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™.
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
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.
Don't miss:
- Should you pay for Experian credit monitoring? Here's how the free and paid plans compare
- Equifax, Experian and TransUnion Announce Free Weekly Credit Reports for a year
- 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
Experian Boost works by taking positive credit activity — like paying a bill on time every month — and using it to improve your credit score. It doesn't consider late or missed payments in the accounts that you link, so this wouldn't hurt your credit score.
Does Experian boost really raise your credit score? ›
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 is the gimmick with Experian boost? ›
Experian Boost is a free credit-building tool that offers a workaround to the traditional credit model. It does this by looking at your payment history for bills like rent, utilities and streaming services that you make from your bank account and aren't reported to the credit bureaus.
How much does Experian Boost cost per month? ›
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.
How to increase credit score by 100 points in 30 days? ›
Steps you can take to raise your credit score quickly include:
- Lower your credit utilization rate.
- Ask for late payment forgiveness.
- Dispute inaccurate information on your credit reports.
- Add utility and phone payments to your credit report.
- Check and understand your credit score.
- The bottom line about building credit fast.
Yes, there are downsides to using Experian Boost. The biggest drawback is that Experian Boost only affects your FICO Score 8 credit score and only when it's calculated using your Experian credit report, which many lenders will not use.
What increases credit score most? ›
One of the best things you can do to improve your credit score is to pay your debts on time and in full whenever possible. Payment history makes up a significant chunk of your credit score, so it's important to avoid late payments.
How much will Experian boost raise my score? ›
People receiving a boost instantly raise their FICO® Score by an average of 13 points with Experian Boost.
Do lenders use Experian boost? ›
Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost®. Some users may not receive an improved score or approval odds with Boost.
Should I link my bank account to Experian Boost? ›
It's safe to link eligible bank accounts to your Experian account, and linking your accounts can give you access to the Experian Boost®ø and Personal Finances tools.
On the Experian Boost landing page, identify the checking or credit card account(s) you use to pay the recurring bills you want added to your credit report. Eligible bills include cellphone and utility bills, streaming subscriptions and rent that you pay online.
How to raise your credit score 200 points in 30 days? ›
How to Raise Your Credit Score by 200 Points
- Get More Credit Accounts.
- Pay Down High Credit Card Balances.
- Always Make On-Time Payments.
- Keep the Accounts that You Already Have.
- Dispute Incorrect Items on Your Credit Report.
Although there isn't a bank that exclusively uses Experian, some banks that typically use Experian data more commonly include American Express, Bank of America, and Wells Fargo.
Can I pay someone to fix my credit? ›
Yes, it is possible to pay someone to help fix your credit. These individuals or companies are known as credit repair companies and they specialize in helping individuals improve their credit score.
How to raise your credit score overnight? ›
How to Raise Your Credit Score 100 Points Overnight
- Become an Authorized User. This strategy can be especially effective if that individual has a credit account in good standing. ...
- Request Your Free Annual Credit Report and Dispute Errors. ...
- Pay All Bills on Time. ...
- Lower Your Credit Utilization Ratio.
As someone with a 650 credit score, you are firmly in the “fair” territory of credit. You can usually qualify for financial products like a mortgage or car loan, but you will likely pay higher interest rates than someone with a better credit score. The "good" credit range starts at 690.
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.
Can you really boost your credit score? ›
You could add up to 100 points with tips like paying cards more than once a month and fixing credit report errors. Amanda Barroso is a personal finance writer who joined NerdWallet in 2021, covering credit scoring.
Is it worth paying for Experian? ›
Ultimately, whether it's worth paying for a premium Experian account or not will depend on how closely you need to monitor your credit record. Since a general overview of your credit score is free, if you only require a cursory look at your credit report then these premium features might not be worth the investment.
