Hello Joe,
I appreciate your comments. However, you misunderstand a few points. Please allow me to clarify those:
Joe, one of the biggest and most reaccuring payments consumers make is their rent payment. Until now, no one has been able to receive credit for making those large monthly payments. I know plenty of wealthy people with bad credit who basically live on cash who would do this to improve their credit. Some of the people that have already signed up have monthly rent payments as high as $3500. Not exactly poor. Yes, the initial sign up, including paperwork, processing, establishing the account with the credit bureaus is $149. However, once the consumer is signed up, we send them back a $100 prepaid MasterCard as a bonus, therefore their cost is only $49. Every month that they pay the $9 fee, their rent payments are reported.
This is absolutely incorrect. There are absolutely NO FEES to landlords of any kind, period. Please refer to the FAQ section of the RentCounts.com website.
Joe, we are not intermediaries. We do not collect the money. Our support staff contacts the landlords and verifies timely rent payments made by each renter. Therefore there is no delay in you collecting your money. To the contrary, most of the landlords who have heard of the service are referring their renters to us. Think about it...as a landlord, what better incentive to get your rent on time than to tell your tenants, "remember, everytime you pay on time, I am able to report positively and help you build your credit"?
Joe, again, we do not charge you any fees or collect any money on your behalf. Quite the opposite, we can be used as an incentive to actually get you rent on time.
While not everyone will be able to obtain our service, those that can will definitely start to see an improvement in the credit score (if they pay on time) which will manifest itself in new or higher credit lines, the ability to eventually move to a better place, or even begin the quest for a mortgage of their own. Run the idea past your tenants and see what they think.
I appreciate your comments and I hope I have been able to explain some of the misunderstandings.
Regards,
T. Sumrall
CFS Card Services
AIM: LinxTy
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