If you’re trying to raiseyour credit score, paying your credit card bills on time and lowering your balances are two positive actions you can take. But if you need to bump your score up faster, you may also want to consider*Experian Boost™.
On Experian's secure site
Results will vary. See website for details.
How to sign up for Experian Boost:
- Connect the bank account(s) you use to pay your bills
- Choose and verify the positive payment data you want added to your Experian credit file
- Receive an updatedFICO® Score
Learn more about eligible payments and how Experian Boost works.
Experian Boost is a completely free feature that allows you to connect your utility and telecom accounts to your Experian credit report, which can potentially raise your FICO® score.
By linking your bills like monthly water and cell phone service, you can get credit for positive, on-time payments. Experian also recently updated eligible bills to include on-time streaming payments, providing you with more ways to improve your credit scores.
Keep in mind thatExperian Boost requires that users have at least one active credit account, such as a credit card or personal loan, to sign up.If you want to improve your credit fromfairto good, this feature can provide a helpful path.
Here are the eligible types of utility, telecom and streaming subscription payments you can link:
- Mobile and landline phones
- Internet
- Cable and satellite
- Gas and electric
- Water
- Power and solar
- Trash
- Netflix®
- HBO™
- Hulu™
- Disney+™
Once you sign up and connect your bills, you’ll instantly receive your new credit score, which may reflect an increase. On average, users see a 10-plus-point increase in their FICO® Score 8, which is based on Experian data.
Of course, results may vary based on your individual report, and it is possible that you may not see a change to your credit score at all.
Since this feature is provided by Experian, it only influences your Experian credit report and credit score. Signing up for Experian Boost won’t make a difference in your credit scores with Equifax or TransUnion.When you apply for credit, lenders may review your credit from any one of the credit bureaus. An increase in yourExperian credit score may not improve your qualification odds for a loan or credit card if the lender uses Equifax or TransUnion.
How to sign up for Experian Boost
- Connect the bank account(s) you use to pay your bills.
- Choose and verify the positive payment data you want added to your Experian credit file.
- Receive an updated FICO® Score.
Experian Boost may pull positive payment data as far back as 24 months. Any late payments on linked accounts won’t be reported through this feature. (However, you should still pay outstanding bills quickly to avoidlate fees.)
Beyond the ability to boost your credit score, Experian Boost provides updates to your Experian credit report and FICO® Score every 30 days. You’ll also receive free credit monitoring alerts for changes to your Experian credit report, such as new account openings and balance updates.
For a more comprehensive credit monitoring plan that tracks changes to all three of your credit reports, consider Experian IdentityWorks℠ Premium, which is free for the first 30 days and then costs $19.99 per month for one adult. There are also a variety of family plans available for up to two adults and up to 10 children, which is the reason Experian IdentityWorks ranks as CNBC Select’s best credit monitoring service for families.
On Experian's secure site
Cost
Free for 30 days, then $9.99 to $19.99 per month
Credit bureaus monitored
Experian for Plus plan or Experian, Equifax and TransUnion forPremium plan
Credit scoring model used
FICO®
Dark web scan
Yes
Identity insurance
Yes, up to $500,000 for Plus plan and up to $1 million for Premium plan*
Terms apply.
*Identity Theft Insurance underwritten by insurance company subsidiaries or affiliates of American International Group, Inc. (AIG). The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.
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- What to look for when you review your credit report
- How much does credit monitoring cost?
*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
FAQs
Yes, if you receive a score increase when you add payments with Experian Boost, the increase will happen instantly. Any lender that uses the FICO® Score 8 with Experian data will see that change reflected in score results. Users of Experian Boost whose scores improve see an average FICO® Score increase of 13 points.
What are the negatives using Experian Boost? ›
Cons
- Your score may not improve. There's no guarantee that your credit score will improve after adding the additional information.
- Only works with Experian. ...
- Must share personal data.
While you could raise your score by 200 points, nailing down the timeline can be nearly impossible. However, you can see a boost to your score over time when you take actionable steps, like limiting credit card usage and paying bills on time.
What does Experian boost check? ›
We use data going back up to 12 months to calculate your Boost and. We look for payments into savings and investment accounts, Council Tax payments, digital entertainment payments, and the total amount paid in and out. We then use this information to determine if your score could get a Boost.
What increases credit score fastest? ›
1. Make On-Time Payments
Payment history includes on-time, late and missed payments, all of which are reported to one or more of the national consumer credit bureaus (Experian, TransUnion and Equifax). Always making payments on time can go the furthest to helping you improve credit.
How can I raise my credit score 100 points overnight? ›
5 Ways to Boost Your Credit Score Overnight
- Review Your Credit Reports and Dispute Errors.
- Pay Bills On Time.
- Report Positive Payment History Like Utilities to Credit Bureaus.
- Keep Old Accounts Open.
- Keep Your Credit Balances Under 30%
Unlike credit repair companies, Experian Boost is completely free and can increase your credit scores fast. Credit repair may cost you thousands of dollars and only help fix inaccuracies, which you can do yourself for free.
Is Experian boost or credit karma more accurate? ›
Experian vs. Credit Karma: Which is more accurate for your credit score? You may be surprised to know that the simple answer is that both are accurate. Read on to find out what's different between the two companies, how they get your credit score, and why you have more than one credit score to begin with.
Is it safe to link bank account to Experian boost? ›
The links power the Experian Boost and Personal Finances tools, and they're generally safe and secure. However, there's always a risk with sharing information, and you can unlink accounts at any time and request Experian to delete your personal data.
How to get a 900 credit score in 45 days? ›
Here are 10 ways to increase your credit score by 100 points - most often this can be done within 45 days.
- Check your credit report. ...
- Pay your bills on time. ...
- Pay off any collections. ...
- Get caught up on past-due bills. ...
- Keep balances low on your credit cards. ...
- Pay off debt rather than continually transferring it.
The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).
How many points does your credit score go up when you pay off a credit card? ›
Chip Lupo, Credit Card Writer
Your credit score could increase by 10 to 50 points after paying off your credit cards.
Do Experian Boosts really work? ›
Most people who try Experian Boost see their credit scores improve immediately. Average users boosted their FICO® Score☉ 8 based on Experian data by 13 points. Some may not see improved scores or approval odds. Not all lenders use credit information impacted by Experian Boost.
Which lenders use Experian Boost? ›
These firms are Clydesdale Bank, EE, Nationwide, Santander, Three, Virgin Money, Vodafone and Yorkshire Bank. However, none of these ruled out the possibility of using Experian Boost when assessing customers in future.
What bills qualify for Experian Boost? ›
How Experian Boost works
- Mobile and landline phones.
- Rent payments.
- Insurance payments (except for health insurance)
- Internet.
- Telecom services including cable, satellite and television.
- Utilities such as water, waste management, gas and electric.
- Qualifying video streaming services such as Netflix®, HBO™, Hulu™ and Disney+™
When the scores are significantly different across bureaus, it is likely the underlying data in the credit bureaus is different and thus driving that observed score difference.
Does increasing credit increase credit score? ›
Increasing your credit limit can lower your credit utilization ratio, potentially boosting your credit score. A credit score is an important metric that lenders use to judge a borrower's ability to repay. A higher credit limit can also be an efficient way to make large purchases and provide a source of emergency funds.
Is Experian smart money worth it? ›
Experian Smart Money is an overall solid checking account option. There is a $0 minimum opening deposit and no monthly service fee. You'll have access to online bill pay, money transfers, early direct deposit, and a network of 55,000+ Allpoint ATMs.
