Hello, on 11/23/19 I signed up for Experian Boost and my Fico 8 score on Experians website increased 39 points from 751 to 790. I have an AMEX Everday credit card that provides a monthly Fico 8 Score from Experian. On 12/7/19 my Amex Fico 8 score updated and it was 751 and did not reflect the "Experian boosted" score of 790. Then again on 1/7/20 my Amex Fico 8 score updated and it was still at 751 not including the "experian boost" increase.
So my question is : Is the Experian Boost fico 8 score is a real world score the creditors will see when pulling your Fico 8 score from Experian, or is it just something I only see when I log into my Experian account and provides no real benefit?
Thanks for your help!
Great question! I had the same thought...
Also, my boost never worked do you think disconnecting and reconnecting would mess anything up?
It shouldn't mess anything up. When I first tried it, I disconnected and reconnected with no issues. It just removed the score boost when I disconnected and added it right back when I connected again.
But like my original question, not sure that the boost really did anything since the 2 Fico 8 scores AMEX posted since I did the boost did not include the boosted score.
Honestly I think it serves no real benefit other then artificially inflating your score. As you already found out, Amex and other lenders will not even see that score boost, or they will see it, but not count it.
This. I think they see it, but can opt not to count it - being it's not universally implemented I can see lenders' use being discretionary. Experian also has the following blurb on their Boost info site:
"Not all lenders use credit information impacted by Experian BoostTM"
Tending my Garden til 6/2020
I think that’s pretty bad.
I was always curious about that since FICO 8 generally never took alternative tradeline data into it's calculations... they must have created an alternate algorithm to peddle, much like FICO did come to think of it, wonder if EX is selling one of FICO's non-traditional scores on that.
There are some lenders (I worked at one of them) who would absolutely switch to a Boost-enabled score, but Amex doesn't deal with the underbanked as a general rule.