Whom should I list as my credit reference on my rental application if I have no credit?

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Stilt Team

August 27, 2016 22:05

I am applying to rent a duplex, and the application asks for one personal reference and one credit reference. There's only one problem—I have no credit. Zero. I've never had a credit card; I've always used my debit card. I've never had a car payment; I've always paid cash for all my vehicles. In short, I don't believe in the American cultural notion of spending money that I don't have. So what do I do in this situation? Just leave that section blank?

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  Stilt Team August 27, 2016 22:05 (Edited April 27, 2018 05:24)

  A credit reference is an individual or a document by an individual that can attest to your creditworthiness (mostly required in cases when you don't have enough credit history). 

  Landlords generally ask for credit references from immigrants or international students who want to rent an apartment without a credit history. 

  Since you don’t have credit cards or any other form of lending/credit, you can friends, family members, colleagues etc as credit references. In some cases, your bank may also be a good option. All these options are fairly acceptable for a credit reference.

  The other types of credit references:

  - Credit report: Sometimes, your credit report is also considered as a credit reference depending on who you ask. Some landlords may just want to look at that before they make a final decision to rent you the apartment.

  - Letter of support: This is a letter given to you by someone who has good credit. They are providing you financial support and can also attest to your creditworthiness.

  - Phone bills and other credit products: If you have a phone plan that you pay for every month, that can be a credit reference and help you prove creditworthiness to your landlord.

  - Bank letter: If you have a bank account with sufficient funds, a detailed statement from your checking account can be used as a credit reference.

  About Stilt:

  Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future.

  We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible.

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