Credit reference companies won’t use your rental payment information in your credit score calculations until they have at least six months of consistent payments data. If you have been renting for six months or more, and Bud can verify your payment history, they will start using it straight away.
If you have less than six months payment history (that Bud can verify) then by signing up to rental recognition Bud will build a ‘rental profile’ on your behalf. Every month when Bud verifies your rental payment, it will add the payment to your profile. Once you have six months of payments Bud will automatically send your data to the credit agency. We will also let you know when we do this so that you can be completely informed about what’s happening with your data.