Apartments and FICO Credit Scores - Episode #56

Today’s question is whether applying for multiple apartments will ding your FICO credit score. I understand the logic here. If applying for multiple credit cards or loans can ding your credit score, then it would make sense that this would happen for applying for multiple apartments. But this is incorrect.

First, most apartments or apartment corporations do not report anything to the credit reporting agencies. This is because they have their own risk system — i.e. your security deposit — to protect against a default or lack of payment. If they do report information, they are reporting payment history only. I’ve never heard of application data being reported by apartment companies to the credit reporting agencies.

There are two scenarios for people regarding their FICO scores. Some of us want this info reported as we are trying to build our credit histories. Others are not so keen as they have good credit already and worrying about credit lateness

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