Advantage of Adding Rent and Utility Data whitepaper


Date: December 06, 2021

There is an opportunity to capture greater insights about consumers’ established record of managing their rental, telecommunication, and utility related financial obligations as part of their overall credit history. The inclusion of this type of information in the credit file will be particularly beneficial to consumers who otherwise have limited credit experience, allowing these consumers to have their history of complying with these financial obligations to also be included in their credit profiles and their credit scores. Ultimately, increased reporting of rent, utility and telecommunications related data in credit files in a standardized fashion will also allow credit scoring models and other decisioning tools to leverage these types of data to an even greater degree in the algorithms, leading to enhanced accuracy in risk assessments and overall better decisions.

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