There’s an incorrect assumption that many Americans — and potentially your customers and other auto-related consumers — are making when it comes to their credit score standing.

In results of its national survey of renters revealing “widespread confusion” about what is actually included in a consumer’s credit history, TransUnion found that 48 percent of renters incorrectly assume that rental payments are automatically sent to credit bureaus.

The survey also showed that 53 percent believe cable/internet fee payments are regularly reported to credit bureaus, while 54 percent and 52 percent believed the same thing about utility fee payments and cell phone bill payments, respectively. Each of those assumptions is incorrect, TransUnion said.

Interestingly enough, less than a third (29 percent) thought that mortgage payments are among the data regularly sent to credit payments (which they are).

“Most consumers report paying rent on time, but many don't realize that until now these payments are not boosting their credit histories,” said Ken Chaplin, senior vice president of TransUnion. “Renters should be aware that property managers are starting to report payments to credit bureaus and they should be consistently monitoring what is being registered on their individual report.”

And that fact may actually benefit many consumers, as TransUnion’s stats suggest. For starters, 79 percent say they put greater priority on making rental payments over all monthly bills. 

And 77 percent of respondents believe they would see a potential boost in their credit score if rental payments were reported to credit bureaus. (Meanwhile, 68 percent believed the same regarding cable bills; 67 percent said the same of cell phone bills; 69 percent said the same of utility bills.)

But it is not just the renters who benefit, either: over half of renters said if they were certain the landlord reported the rental payment to credit bureaus, they would be more apt to choose that property.

“Expanding the share of property managers who report rental payments will produce more accurate information that truly reflects how consistently consumers meet their financial obligations,” Chaplin said. “It will benefit renters who want to help their credit scores and landlords who want to attract renters who pay rent on time.”