A new player is back in town, this time in the form of a very interesting tool called Experian Boost, there is no need to say who’s the company behind this new module, but it is important to recognize the fact that it allows you to quickly attach many services to your credit report in order to accelerate the growth of your credit score more easily.
Being the first (of its kind) of several to come, this resource is one great chance for millions of consumers who want to shape their credit substantially.
The first step to make this tool work is to give Experian the required access to your bank accounts online, in this way the platform can pinpoint all payments so it can be added to your credit history, generating a score once put in place.
One disclaimer, you must have used the many variants: VantageScore 3-4, or FICO 8-9, if your case depends on a TransUnion or an Equifax program, the process won’t achieve any results.
One of the strongest points of this new concept is the overall improvement of the great majority of consumers that already used the tool, nearly two-thirds according to Experian, clearly a considerable gain for many clients that have seen a recent boost in their points, just by adding new accounts related to services like phone, telecom, water and electricity.
There is an ongoing plan to expand the many services you can add to your file, going way beyond the common utilities we use every day. This tool is designed to benefit all those who have built an outstanding credit history through great effort, good spending habits and precise planning. Are you one of those?