Can Experian Boost Lower My Credit Score?

Communicating in the age of the smartphone

Have you always assumed raising your credit scores takes a long time? Think again. Experian Boost®ø is a revolutionary new tool that helps consumers instantly improve their FICO® Score by giving them credit for on-time telecom and utility payments they've already made.

This free tool is great for people looking to take their credit scores to the next level—and for those who want to begin establishing their credit history.

How Does Experian Boost Raise Your Credit Score?

Historically, utility, phone, cable and internet bills were not factored into your credit scores. With Experian Boost, those payments could improve your credit scores when you give Experian permission to connect to the online bank account(s) you use to pay your monthly bills. Experian finds qualifying on-time payments, and once you verify the information and confirm that you want to add the accounts to your credit file, you'll receive an updated credit score instantly. The process takes about five minutes, and if you're eligible for a credit score boost, it will happen immediately.

By adding these new records to your credit file, Experian Boost helps you build positive payment history. Payment history is the most important factor in calculating your credit scores, so adding records of on-time payments can be very valuable. Keep in mind, Experian Boost only considers positive payment history, so late payments on your added accounts will not negatively affect your credit scores.

The length of your credit history is another important aspect of your credit scores. By adding more accounts to your credit file, Experian Boost can help you build credit history since you'll have more evidence of active tradelines (accounts) and on-time payments.

How Effective Is Experian Boost?

Since Experian Boost launched, more than 1.3 million Americans have completed the process, and many of them—over 840,000—have instantly improved their FICO® Scores. Across the country, consumers have collectively boosted their FICO® Scores more than 11 million points—or an average of 13 points per person.

While some may not see an instant boost after adding utility and telecom accounts to their credit file, Experian Boost will continue to look for qualifying on-time payments and add them to your file. Keeping your account connected to Experian Boost—and continuing to pay your bills on time—can improve your credit health and may boost your score later down the line.

Is Experian Boost Safe?

In short—yes, Experian Boost is safe. Experian utilizes read-only access to your bank statement data to find your qualifying payments made to telecom and utility companies. This process is secure, and Experian does not store any consumer bank credentials—it only stores a record of any qualifying on-time payments.

Can I Disconnect Experian Boost?

While Experian Boost works for most people, some consumers may see their scores stay the same or go down once they link their bank accounts.

This is a result of the complex algorithm used to calculate credit scores. If you see your FICO® Score decrease as a result of connecting your bank accounts through Experian Boost, you can simply disconnect your linked banks and your score should return to its previous number. Remember, you can always give Experian Boost another try by reconnecting your accounts later on.

If your credit scores stay the same, keeping your bank accounts linked can help your overall credit health and may help boost your FICO® Score in time. If your bank accounts stay linked, Experian will continue to check for qualifying on-time payments and will add them to your credit file if they are found.

If you pay utility or telecom bills using your checking or savings account, consider trying Experian Boost to see if you can instantly raise your FICO® Score and get credit for your past on-time payments. You can always get your free credit score from Experian to stay on top of your credit and see how you may be able to improve your scores.