In this article:
- Does Experian Boost Work?
- 87% of Thin File Users Raised Their FICO Scores
- West Virginia Had the Biggest Score Increases on Average
- California Added the Most Points With Experian Boost
- Alaska Had the Highest Percentage of Experian Boost Score Increases
- Terre Haute, Indiana Had the Biggest Average Score Increases Among Metro Areas
- Dallas-Fort Worth-Arlington, Texas Metro Area Added the Most Points With Experian Boost
- 74% of Boost Users From Florence-Muscle Shoals, Alabama, Market Increased Their FICO Scores
Since the launch of Experian Boost™† earlier this year, more than 1 million people have completed the Boost process. Many of these consumers have improved their credit scores—sometimes even moving up into a higher credit tier—with the help of this innovative solution, which gives them the chance to raise their credit scores instantly, and for free, by allowing Experian to include their utility and telecom bill payment histories in their credit report. In fact, Boost users have added more than 7.9 million points to their credit scores to date.
Does Experian Boost Work?
Through August 8, 2019, some 61% of Experian Boost users* have increased their FICO® Score* , by an average of 13 points per user. In particular, Boost users who have a poor FICO® Score have seen significant improvements: They have experienced an average increase of more than 22 points, and 86% improved their FICO® Score after completing the process.
As a result, 66% of those users moved from a poor FICO® Score up to a fair FICO® Score. Lenders use FICO® Scores to assess borrowers' potential risk in paying back a loan or credit card bill on time. Here is a look at users who moved up to a new FICO® Score tier:
- 66% of Experian Boost users improved from a poor to fair FICO® Score
- 26% of Experian Boost users improved from a fair to good FICO® Score
- 6% of Experian Boost users improved from good to very good FICO® Score
- 2% of Experian Boost users improved from a very good to exceptional FICO® Score
87% of Thin File Users Raised Their FICO® Scores
There are more than 100 million people with thin files (four or fewer credit accounts) or subprime credit scores in the U.S. Many lenders use tighter criteria when reviewing these consumers' requests for new credit, and as a result, these people often must rely on high interest credit cards and loans for their financing needs. Experian Boost helps change that by incorporating a consumer's positive bill payment history—for things like utility, mobile phone and cable TV bills—into their credit report. This positive alternative data had never before been factored into a credit score before Boost.
Among Experian Boost users who had thin files, 87% saw an increase in their FICO® Score. Among that percentage of thin-file and subprime users, 16% moved into a higher FICO® Score tier and 46% moved from a thin credit file to a thick credit file.
Many consumers are potentially good risk candidates for lenders, but until now they haven't been able to provide enough data for lenders to know that. Adding utility and telecom payment history can help improve their chances of gaining access to credit—or to better credit products at better rates.
West Virginia Had the Biggest Score Increases on Average
West Virginia consumers who have used Experian Boost have experienced an average 16.5-point score increase, the largest average FICO® Score increase among all states through August 8, 2019. Nevada ranked second, followed by Arizona, Oklahoma, North Carolina and Texas. Here are the other states that have seen the top average score increases with Experian Boost.
|Top Average FICO® Score Point Increases by State|
|Rank||State||Average Experian Boost Increase|
California Added the Most Points With Experian Boost
Among states, California accounted for the most points added to FICO® Scores from Experian Boost through August 8, 2019. Texas, Florida, Georgia and North Carolina rounded out the top five states in points boosted. Here are the other states where Experian Boost users added the most points to their FICO® Scores.
|Most Points Added With Experian Boost by State|
Alaska Had the Highest Percentage of Experian Boost Score Increases
Among states, Alaska accounted for the highest percentage of Experian Boost users who increased their FICO® Scores. Here are the top states where Experian Boost users improved their FICO® Scores.
|Top States Where Experian Boost Users Increased Their FICO® Scoresr|
|Rank||State||Percentage of Scores Boosted|
Terre Haute, Indiana Had the Biggest Average Score Increases Among Metro Areas
Analyzing Experian Boost data among metro areas shows U.S. cities with the biggest average FICO® Score increases stretched across the country. Consumers in the Terre Haute, Indiana market, who used Experian Boost saw the largest increase to their FICO® Scores, with an average boost of 19.3 points. Here are the other U.S. metros areas with the biggest average score increases among Experian Boost users.
|Top Average FICO® Score Point Increases by Metro Area|
|Rank||Metro Area||Average Experian Boost Increase|
|1||Terre Haute, IN||19.3|
|2||Battle Creek, MI||19.0|
Dallas-Fort Worth-Arlington, Texas Metro Area Added the Most Points With Experian Boost
Among metro areas, the Dallas-Fort Worth-Arlington, Texas metro area accounted for the largest amount of points added to FICO® Scores from Experian Boost through August 8, 2019. Here are the rest of the top 10 metro areas ranked by most points added to their FICO® Scores
|Most Points Added With Experian Boost by Metro Area|
|Rank||Metro Area||Total Points|
|1||Dallas-Fort Worth-Arlington, TX||352,862|
|2||New York-Northern New Jersey-Long Island, NY-NJ-PA||349,017|
|3||Los Angeles-Long Beach-Santa Ana, CA||341,772|
|4||Atlanta-Sandy Springs-Marietta, GA||307,828|
|5||Houston-Sugar Land-Baytown, TX||279,539|
|6||Miami-Fort Lauderdale-Pompano Beach, FL||235,703|
|9||Riverside-San Bernardino-Ontario, CA||172,406|
|10||Tampa-St. Petersburg-Clearwater, FL||136,131|
74% of Boost Users From Florence-Muscle Shoals, Alabama, Market Increased Their FICO® Scores
When looking at metro areas, Florence-Muscle Shoals, Alabama metro area, accounted for the highest percentage of users who increased their FICO® Scores with Experian Boost. Here are the top metro areas where Experian Boost users improved their FICO® Scores.
|Top Metro Areas Where Experian Boost Users Increased Their FICO® Scores|
|1||Florence-Muscle Shoals, AL||74.3%|
|7||Houma-Bayou Cane-Thibodaux, LA||72.4%|
|7||San Angelo, TX||72.2%|
|9||Hinesville-Fort Stewart, GA||72.1%|
The Experian Boost data is based on the sample of Experian Boost users who saw an increase in their FICO® Score based on results from February 14 to August 8, 2019. Experian Boost results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.
The analysis results provided are based on an Experian-created statistically relevant aggregate sampling of our product database and the FICO® Score 8 version. Different sampling parameters may generate different findings compared with other similar analyses. Analyzed credit files did not contain personal identification information.
FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.
Credit score calculated based on the 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. Learn more.
Want to instantly increase your credit score? Experian Boost™ helps by giving you credit for the utility and mobile phone bills you're already paying. Until now, those payments did not positively impact your score.
This service is completely free and can boost your credit scores fast by using your own positive payment history. It can also help those with poor or limited credit situations. Other services such as credit repair may cost you up to thousands and only help remove inaccuracies from your credit report.