Brickk partners TransUnion to help UK renters build credit history

This partnership between Brickk and TransUnion directly impacts how your future customers qualify for financing. Traditionally, rent payments—the largest monthly expense for most consumers—have been invisible to credit bureaus. This initiative changes that by allowing UK renters to report their payment history to TransUnion. For retailers and service providers, this is a positive development for long-term sales. As more consumers use platforms like Brickk to boost their credit scores, your pool of 'financeable' customers grows. Better credit profiles mean higher approval rates and lower interest rates for your shoppers. When a customer has a documented history of on-time rent payments, they are more likely to clear the hurdles set by your primary and secondary lenders. This is particularly relevant for businesses targeting younger demographics or those in the 'near-prime' category. While this specific news is UK-based, it mirrors a global trend of 'alternative data' becoming mainstream. Expect to see more of your customers bringing stronger credit profiles to the table because they are finally getting credit for the bills they already pay every month.

Source: Finextra — Lending

← Return to the library· Submit a correction