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Learn how Scorebuilder can help build your credit health
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How it works

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First, you need to opt-in to Scorebuilder when you activate RentPay. It’s completely optional, and you can opt-out at any time.

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With Scorebuilder, you can build your credit score and get access to up to one week's rent. Fees & charges, T&Cs apply.

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Your account status is reported each month to one of Australia’s largest credit reporting agencies, which may have a positive impact on your credit score*.
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FAQs

What is Scorebuilder?

Scorebuilder is a unique RentPay feature. With Scorebuilder, you may build your credit score and access up to one week's rent through a line of credit. Every month you hold an open Scorebuilder line of credit, even if you don't draw from it, we'll report your account status to Equifax, one of Australia's largest credit reporting bodies.

When you apply for Scorebuilder, in order to comply with regulations, there will be an initial qualification period of 30-90 days prior to the opening of the line of credit and your access to the funds.

To maintain your Scorebuilder eligibility, it's important that you continue using RentPay for your rent payments.

Need to tap into the line of credit? The funds will be deposited into your RentPay wallet and can be paid out. The funds you borrow need to be paid back over four (4) fortnights using direct debit. It's important to ensure you don't miss a payment, as it could negatively affect your credit score.

If you're diligent about paying back what you borrow (or don't borrow anything at all), your credit score may improve.

Scorebuilder is a continuing credit contract provided by One Card Credit Pty Ltd (ABN 14 120 306 676, Australian Credit Licence Number 388941).

What is the qualification period?

Before your Scorebuilder line of credit opens and you can access the funds, a qualification period of 30-90 days is required to comply with our regulatory obligations. To stay eligible for Scorebuilder, ensure you keep using RentPay to make your rent payments.

How do I use Scorebuilder?

Ready to get started? Activate your RentPay account and then apply for Scorebuilder through the RentPay dashboard.

After your application, there's an initial 30-90 day qualification period before your line of credit is opened and you can access the funds.

And don't forget, to keep your eligibility for Scorebuilder, it's important to keep making your rent payments through RentPay.

How much does it cost?

To use Scorebuilder, you'll be charged a one-time $3 application fee, a monthly $1 account fee, and a $4 usage fee for every fortnight when you have an outstanding balance.

The $4 usage fee doesn’t apply if your balance is $0. If you miss a scheduled repayment on your line of credit, a $15 missed payment fee will be charged.

Make sure you review the Scorebuilder *Terms & Conditions* before you get started.

How much can I borrow?

You can access up to one week's rent (with a maximum of $700) through the Scorebuilder line of credit.

If your credit score is low, you may not immediately qualify for the full amount or may not be approved at all.

To improve your chances, ensure your rent and fees are paid on time every time for three (3) months to demonstrate good conduct and your account may be eligible for an upgrade.

How long does it take?

Applying for Scorebuilder is quick and easy through the RentPay app. Before you get access to the funds from your line of credit, there's an initial qualification period of 30-90 days after you've completed your application. This helps us meet our regulatory obligations.

Remember, to stay eligible for Scorebuilder, continue using RentPay to make your rent payments.

Important: If you are experiencing financial hardship and need immediate assistance to make your regular rent payments, the Scorebuilder line of credit is not the right solution for you. We recommend you seek help from your local Tenancy Advice service or contact the National Debt Hotline at 1800 007 007 or via https://ndh.org.au for further assistance.

Can I use Scorebuilder if I can’t afford to pay my rent?

No. Scorebuilder is not designed to cover regular rent payments. It's a feature for RentPay customers who usually have no trouble paying their rent, but may need a short-term, interest-free financing option for unexpected expenses.

If you are experiencing financial difficulties and need immediate assistance with your rent payments, we recommend reaching out to your local Tenancy Advice service or contacting the National Debt Hotline at 1800 007 007 or https://ndh.org.au/ for further support.

How much will my score be improved by using Scorebuilder?

Scorebuilder's impact on your credit score will depend on various factors, including other sources of credit outside of RentPay, such as credit cards or loan repayments.

Does Scorebuilder use a credit check in the approval process?

The approval process for Scorebuilder involves a soft credit check, which will not leave a record on your credit report. However, once the line of credit is opened, it will appear as a liability on your credit file with the narration 'One Card Credit (RentPay)'.

Does Scorebuilder leave a record on my credit file?

Yes, having a Scorebuilder line of credit will be reflected on your credit file. You will see a record labelled 'One Card Credit (RentPay)' on your credit report.

What if I miss a payment – will it have a negative impact on my credit score?

If you've withdrawn funds from the Scorebuilder line of credit, a missed or late repayment may appear on your credit report, depending on the repayment delay.

Think you'll miss a repayment? Reach out to us in advance as we may be able to schedule the payment for you. Find out more about how credit scores work here.

What are the repayment options?

If you've used the Scorebuilder line of credit, your repayments will be automatically deducted fortnightly from the account you nominated when you withdrew the funds.

Repayments will start two (2) weeks from when you first draw on your line of credit, and will be confirmed with you in-app when you complete the withdrawal.

Can I change my payments?

If your circumstances unexpectedly change, we recognise that you may need to adjust your repayments. In this case, you can contact One Card Credit on 1300 776 856 or send an email to [email protected].

The sooner you let us know, the faster we can find an alternative payment option and help get you back on track.

How do I update my information?

Updating your personal information is a breeze! You can easily make changes to your information by accessing the Settings tab in the RentPay app.
©RentPay 2022
©RentPay 2022. RentPay Technology Pty Ltd ACN 636 254 709 (Australian Credit Licence: 541127) is an Authorised Representative (ARN: 001286725) of Flexewallet Pty Ltd – Australian Financial Services Licence number: 448066
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