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A: Flex reports directly to TransUnion. We are looking to expand to Experian and Equifax shortly. Q: Can Flex Rent Reporting hurt my credit score? A: No, Flex will only report successful rent payments as a way to help build-up your credit history.
There is no interest, hidden fees, or penalties assessed by Flex. What are the resident qualifications? No outstanding rent balance. Minimum credit score of 500.
How Does Flex Work? Flex pays your rent in 4 easy steps: Step 1: Flex Receives Your Rent Bill. Any additional charges for that month (e.g., utilities) will be included in your bill total. Step 2: 1st Payment Authorization. ... Rent Payment Processed. ... Step 4: Your 2nd Payment is Scheduled.
We evaluate your eligibility using a variety of factors including your credit report information, your banking information, and other information about your payment history. Most customers with fair or better credit will qualify for Flex. If you failed to qualify we'll send you a letter detailing exactly why.
Payments are automatically deducted from your checking account or your MasterCard, Discover Card or American Express. Flex Pay is not a loan program so you won't have interest or finance charges, and there is no credit check.