A newspaper talking about credit scores.

When it comes to looking for a new apartment, there are many things that you can do to prepare. That being said, when you finally find an apartment, it is important that you have the ability to pass a credit check and sign your lease right away before anyone else can get the unit that you want.

One of the most common reasons that lease applications are rejected is that the applicant’s credit was not high enough for their application to be approved.  So what can you do to make sure that your credit is ready? Continue reading to learn more.

How Do I Know If The Complex Is Going To Check My Credit Score?

When it comes to apartment complexes, and even landlords for that matter, it is a safe assumption to think that they will request your credit history before deciding whether or not to accept your application. That being said, some might not — meaning that you should always call to ask.

When you contact the apartment complex that you are considering submitting your application, it is important to ask two questions — “Do you require a credit check to be conducted before you are able to accept my application?” and “What is the credit range that you use to determine if you will accept an application or not?” Once they respond, you now know what your credit score needs to be, as well as if you would, or would not, make the cutoff.

Why Is The Apartment Complex Checking My Credit?

When the apartment complex that you are interested in living at decides to check your credit, it is not because they don’t trust you — they simply want to make sure that you have a stable financial history before they enter a contract with you.  

If your credit score is above the threshold that they require to approve an application, it shows the apartment management staff that you can 1) you have the ability to pay your bills on time (or within a reasonable time and 2) you have a proven history of paying your bills on time. Essentially, they ask to check your credit because they can see:

  • If you have consistent payment habits
  • Your rental history
  • If you have a pending bankruptcy
  • If you have considerable debts that might affect your ability to pay rent

How Do I Check  My Credit Score?

So you are shopping for an apartment for rent in Denver. You have found the place that you want to apply, and they have notified you that they need to conduct a credit check. But there is only one problem — you don’t know what your credit score is.

Don’t panic, you aren’t alone. In fact, most people would not know their current credit score if you asked them. Because credit is not something that people check daily or weekly, there are tools that can be used a couple of times a year when you want to check your credit — especially if you need to make sure it is high enough for a purchase or agreement to be approved.

There are a couple of ways that you can check your credit. The first way is to log on to the website or mobile application for the bank or company in which your credit card is associated with. Second, you can choose from a number of third-party applications like CreditKarma, TransUnion, Experian and more. Within seconds you will know if your credit score is high enough to satisfy the approval of your rental application.

Won’t Checking My Credit Score Make It Go Down?

It is a common misconception that checking your credit score can deduct points from your score. While this is true, it is not true in the sense that people think of most. In fact, if you are checking your credit on your phone or computer, you will likely never affect your score. However, if you have a number of hard pulls, meaning a credit history request filed by another company or person, you might not be so lucky.  If there is an influx in hard pull inquiries from your landlord or a lender that is looking to increase your credit, there will be no change to your credit score. If hard pulls are requested often, your score might become lower with each inquiry.

Apply For Our Apartments For Rent In Denver Today!

If you are looking for an apartment in the Denver, North Carolina area, we urge you to swing by our beautiful apartment community.  If you like what you see, we hope that you submit a rental application for either the Riverwalk or Riverwalk II locations.

We hope that today’s blog post has helped you to better understand how to prepare for your new apartment by checking and fixing your credit check. We look forward to seeing you!

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