What is RentGrow?
RentGrow is a company that provides resident screening services to property management firms. They help property owners and managers assess potential tenants by offering a variety of services, including credit checks, rental history verification, and criminal background checks. RentGrow gathers information from multiple sources, such as credit reporting agencies, rental history databases, and public records, to generate detailed tenant screening reports.
If you’ve applied for an apartment or acted as a cosigner, you might see RentGrow listed on your credit report as a hard inquiry.
Why RentGrow Appears on Your Credit Report
RentGrow appears on your credit report as a hard inquiry when you submit an application for a rental property, and the landlord uses RentGrow’s screening services. This hard inquiry indicates that your credit history was reviewed as part of the tenant screening process, helping the property manager decide whether you are a suitable tenant.
Even if your application is not successful, the inquiry will still be recorded on your credit report, showing that you applied for a rental property.
Impact of RentGrow Inquiries on Your Credit Score
A hard inquiry from RentGrow can cause a slight reduction in your credit score, typically by a few points. While a single inquiry might not have a major effect, multiple hard inquiries within a short period can accumulate, potentially leading to a more noticeable drop in your score. Lenders and property managers might see numerous inquiries as a sign that you’re actively seeking credit, which could raise concerns about your financial situation.
To protect your credit score, it’s advisable to limit the number of applications you submit and only apply for rentals when necessary.
How Long RentGrow Stays on Your Credit Report
Hard inquiries like those from RentGrow remain on your credit report for up to two years. During this time, they are visible to other lenders and property managers who may review your credit history. Although the impact of a hard inquiry on your score diminishes over time, the inquiry will stay on your report until it is automatically removed after 24 months.
Regularly monitoring your credit report can help you keep track of these inquiries and manage your credit profile effectively.
Dealing with Unauthorized RentGrow Inquiries
If you notice a RentGrow inquiry on your credit report that you didn’t authorize, it’s essential to investigate the matter promptly. Unauthorized inquiries could indicate a mistake or potential fraud. Here’s what you can do:
- Contact RentGrow: Reach out to RentGrow to verify the details of the inquiry. They can confirm whether the inquiry was made correctly or if there was an error.
- Dispute the inquiry with the credit bureaus: If the inquiry was unauthorized, file a dispute with the major credit bureaus—Equifax, Experian, and TransUnion. Successfully removing unauthorized inquiries can help protect your credit score and ensure your report is accurate.
- Consider additional protective measures: If you suspect identity theft, placing a fraud alert or credit freeze on your report can help prevent further unauthorized activity.
RentGrow Contact Information
Address:
RentGrow, Inc.
177 Huntington Ave Ste 1730
Boston, MA 02115-3153
Phone number: (800) 898-1351
Professional Help with Credit Report Inquiries
If you’re struggling with negative items on your credit report, professional help is available. Credit Saint, for example, specializes in removing inquiries and other inaccurate negative marks on credit reports.
They have a long history of success and can help you through the process of disputing and potentially removing items such as late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
Take Action to Improve Your Credit Score
Taking control of your credit report and addressing any issues, including RentGrow inquiries, is an important step towards improving your overall credit health. Seeking assistance from a reputable credit repair company like Credit Saint can help you achieve your goals and make a real difference in your financial future.
Visit their website and fill out the form to see what they can do for you. Remember that maintaining a healthy credit score is vital for accessing the best financial opportunities, from renting a home to securing a mortgage or obtaining favorable interest rates on loans and credit cards.
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