Scorebuilder is a unique RentPay feature that helps improve your credit score. Each month that you have the Scorebuilder feature, we report your payment status to one of Australia’s largest credit reporting agencies.
If you’re making regular payments, reporting that to the credit reporting agency over time may have a positive impact on your credit score.
Scorebuilder is a credit facility provided in partnership with One Card Credit Pty Ltd (Australian Credit Licence (ACL) number 388941). You may see One Card Credit appear on your credit report if you use Scorebuilder.
To view the terms and conditions for Scorebuilder, visit https://www.rentpay.com.au/scorebuilder-and-safetynet-terms-and-conditions/
To use Scorebuilder you must first activate your RentPay account, and then opt-in for the Scorebuilder feature either via the dashboard or when you finish activation.
There’s a one-time $3 fee to set-up Scorebuilder and then $1 per month while you keep it active. Being opted in to Scorebuilder means you’re also able to access Safetynet.
The impact of Scorebuilder and Safetynet on your credit score will depend on a range of factors, including other credit facilities you may have outside of RentPay that can also impact your score such as credit card or loan repayments.
If you have opted in to Scorebuilder, a late or missed payment might be recorded on your credit report, depending on how late the payment was. Both late payments and defaults could have a negative impact on your credit score.
If you think you will miss a payment, please contact us in advance as we may be able to reschedule the payment for you or suggest an alternative option. If eligible, you could also consider accessing the Safetynet feature of your account. Generally speaking, the sooner you get your account back on track the better the chance of minimising any impact on your score. You can find out more about how credit scores work here.
Yes, you will see a record with the narration “One Card Credit (RentPay)” on your credit report if you have opted in to Scorebuilder.
Updating your personal information is quick and easy! Simply update your information in the Settings tab within the RentPay app.