“`html

Boost Your Credit Score with Experian Boost

Are you looking to improve your credit score quickly and easily? Experian Boost is a free feature that can help you enhance your FICO® Score instantly by including eligible household payments in your Experian credit report. Learn how Experian Boost works, what payments qualify, and how to sign up.

What Is Experian Boost?

Experian Boost allows you to add your history of certain on-time household bill payments to your Experian credit file, helping you build credit. Eligible accounts include:

• Phone bills (mobile and landline)
• Utility bills (gas, water, electricity, solar)
• Insurance (excluding health insurance)
• Residential rent (if paid online)
• Internet, cable, and satellite providers
• Video streaming subscriptions
• Trash collection services

These payments are reliable indicators of responsible financial management and creditworthiness. By adding them to your Experian credit report, they can contribute to your FICO® Scores based on Experian credit data.

How Does Experian Boost Work?

To use Experian Boost, you select which bills to share, and you can change this at any time. Up to two years of payment history for each bill is added to your Experian credit report. If a lender or other authorized party requests a FICO® Score based on your Experian credit report, it will reflect Experian Boost data. Only on-time payments are considered, so late payments cannot hurt your FICO® Score.

Is Experian Boost Free?

Yes, Experian Boost is free, and so is the basic Experian account required for access. A Premium CreditWorksSM account is available for a fee, offering expanded benefits, but it is not necessary for Experian Boost.

Is the FICO® Score Increase Immediate?

Yes, if you receive a score increase when you add payments with Experian Boost, the increase will happen instantly. Any lender using the FICO® Score 8 with Experian data will see that change reflected in score results. Users of Experian Boost whose scores improve see an average FICO® Score increase of 13 points.

Who Should Use Experian Boost?

Experian Boost is beneficial for anyone, but it is especially helpful for users with limited credit experience, often referred to as “thin-file borrowers,” and those with fair or poor FICO® Scores.

How to Sign Up for Experian Boost

Signing up for Experian Boost is easy and typically takes just a few minutes. First, you’ll need a free Experian account. Along with access to Experian Boost, the free subscription provides access to your Experian credit report, FICO® Scores based on it, and other services to help you maintain good credit health.

On your account homepage, scroll down to the “Explore other actions” box and click the button marked “Add bills to Experian Boost.” On the Experian Boost landing page, enter information on the checking or credit card account(s) you use to pay the bills you want added to your credit report. Use the encrypted form to enter the usernames and passwords you use to log in to those accounts’ online dashboards.

Experian Boost will identify eligible accounts it recognizes from the accounts’ automatic payments and retrieve up to two years’ worth of payment history for each. Confirm that you want information for each identified account added to your Experian Boost list. As each approved account is added, Experian Boost will indicate the number of points your credit score has changed as a result.

How Can a Good Credit Score Help You?

Having a good credit score offers many benefits, including:

• Improved likelihood of approval on loan and credit card applications
• Access to a wider array of offers for loans and credit cards, including options with higher borrowing limits, better perks or rewards, and lower interest rates and fees
• Greater rental options among landlords and property managers that use credit scores in their tenant-screening processes
• Lower car insurance costs in states where car insurance providers use credit scores to help set premiums
• Lower security deposit requirements on home rentals and leased equipment such as wireless routers, cable boxes, and satellite dishes

Is Experian Boost Safe?

Yes, Experian Boost is safe. Protecting customer data is Experian’s top priority. Experian Boost uses multiple layers of security technology, including bank-level SSL security encryption, to safeguard your personal information when you connect your accounts and add your bills.

The Bottom Line

Experian Boost is a free feature that lets you get credit for responsible household bill payments by adding them to your Experian credit report for use in calculating credit scores. Signing up for Experian Boost is quick and easy and may yield an increase in your FICO® Score 8 based on Experian credit data.

For any mortgage-related needs, call O1ne Mortgage at 213-732-3074. We’re here to help you achieve your financial goals with confidence.

“`