Rent to own reporting to credit bureaus?

One of the ways I was told I can improve my credit score is by using a “rent to own” type of business. I have heard if you fail to pay your lease you will be negatively reported, however; if you complete your lease fully and on time does it positively effect your rating? If so which companies in particular National rent to own, Aaron’s,Rent-a-center…ect or any of them

17 thoughts on “Rent to own reporting to credit bureaus?

  1. Common Sense says:

    You were told wrong. They do not report.

    • Just aggravated says:

      They do not report to credit companies. If you need that clarified call the corporate office and speak to Mrs. Wilson 18004359544 ext 3926. I know because I did and needed them to report all 15 months of my payments to be approved for a loan for a house. She informed me they only report the first months review. BS

  2. I would not do this since you are buying things at a higher rate then going to a store and getting financed by the store. I have known people to pay 3 times as much for gaming equipment instead of going to a store. It would be a lot better to put it on your credit card and pay it off as soon as you can from a regular store.

    I also don’t think these companies have to report your successful payments. If you are really worried about this, I would go to American General Financing and use them to purchase furniture etc since they do report to your credit reports and I have used them in the past.

  3. ∞infiniti∞ says:

    You are correct. Rent-to-own doesn’t improve your credit since rent-to-own companies do not extending you credit.
    Rent-to-own, like telephone and utility companies don’t report to the credit bureaus. If you default, however, they might report your debt to a collection agency that does.

    Keep in mind that the information you give rent-to-own companies can be skipped-traced.

    • That’s false. A lot of people on here have NO clue what you are talking about obviously because I have rented from Aaron’s twice and paid my account off both times and BOTH times they were reported and still are on my credit report. Yes I over paid like hell but I didn’t have credit and it helped me out in the end.So before you guys go telling people the wrong info get your facts right

    • Keisha smith says:

      Telephone and utility companies do report on your credit report, especially if they go unpaid. I’ve heard that they report once they are paid off. Anything positive on your report helps, anything negative hurts. If aarons report to credit bureaus it is a good place to start to build credit because someone with no credit, little, credit, or bad credit will have a hard time getting a credit card.

  4. Rent to own places don’t report to the credit bureau so they do nothing to help your score.

    Additionally, you will pay 3 or 4 or more times what you would pay for the same item at a non-rent to own store. Even if you had to pay interest on a credit card or loan, it would be much cheaper else where.

  5. My Take on It says:

    I don’t believe any of those rent to own stores report.

  6. Yes Aaron does report to credit I bought a 60″ flat screen and a new entertainment center and paid it off early and my credit jumped up because they reported it. This is not the first time I have done this just make sure to go to aaron’s and not rent a center. and FYI the tv and entertainment center I got total combined was under $1600.00 and at every department store i priced it at i would have paid $3500.00

  7. It does cost more but What Aarons, Fingerhut and all of these places really do is sell credit with little bonuses. It can be hard to build credit and this is a good start

  8. Ask first but most of them DO report to the credit bureau for positive accounts, some report every payment some report monthly. Depends ask any worker at the store they will know

  9. Aaron rent a center does report your account once your account is paid in full that’s the only way they report it to the credit bureuas they report it as a installment loan with 12- 18-24 month whatever your agreement is as paid in full it will help your credit profile

  10. your a lying douchebag.u work for arrons or u a professinal positive poster.arrons does report your on time payments.u payed the 3500 for the tv and furniture.not the other way around.what a lying piece of crap u are.tyring to trick folks into getting screwed by arrons.

  11. I have paid off 8 iteams from aarons in pa. They all have been reported on my credit, i can show a copy of one of the line iteams for proof. They are jerks if your ever late, it just shows paid no history just a positive line iteam and what the amount was.

  12. Our local Aaron’s store reports to Experian on payout
    for each account that you have.

  13. My mom had bought furniture from Aarons here in NYC and she paid of the account in full. When I ran her credit report Aarons did show up on it as a closed account. I have considered possibly taking out a small item from aarons just to possibly boost my report up. I’m very young (only 19) and all I have is one Credit Card with a 500 dollar limit. I’m still not 100 percent sure if I want to over pay for something but I know if and when I pay it , it will end up on my report possibly boosting up my score or showing more credit history. Still undecided but atleast in NYC Aarons does report. Just my two cents

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