When a landlords looks at credit is it the score that bothers them or what is actually on the report.

Question

I at the moment have a 513 as a credit score. my credit report has one flaw. A 30 day late payment on my credit card. I had my first credit card last year. I have a perfect record before that.

Answer 1

I used to rent an apartment.  When I reviewed applicants credit information there are several factors to consider.

1. Age of Applicant

2. Years working and working at each employer

3. Earnings - Get an indirect gauge by the Employment Position

4. Payment history - past residences, late payment, non-payment

5. Perform a relative comparison with other applicants and choose the one I deem as the lowest risk.

Answer 2

For every landlord there is a different answer. However, when I was looking at applications I was looking for evictions, criminal history and indications of major credit issues. A few minor lates would not have been bad enough for me.

Answer 3

They are looking at your credit score.  They somehow translate this into or link it to your ability to pay.  But, that's not the worst, insurance companies look at your score when you ask for a quote, like your credit score is in any way related to your driving skills.  Worst possibly, hospitals now can look at your credit score before you can be treated, they say it is under the auspices of seeing who is qualified for "charity" care.