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Experian Boost - Got me 9 free Fico8 Points...

YoureWelcome
Contributor

Experian Boost - Got me 9 free Fico8 Points...

So I decided to try it out.  Experian boost found 6 lines in my checking to use.  Most utils and netflix and disney plus...lol.  But with all that said and done, I got 9 points.  Not thrilled, but at least its something.  Try it out.  It was free.  Just passing my experience along.

Message 1 of 6
5 REPLIES 5
coldfusion
Community Leader
Super Contributor

Re: Experian Boost - Got me 9 free Fico8 Points...

Keep in mind though that while Experian Boost may help contribute to giving you a feel-good moment lenders don't leverage it when making credit decisions.



(4/2021)
FICO 8 (EX) 815 (TU) 822 (EQ) 808
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 2 of 6
Jnbmom
Community Leader
Senior Contributor

Re: Experian Boost - Got me 9 free Fico8 Points...

Also gives them access to your banking information, I personally am not comfortable with that .

EXP 758 TU 783 EQ 729
Message 3 of 6
Horseshoez
Established Contributor

Re: Experian Boost - Got me 9 free Fico8 Points...


@YoureWelcome wrote:

So I decided to try it out.  Experian boost found 6 lines in my checking to use.  Most utils and netflix and disney plus...lol.  But with all that said and done, I got 9 points.  Not thrilled, but at least its something.  Try it out.  It was free.  Just passing my experience along.


I would argue it is far from "free", you've given them deep-dive access into your financial world for data-mining purposes, and I'm quite certain they use that data to make money.

I categorically refuse to do AZEO!

Message 4 of 6
nwa479
Contributor

Re: Experian Boost - Got me 9 free Fico8 Points...

I tried it a few months ago and then quickly removed it when I saw how fast they pulled information from my bank account.  Also it didnt add any points.  They also used the payments for the two accounts they found to adjust my debt to income ratio

 

I've also noticed other credit sites like credit karma and credit sesame are adding cash accounts which will help them mine your data.  

I agree this boost is going to be excluded by any company doing a credit inquiry. 

 

 


Starting Scores: 595 to 610 in Sept 2016
Current Scores: Fico8 EQ722 TU660 EX672 Fico9 EQ803 TU726 EX730 Mortgage Scores EQ660 TU648 EX660
Goal Score: Fico8s 750s Fico9s 800s Mortgage Scores above 680


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Message 5 of 6
aj2121
Contributor

Re: Experian Boost - Got me 9 free Fico8 Points...

As noted above, lenders will typically not consider your boosted score. Further, if you already have a healthy number of accounts, Experian boost usually adds no points and in my case it actually caused a point decrease on EX Fico 3, I believe. 

FICO8 as of 4/9/21:
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