When Experian Is Pulled For Applications, Are Boosts Ignored?

[Anonymous]

Isn't boost more or less an algorithm modification?  Maybe I understand it incorrectly and someone can better explain it.

[Anonymous]

From what I've seen across DPs and reports:

Experian boost will only help Experian's FICO 8 score, not other versions. It will not help your FICO 2 via Experian or any other flavor.

Lenders will pull the report with these boost (AKA self-reported) accounts, and also use the FICO 8 boosted score. This can backfire if you do something that is velocity sensitive like Chase and you report 5 utility bills with only a handful of months worth of payment history. 

If you're doing something like mortgage, and these accounts are on your report, you may be asked to remove them for another more accurate pull.

[Anonymous]

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@Anonymous wrote:

From what I've seen across DPs and reports:

Experian boost will only help Experian's FICO 8 score, not other versions. It will not help your FICO 2 via Experian or any other flavor.

Lenders will pull the report with these boost (AKA self-reported) accounts, and also use the FICO 8 boosted score. This can backfire if you do something that is velocity sensitive like Chase and you report 5 utility bills with only a handful of months worth of payment history. 

If you're doing something like mortgage, and these accounts are on your report, you may be asked to remove them for another more accurate pull.

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+1

Plus they also include any self reported accounts into your DTI, which can be troublesome if you have a high DTI or lots of SLs 

[GApeachy]

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@Anonymous wrote:

Lenders will pull the report with these boost (AKA self-reported) accounts,

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Thanks @Anonymous , I had been wondering what "Self Reported" was all about.