Adding rent reporting to your credit report can help diversify your credit profile and potentially improve your credit score especially if you consistently make on-time payments. Boom reports your rent payments to the credit bureaus, and positive payment history may boost your score.
However, late or delinquent payments may negatively impact your credit score if reported. It's important to note that credit scores are determined independently by each credit bureau, based on various factors such as the number of reported rent payments, your overall credit profile, and your financial activity with other institutions.
Since Boom is a third-party service, you can contact them directly if you have questions about how your rent payments are being reported.