News & Trends

How Is Experian Boost Different From Credit Repair?

Experian recently announced a new service for consumers called Experian Boost , a groundbreaking way to instantly improve credit scores. The service allows consumers to add positive payment history for the bills they pay every month, such as utility and phone bills, to their Experian credit file. This positive payment history is especially helpful to improve credit scores of those with limited credit or low credit scores.

Is Experian Boost the Same Thing as Credit Repair?

The short answer is no. Credit repair generally involves removing inaccurate negative information from credit reports, generally the things that have an adverse effect on credit scores. Experian Boost, on the other hand, improves credit scores another way: by adding positive information, which can increase your payment history, one of the most important and impactful factors in determining your credit scores.

What Is Credit Repair?

Generally, the term credit repair refers to companies that charge consumers a fee for removing negative information from their credit files. Sometimes companies charge fees in the hundreds or even thousands of dollars for this service. However, the service these companies offer—disputing inaccurate information on their credit reports—is something consumers can do for themselves for free.

Consumers have the right to dispute inaccurate information on their credit report, and it will be removed. While disputing accurate information from credit reports is not legal, some unscrupulous credit repair companies claim they can "fix" this information on behalf of consumers for a fee. Unfortunately, some consumers who are in a situation where they need access to credit sometimes fall for these schemes.

Learn more about how to dispute inaccurate information on your Experian credit report here.

Repairing your credit score takes time. But now, Experian Boost offers a new way to raise your scores immediately.

How Experian Boost Can Improve Your Credit Scores

Experian Boost is a new approach and new alternative to credit repair. It helps by giving you credit for the utility and telecom bills you're already paying. Until now, those payments did not positively impact your scores.

This service is offered as part of your free Experian membership and can boost your FICO® Score* fast. Some 75% of consumers with limited credit or lower credit scores improved their credit scores using Experian Boost, according to Experian data. The lesson here: Even in difficult credit situations, credit repair is not the only solution to immediately improve your credit scores.

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.

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