Experian Boost

[Gonzozap]

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@Anonymous wrote:

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@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.

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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. 

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Nothing will erase derogatories & that's not what it is intended for.

[Gonzozap]

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@800FICOGoal wrote:

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@Anonymous wrote:

 It is just for experian fico 8 only. The FICO 8 score from transunion and experian remain unaffected. 

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This is just one of the reasons, why I feel Boost isnt worth the effort.

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Experian makes it clear that consumers will be affected differently, depending on their current credit status.  The lower your score or the higher your score, the less impact "Boost" will have.  And of course it's just for Experian, as the name implies.  But for any lender pulling Experian, a 10 to 20 point boost can be worth the very small effort. 

[Gonzozap]

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@Five6Two wrote:

I went ahead and tried this out - added 4 self-reported accounts with over 50 payments but still no boost to my score...at least my positive payment history has improved. 

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That's because your scores are already high.  The higher the score, or the lower the score, the less the impact.

[Gonzozap]

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@Anonymous wrote:

I don't see the value of this. My FICO8 score is already >760, which is good enough for any credit card, and this "boost" wouldn't help the only score I care about--the mortgage scores.

In exchange for getting this higher score on a single version of FICO, I am giving Experian permission to track a whole lot of additional data about me, and why would I want them to?

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I agree with the "tracking" and "selling" issue.  We cannot fully trust any organization with our information any more.  Facebook is a prime example.  I would bet that the powers-that-be at Experian have a "plan" for all this data down the road.  These companies are not benevolent institutions.

[Gonzozap]

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@Anonymous wrote:
Yep, I did it but it didn’t change anything. Also, DO NOT DO THIS before a mortgage application. They count it as your debt and it put my DTI really high because my utilities are high.

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I am a mortgage broker.  We remove any and all utilities from the calculation and revise the DTI.  Shame if other lenders aren't doing this.  Consumers can also remove the Boost reporting whenever they wish.

[Anonymous]

I had tried this and got almost 66 points increase, happened last Friday. Loving this new feature.

[PicoFico]

My boost was 43 points with 5 "items" discovered.

[firemartinez1980]

Is the "BOOST" a one time thing? How often can you use it?

[HighAchiever]

If you receive any boosted points, they remain on your Experian Fico 8 score as long as you have any boosted accounts linked to your Experian account. I received a 25 point boost a few months ago from EX-740 to EX-765. Keep in mind that it appears that the main goal of this is to assist people with thin credit files. Earlier this week I un-linked boost from my account, now that I have a somewhat thicker file, and my score dropped 3 points (EX-770 to EX-767). I immediately re-linked the boosted accounts to my Experian account for now, until they age more so that it won't be necessary. That is probably why some get no benefit or others get a very small benefit. Just my two cents...   

[randomguy1]

Data point for Experian Boost - Does not accept Barclay’s. Shame as I pay for my Cell phone bill with my Uber Visa which uses Barclay’s Bank US (cell phone insurance benefit). Apparently their systems don’t communicate.