  - squeaky-clean 5y ago
    I've been looking for a new apartment in NYC and the place I applied for wanted 2 month's of paystubs and 2 month's of bank statements. Most agencies I've seen request this or more. It's insane but if you find a place you like things sell so quickly here that you have no choice but to play by their rules or leave the city. Unrelated rant but the reason I've been looking is my current landlord has taken over 35 days to send me a renewal contract. Go figure that 10 minutes after texting him I'm going through the credit check for a new apartment he sends me the updated document.
    - j1dopeman 5y ago
      NY places limits on landlords such as: cannot consider or even look at past evictions, cannot ask for more than a month deposit, and others. Also they completely left landlords out in the cold for rent for over a year and counting. NY is extremely tenant friendly and it can cost a lot if you get a bad tenant. Year(s) of unpaid rent, legal fees, and money for repairs.
  - AJRF 5y ago
    Hey I don't make the rules - but if I don't play by them I lose a place I really wanted to live in. Sucks, but that's life.
devoutsalsa 5y ago
I wonder if they have access to your balances via Plaid, which seems to be popping up all over the dang place. I should look more closely at their terms of service.

mlinhares 5y ago

Credit agencies can 100% know when you pay you rent as the receiver can send this information to them. Credit cards also say when you pay so they can keep track of when you're delinquent or late for payments.

frumper 5y ago
I think the person you are replying to is surprised that a landlord would bother reporting that information to a credit agency. I have never heard of that, and after using some of the bigger name property management companies in my area as both a renter and landlord, it just isn't normal here.
Broken_Hippo 5y ago
Credit agencies - at least in the US - really don't know when you pay the rent, though, unless the landlord reports this. Same for payments: This is a big part of the reason you cannot simply live within your means [1] and have good credit later in life. You won't. Many companies - utilities, landlords, hospitals, and so on - simply won't report anything unless it is negative. The negatives are usually sending something to in-house collections, a collection agency, or filing a civil suit to get the money. Loans, in general, will report. This includes credit cards. Some of the buy here/pay here places won't report, though, so you get no help on your credit. [1] What I mean by "live within your means" is to simply do things like pay cash for a used car, rent an affordable place, and simply pay your bills on time.

AJRF 5y ago

OP here - Estate agent asked for 6 months bank statements, which I assume was requested by the referencing agency. I don't think is common practise in the U.K, but I asked around and lots of people told me it is more common that the larger agencies ask for it, plus it was for an apartment in a very competitive development so I feel like it might have been a forcing function to reduce the amount of applicants but that is speculation on my part.

jollybean 5y ago
"Estate agent asked for 6 months bank statements, " WTF. That's a crazy practice. Paystub maybe, but bank statements? My gosh.
- squeaky-clean 5y ago
  I've been looking for a new apartment in NYC and the place I applied for wanted 2 month's of paystubs and 2 month's of bank statements. Most agencies I've seen request this or more. It's insane but if you find a place you like things sell so quickly here that you have no choice but to play by their rules or leave the city. Unrelated rant but the reason I've been looking is my current landlord has taken over 35 days to send me a renewal contract. Go figure that 10 minutes after texting him I'm going through the credit check for a new apartment he sends me the updated document.
  - j1dopeman 5y ago
    NY places limits on landlords such as: cannot consider or even look at past evictions, cannot ask for more than a month deposit, and others. Also they completely left landlords out in the cold for rent for over a year and counting. NY is extremely tenant friendly and it can cost a lot if you get a bad tenant. Year(s) of unpaid rent, legal fees, and money for repairs.
- AJRF 5y ago
  Hey I don't make the rules - but if I don't play by them I lose a place I really wanted to live in. Sucks, but that's life.

devoutsalsa 5y ago

I wonder if they have access to your balances via Plaid, which seems to be popping up all over the dang place. I should look more closely at their terms of service.