Re: Experian Boost

Anonymous · ‎03-10-2019

I was reviewing my credit report with Experian and noticed Experian Boost is offered. Your FICO Score will get an instant boost by adding your utility and phone payment history to your Experian credit file.

Has anyone used this feature?

mmajer4211 · ‎03-10-2019

@Anonymous wrote:
I was reviewing my credit report with Experian and noticed Experian Boost is offered. Your FICO Score will get an instant boost by adding your utility and phone payment history to your Experian credit file.

Has anyone used this feature?

I did it on Friday. Instant 20 point increase. It will be different based on each persons profile though.

MASSIVE OVERHALL (48) MONTHS IN

Chase Sapphire Preferred $14,500 - Opened 4/21

American Express Hilton Honors $18,000 - Opened 6/19

Sandals Bank of America $11,000 - Opened 4/21

Capital One Quicksilver $750 - Opened 2/19

Credit One Platinum $1,200 - Opened 3/16

Credit One Platinum $1,050 - Opened 03/17

Anonymous · ‎03-10-2019

I learn something on here everyday!!! Saw this post...gave it a try and gained 7 points. That's awesome! Thanks!!!!

Wizard10 · ‎03-10-2019

@mmajer4211 wrote:
@Anonymous wrote:
I was reviewing my credit report with Experian and noticed Experian Boost is offered. Your FICO Score will get an instant boost by adding your utility and phone payment history to your Experian credit file.

Has anyone used this feature?
I did it on Friday. Instant 20 point increase. It will be different based on each persons profile though.

Did you get 20 pts across 3B or only on Experian? And are the pts legit meaning creditors will look at this and say all is well?

Anonymous · ‎03-10-2019

If Experian Boost actually increases your FICO 8 score that lenders can see, I have to wonder if this will change the habits of some lenders that only pull Experian FICO 8 for lending decisions. Will they move the a different Experian FICO flavor like Bankcard, mortage, etc? Will they start double pulling Experian and another report?

While I’m sure many will disagree, I don’t think utilities should be on a credit report and this seems to muddy the Experian FICO 8 model a bit.

Hockeypnc1 · ‎03-10-2019

I posted this same question a while back

It did not increase my score, but it did find two positive tradelines, my T-mobile bill and my electric bill.

Anonymous · ‎03-10-2019

@Hockeypnc1 wrote:
I posted this same question a while back
It did not increase my score, but it did find two positive tradelines, my T-mobile bill and my electric bill.

At the least, I see it leading to more disappointed denials: I had XXX Ex score and did not get approved! It’s just leading to an inflated score and false sense of hope for some, especially those in the rebuilding stage. This increased score from adding utility tradelines isn’t erasing the derogatories, however. Lenders will still deny because of their presence.

Anonymous · ‎03-10-2019

I did it awhile back and got a boost. I believe it may have been a 20 point increase. It is just for experian fico 8 only. The FICO 8 score from transunion and experian remain unaffected. It shows up on your credit report as self reported. It doesn't erase any late payments you have but it does add to accounts that "are on time" assuming you use a bill that you have a clean record for. I did end up removing that feature wtihin 24hrs though as I ultimately decided against it.

With regards to the above post, it isn't the presence of derogatories that will prevent you from getting a good card per se, but more when it occured. i.e. if it's been more than a year or year and a half since your last late payment (derog), then you have a greater chance of getting approved than if your most recent late payment was 6 months prior. (Even with lenders such as Chase, Amex or BOA). You may not be accepted under the best conditions ie higher APR or lower starting line though.

Just wanted to clarify that so anyone new to the boards isn't under the impression that you can't get a good credit card until you have a clean credit report. It's all about timing and strategy.

NeverGivinUp · ‎03-10-2019

I actually enrolled in Experian Boost for my husband & I yesterday. He got a 3 pt. boost and I got a 10 pt. boost. Odd really since it's a joint checking showing the same information for both of us. No complaints though, we'll take what we can get.