Credit for paying rent on time

Residents who rent a home often have lower credit ratings than those who own. This is often because mortgage payments count towards your credit rating but rental payments do not. 

We work with Experian and Big Issue to help you improve your credit rating and make the most of your rent payments, through the Rental Exchange.

Why are credit ratings important?

Higher credit ratings mean easier access to loans and other affordable credit.

How does Rental Exchange work?

Rental Exchange works using your payment history. We will provide information to Rental Exchange, such as how much your rent is and how much of it you pay. Rental Exchange will add this information to what they already know about your payments to have a better idea of how reliable you are with credit.

For most residents, this will improve your credit rating and make it easier to prove your identity online. Residents who fail to pay their rent may see their credit rating get worse.

Is your information safe?

We’ll share your information securely with Rental Exchange, complying with all Data Protection laws.

Can you opt-out?

If you are a tenant with us and not want your data to be shared, please email performance& with your name and address and include the words with the subject line 'Rental Exchange opt-out'. If you have no access to email you can also call 0203 815 0000 and ask to speak to BID about the Rental Exchange programme.

Want to learn more?

You can find out more on the Experian and Money Advice Service websites.