Anyone else had any good or bad experiences with adding that Experian Boost to your credit report. It instantly added 37 points to my credit report by adding payment history for my utilities. It only adds accounts with a good solid payment history. I was wary but so far so good.
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@leslie.kay Wow that is awesome – how much does it cost?
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I used it and it boosted my Experian score by 41 (much needed) points! So far so good!
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I have never heard of this! Will look into it, thank you.
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It is FREE on the Experian website. It will give you credit for any regular bill, such as utilities or insurance premiums, that you have paid regularly over the past 3 out of the past 5/6 months. So, anything that you pay on monthly. The amount you pay doesn’t seem to affect the reporting of a positive credit transaction. The system will ONLY show items that raise your score. Then you can choose which items you want to keep reporting on.
Now it only raises your score on your Experian report but I am betting that this will eventually spread to the other credit agencies. I believe rent reporting will eventually end up reporting automatically as more places go online. I know there are a few agencies that if you pay them they will report your rent.
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Theodora posted:
@leslie.kay Wow that is awesome – how much does it cost?
It is FREE!
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I signed up for it, but for some reason my bank doesn’t show up on their list of banks so they weren’t able to help me. They just told me to check back later.
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Same, @kerrye. Bummer.
I signed up but my bank isn’t listed so I couldn’t do it.
It was only able to find one of my accounts when I tried it and it didn’t change my score at all.
I will see about trying it again once I have regular bills again.
My bank doesn’t show on Experian. I called and they said “we’re working on it”.
I’ve had good and bad experiences with Experian Boost. When I initially got Experian Boost, I had a 20 to 25 point increase.
Then, about 6 to 7 months down the line, I took a 30+ point drop because of Experian Boost. My anal bank, left me with no choice but to reset my password to my account. This directly affected my Experian Boost and my score. I had to delete the bank account and readd it with new password. To this day I still haven’t gotten any score raises due to Experian Boost, despite resubmitting the utility that was originally on it, several times(3 times in 6 months).
Respectfully,
Prince Alarming
Oh, my! Thanks for sharing. How awful for you. There ought to be a law!
I was thinking of trying it too. Now I won’t.
@theodora posted:
@leslie.kay Wow that is awesome – how much does it cost?
It is FREE!
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@chuck.malo posted:
My bank doesn’t show on Experian. I called and they said “we’re working on it”.
I was using it for a time and was seeing increases each month. Now when I try to update the info I am told that Chime is no longer a participating bank and I have received messages that my Boosts are about to expire.
Anyone else experienced this?
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@msd posted:
Oh, my! Thanks for sharing. How awful for you. There ought to be a law!
I was thinking of trying it too. Now I won’t.
I say definitely try it. It is free and will not ever report negative info. It can only help your score to report your utilities & cell phone payments & insurance payments.
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When I used it, it boosted my score 43 points! It reported all my cell pmts, my insurance, and my medical bills. It’s great.
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Update: it took Experian boost 5 months to add boost. Then, I only got one stinking point. Yet again, I lost 5 points for getting rid of an account (but added a 2nd one before I did it). The messed up thing is I wrote Experian about it still got a darn form email. When I wrote back, Experian got anal, asking me for name, acct. number, etc. I replied and got a stuffy it’s been forwarded to the appropriate dept. Meanwhile, Experian hasn’t contacted me about what’s going with my issue. This is the 2nd time around they’ve done this. Typical of credit reporting agencies. They hold the cards to your future and don’t care about you or your credit score. At least that’s my take on it, especially with what I’ve experienced with them.
I did not find it to be useful at all. My bank was not an option.
Experian continues to boost monthly Unfortunately, smaller, local banks do not show up on their website. But it does report cell bills, insurance, and rent payments.
