Will you report my membership payments to the Credit Bureaus?

We currently report payments to Equifax and TransUnion via a third-party service provider, Esusu Financial. 

Why do you report membership payments to the Credit Bureaus?

Community Room Rental reports Membership payments to help our Members build their credit histories and improve their credit scores. Through our Esusu partnership, over 2,700 Members have established a credit score for the very first time. 95% of Community Room Rental Members have seen an improvement in their credit. The average score increase of those Members was 40 points. 

How will my membership payments appear on my credit report?

Community Room Rental will appear as the reporting data furnisher on your Equifax credit report. Esusu Financial will appear as the reporting data furnisher on your TransUnion credit report.

How long will it take for my membership payments to appear on my credit report?

Esusu reports payments to the bureaus monthly, and the bureaus factor that data into credit scores after completing their own quality control reviews. It typically takes between 2 to 8 weeks before a member’s reported payments will appear on their credit report. 

How much will my credit score change due to membership reporting?

It is impossible to promise or predict a certain score increase because every person has a unique credit risk profile, and multiple factors impact a person’s score. That said, below are some generalizations to keep in mind:

• People who verify 2 years of payment history and who already have established credit could potentially see an increase of 25-50 points if their payment history does not contain any late payments.
• People who do not have a credit score at all could potentially jump up to the mid-600s by adding 2 years of payments to their credit file.