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Meet Andrew Jemmett of Credit Rent Boost.com in Midtown

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Today we’d like to introduce you to Andrew Jemmett.

Andrew, can you briefly walk us through your story – how you started and how you got to where you are today.
I have been in real estate for 22 years and have over 3,000 clients in my data base, most renters. One day I was driving along and thought how cool it would be if my clients could actually build credit from their monthly rent payments. I started to do a bit of research, and before long, 950 Credit, LLC / www.creditrentboost.com started to form. My goal has always been to help those that think they have no other options – folks that are stuck in a situation – that fell like things will never get better. I like to bring new options and hope to help people realize their dreams. This was a big part in developing Credit Rent Boost – I did not want to create another company that would just make a profit off its customers, but would actually change lives.

As we all know, our credit score influences all facets of our life. From keeping a roof over our family’s heads to getting a better job, to being able to afford that car to get us to work. And not to mention being able to qualify for a loan or credit card. Life happens. That’s the bottom line, and if you have poor credit, when life happens, it can be a very frightening time. Your options are limited and you are forced to turn to alternative sources of cash. Those alternative sources typically come at a very high price. And while that may put a Band-Aid on the current issues, it only gets you further into financial trouble. With 950 Credit, you constantly work on improving your credit score every month, with something you already pay. That way, when life happens, you have more options since your score is higher. It has been my experience, most folks always pay their rent on time, even if they are late with their car or other payments, but are not getting any “credit” for that. With us, renters will build the credit they deserve.

The road here has been a long one… It was a very in-depth vetting process to get approved by TransUnion to offer this service. After months and months of work, finally on Christmas Eve of 2016, TransUnion called and stated our application had been approved! I have to admit, I think that was the best Christmas present I have ever got! After our application was approved, the process continued with months of work to be on-boarded with their systems. After all was said and done, we were finally able to upload our first batch of data!

While we are a new company in Phoenix, we already have built up a base of clients that span throughout the US. We have had numerous renters and landlords email us their personal stories of how we have made a difference in their lives.

Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
As with any business, you are always excited to jump in with both feet. When I started 950 Credit, I couldn’t even imagine what some of our obstacles would be. This is a very new industry, something that has not been done on a large-scale. It was not like I was starting a McDonalds that came with a blueprint for success.
I ran into obstacles from the start with the amount of time it took to be fully vetted to offer our service. Originally, I figured I would submit my application and in a week or two be approved. That was not the case, months and months of time and effort went into the approval process. Our office space even had to meet strict requirements.

After our approval came the fun part, developing a system that would communicate with TransUnion and actually report the data. I had hired several consultants, and of course all had different ideas on what we should do… and once again, they too had never worked on a project like this. We started down one path, and quickly figured out we needed a simpler, yet powerful solution to run our backend. There are so many different software products it’s difficult to know which one will truly be the best fit for your company. After trying several, we purchased one that seemed to best fit for us that allowed us to fully customize to our business model.

After the back end was fully up came the really fun part – Educating consumers and Property Management Companies on our product. For decades building credit with rent did not exist – Now all of a sudden, we were bringing this new product to the market and changing what it meant to be a renter. This in itself has been the most challenging aspect of our business. Every month we gain more and more tenants and landlords, but it has been a much slower increase then we expected.

Please tell us about Credit Rent Boost.com.
Our business model is very simple – We report monthly rent payments for tenants and landlords. This helps tenants build their credit with something they already pay for every month. In addition, we are able to report the previous 24 months of rent history – this way they can build a solid aged trade-line.

I would have to say we are most proud of the fact that we truly change lives. We have helped a number of tenants improve their credit scores, which have allowed them to purchase new homes, obtain better interest rates on car loans, and basically make a positive impact on their financial health.

Our very responsive customer service and the fact that we do not charge a recurring monthly fee are two of the biggest items that set us apart.

Do you look back particularly fondly on any memories from childhood?
Growing up on the family ranch, it was always a big deal when my mother allowed me to go to work with her at her accounting office – this is my most favorite memory from childhood.

I remember how excited I was and how I could hardly sleep the night before. I would get up early that morning and be all ready for our trip into the city. Once we arrived at her office, I would help out with some task while I waited for lunch time!

Pricing:

  • $35 One Tenant – Current 12 months of Rent Reporting
  • $60 Two Tenant – Current 12 months of Rent Reporting
  • $50 / Tenant – Past 24 months of rent reporting

Contact Info:

Getting in touch: VoyagePhoenix is built on recommendations from the community; it’s how we uncover hidden gems, so if you know someone who deserves recognition please let us know here.

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