Your monthly rent payment can go beyond just keeping a roof over your head, it can be tapped for potential benefits such as improving your credit score or earning cash-back rewards. But experts say these financial tools should be used wisely.
Rent reporting can be facilitated by your landlord, or you can sign up with a number of companies offering to report your monthly payments to credit bureaus. Each time you pay rent, you can potentially increase your credit score. There are also opportunities to earn cash back on rent payments, either through credit cards or special programs.
