You just found the perfect apartment—close to campus, affordable, and a decent kitchen for your meal prep. You fill out the rental application and… you get denied.
Why?
Your credit.
Bad credit—or no credit—can slam the door on a lease, even if you’ve got enough money to pay rent. This is especially frustrating for student-athletes who might have NIL income or a part-time job, but not the credit history to back it up.
Here’s the game plan: what to do when your credit is holding you back, and how to work around it so you can still get the keys to your new place.
Why Credit Matters to Landlords
Landlords check your credit to answer one main question: “Will this person pay rent on time?”
Your credit report shows your past behavior with:
- Credit cards
- Loans
- Collections
- Payment history
- Public records like evictions or bankruptcies
Even if your income is solid, bad credit makes landlords nervous. It signals risk. They may worry about missed rent, late payments, or even eviction.
What’s Considered “Bad” Credit?
Most landlords look for a credit score of at least 620–650. If your score is below that—or you don’t have a score at all—you may be denied or asked to jump through extra hoops.
Common red flags:
- Scores below 600
- Recent late payments
- Accounts in collections
- Past evictions
- Unpaid utility bills
Option 1: Be Upfront and Explain
When your credit’s not great, don’t let it be a surprise. Tell the landlord upfront and explain why.
Example:
“I want to be transparent—my credit isn’t where I want it to be. I had a few late payments early on, but I’ve been current for the last 6 months and have stable income through my NIL earnings. I’m committed to paying rent on time and can provide references.”
A little honesty and maturity can go a long way—especially with private landlords who have more flexibility than large property management companies.
Option 2: Offer a Larger Security Deposit
If you can’t offer perfect credit, offer cash to offset the risk.
Ask if you can:
- Pay first and last month’s rent
- Offer a double deposit
- Pay a few months up front
Some states limit how much landlords can legally accept, but showing that you’re financially capable can help ease their concerns.
Option 3: Provide Proof of Income or NIL Earnings
A landlord might be hesitant about credit—but if you can prove you make 2–3x the monthly rent, they may reconsider.
Bring:
- Pay stubs
- Bank statements showing regular deposits
- NIL contracts or sponsorship agreements
- A letter from your financial advisor or NIL manager
If your parents are helping with rent, include a signed statement from them with proof of their contribution.
Option 4: Get a Co-Signer or Guarantor
If your parents, guardian, coach, or another adult has good credit, they can co-sign your lease. This means they’re legally responsible if you don’t pay.
Co-signers need to:
- Have strong credit
- Provide proof of income
- Be willing to sign a legal agreement
Not everyone has someone willing or able to do this—but if you do, it can make the difference between approval and rejection.
Option 5: Use a Co-Signer Service
If no one in your life can co-sign, consider a professional co-signer service, like:
- The Guarantors
- Insurent
- Leap
These services charge a fee (often a percentage of the annual rent) to act as a co-signer for qualified renters.
You’ll still need some income, but they can help bridge the gap between a low score and an approved lease.
Option 6: Apply to Individual Landlords, Not Large Complexes
Large apartment complexes often have strict credit requirements and automated systems. You apply online, and if your credit doesn’t pass—you’re out.
Instead, look for:
- Units managed by individual owners
- Craigslist, Facebook Marketplace, and college housing boards
- “For Rent by Owner” signs around town
These landlords may be more flexible and open to discussion.
Option 7: Sublease or Take Over a Lease
If you can’t get approved on your own, look for a sublease or a lease takeover.
This means you’re stepping into an existing lease—often from another student or athlete who’s leaving town. These deals usually skip the credit check because the original tenant already qualified.
Ask around your team, student housing boards, or campus social groups.
Option 8: Rent with a Roommate Who Has Good Credit
When you rent with a roommate, landlords often average your credit scores or only require one strong application.
If your roommate has solid credit and income, it can increase your chances of getting approved.
Make sure:
- You trust them
- You both sign the lease
- You agree on who pays what
If you’re not the primary applicant, your credit might not even be checked.
Option 9: Improve Your Credit (While You Wait)
If you can’t get approved now, start building your credit today so you’re ready in 3–6 months. Here’s how:
- Open a secured credit card
- Set up autopay for all bills
- Use Experian Boost or credit builder apps
- Pay off small collections if you can
- Keep credit card balances under 30% of your limit
Consistent, on-time payments will move your score up—and some apartments will reconsider after just a few months of credit improvement.
Final Thoughts: You’re Not the Only One
Plenty of student-athletes struggle with credit. You may not have been taught how it works, or you may be dealing with issues outside of your control—like cosigned accounts that went bad, or family financial hardship.
You can still get an apartment. You just need to show the landlord another reason to believe in you—whether that’s cash, a co-signer, proof of income, or a mature conversation.
In the meantime, start rebuilding your credit today, so the next time you apply for housing, you’ll walk in more confident—and more qualified.
Need Help with Credit or Budgeting?
Visit www.FinancialLiteracyForNIL.com or email info@financialliteracyfornil.com. We offer resources for student-athletes who are learning the money game—because your financial future deserves just as much strategy as your sport.