Paying rent can now raise your credit score

College students, take note! If you are living off-campus paying rent in an apartment, it can be good for your credit score.

Only one credit agency is reporting it, however. Experian started doing it in December 2011. Also, the property manager or management company needs to upload the report. If your apartment is a rather large complex, or one of many managed by the same company, it is probably easier to see that it gets uploaded. Just ask!

If a college student is indeed paying rent, and it gets uploaded to your file, VantageScore will count it and factor it in to your credit score. VantageScore is the one that is used by Experian.

If your name is on the lease or rental agreement, you get the credit. This is actually a way for parents to help their college student get a good credit score. Just make sure the student's name is on the lease. That way, even if you are sending money, or financial aid package covers it, the student still benefits. Nobody knows who is coming up with the cash.

RentReporters.com has a similar service, but it will cost you. You pay a small fee to set it up, as well as a monthly fee. Your landlord will upload your rental data to them, and they will send it out to credit companies. If your landlord or manager does not want to participate, you are refunded the money.

College students especially can benefit from rental credi.