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Does it pay to do a Experian Boost?

bichonmom
Senior Contributor

Does it pay to do a Experian Boost?

I got an email from Experian saying, "Use bills you already pay to raise your FICO® Scores*! Now with Experian Boost™, your credit scores can finally benefit from the bills you pay but haven't been getting credit for."

But their website says it only affects FICO 8: "*Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether."

Wondering if anyone has done this and if it's worth it. Thanks! 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 1 of 4
3 REPLIES 3
Cowboys4Life
Regular Contributor

Re: Does it pay to do a Experian Boost?


@bichonmom wrote:

I got an email from Experian saying, "Use bills you already pay to raise your FICO® Scores*! Now with Experian Boost™, your credit scores can finally benefit from the bills you pay but haven't been getting credit for."

But their website says it only affects FICO 8: "*Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether."

Wondering if anyone has done this and if it's worth it. Thanks! 


This is just my opinion but NO.  It only applies to Experian and most lenders pay no attention to it.  ALL it is for EX is the opportunity to link to your bank account and see what you are spending money on and sell that information to third parties.  It is totally NOT worth it and I have never done it.  If you want better scores managing your debt is the best tactic.  There are a myriad of ways to build scores and Boost is not one of them.

Message 2 of 4
SouthJamaica
Mega Contributor

Re: Does it pay to do a Experian Boost?


@bichonmom wrote:

I got an email from Experian saying, "Use bills you already pay to raise your FICO® Scores*! Now with Experian Boost™, your credit scores can finally benefit from the bills you pay but haven't been getting credit for."

But their website says it only affects FICO 8: "*Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether."

Wondering if anyone has done this and if it's worth it. Thanks! 


1.  I doubt seriously that it accomplishes much, if anything.

2.  It seems like an incredible security risk to give a credit bureau access to your bank accounts.

 

 


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 718 TU 721 EX 698

Message 3 of 4
OmarGB9
Community Leader
Super Contributor

Re: Does it pay to do a Experian Boost?


@Cowboys4Life wrote:

@bichonmom wrote:

I got an email from Experian saying, "Use bills you already pay to raise your FICO® Scores*! Now with Experian Boost™, your credit scores can finally benefit from the bills you pay but haven't been getting credit for."

But their website says it only affects FICO 8: "*Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether."

Wondering if anyone has done this and if it's worth it. Thanks! 


This is just my opinion but NO.  It only applies to Experian and most lenders pay no attention to it.  ALL it is for EX is the opportunity to link to your bank account and see what you are spending money on and sell that information to third parties.  It is totally NOT worth it and I have never done it.  If you want better scores managing your debt is the best tactic.  There are a myriad of ways to build scores and Boost is not one of them.


+100

 

Just a gimmick to mine data and provide self gratification of seeing an artificially inflated score that no lender uses.


Last App: 12/27/2021
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Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 4 of 4
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