A recent VantageScore study explores the impact of adding rent and utility payment data to consumer credit files. The study revealed that the addition of this data would improve credit scores, especially for consumers who have limited information in their credit files. While the impact varies depending on a person's overall credit profile, simulated results show that scores significantly increased for consumers with less recent credit activity or limited credit histories. A few high-level study findings include:

• Consumers with six months or fewer of credit history could see as much as an 80-point improvement to their VantageScore.
• Consumers with prior delinquencies could see score improvements from adding rent and utility accounts to their files.
• Consumers who are unscored due to the lack of information in their credit files (credit invisibles) obtain a credit score by adding one or more rent or utility accounts.

Upon release of the whitepaper Silvio Tavares, President & CEO of VantageScore, said, "Lenders are reexamining their underwriting processes to make lending decisions more precise, profitable, and inclusive. This research confirms that increased reporting of rent and utility payments can help." This study and other recent developments further our excitement as we see more public and private institutions stepping up to make rent reporting an accessible credit-building strategy for residents. For more information, download the full results of the VantageScore study here.