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Experian Boost is a service that allows you to add your telephone and utility bill payments on time to your Experian credit report, in order to increase your FICO credit score.
A high credit score can help you get better mortgage terms, lower APRs, and easier approval when you need to borrow money. Experian Boost is free and lets you skip overdue payments, so there’s little downside to trying it if you’re looking to improve your score.
You can now add payments from 4 streaming services
In July, Experian Boost introduced the ability to add your positive
credit report – good news for those of us who actually have our own accounts. Now Experian Boost adds even morepayment history to your Experian
services: Disney +, HBO and Hulu.
More options for adding your positive payment history to your credit report will hopefully help more people see a small increase in their FICO score, and the inclusion of streaming services by Experian Boost might not be possible. more convenient considering the time many Americans spent on the couch during the pandemic.
To get started, you’ll need to create an account with Experian, connect the credit cards and / or banks you use to pay your bills, and then choose and verify the payment information you want to add to your credit report. If the extra payments increase your FICO score, you should see the results instantly.
What to know before trying Experian Boost
While there’s no risk in lowering your FICO score with a credit booster like Experian Boost, you need to know what you can and can’t expect.
Experian says that the average credit score increase for Experian Boost is 13 points, but that won’t erase any late credit card payments or other negative marks on your credit report.
A credit booster like Experian Boost can be especially useful if you’re younger and haven’t developed much of a credit profile yet, as it can show potential lenders that you’ve been responsible for other accounts for your phone, utilities and your streaming services. .