Just looking for people’s views on Credit Ladder. Credit Ladder allows you to pay a company your rent and then they forward this onto your landlord / housing association. However, in doing this they (Credit Ladder) monitor your regular payments and this increases your credit score.
Just looking for advantages/disadvantages of this and people’s experiences.
I have read somewhere that doing this won’t really make a difference to your credit score. As credit lenders don’t take “regular rent payments” as sustainable/sufficient enough. But this could change in the future? So is it worth it?
One of my concerns is something happening to Credit Ladder and I’ve sent them my rent and then I’m left in debt with my landlord and not being able to find the funds.
So my decision in doing this is 50/50 rather than 80/20 etc.