Rent payments now appear on Experian credit reports

Even if you use traditional credit very little, now you can build a good history by having your rent payments reported to the credit bureau.

By Blake Ellis, staff reporterFebruary 15, 2011: 11:18 AM ET

NEW YORK (CNNMoney) — For those of you without credit cards or mortgages, there’s a new way to build your credit: Pay your rent on time.

In January, credit reporting agency Experian started including residential rental payment data on its credit reports. Previously, only mortgage payments were recorded because banks report monthly to the credit bureau. read more