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™
On Experian's secure site
Cost
Free
Average credit score increase
13 points, though results vary
Credit report affected
Experian®
Credit scoring model used
FICO® Score
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.
Experian IdentityWorks℠
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.
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.
