How does Experian® Boost improve your credit score?

Your credit score is based on the information reported to credit bureaus like Experian®. Information that is mainly reported here includes on-time bill payments, loans, new credit accounts, etc. So, if there is more information about the diverse payments you are making on time, apart from your credit card bills, your score is higher. 

Experian Boost is a service offered by the credit bureau Experian. It was launched in 2019 and is intended to help you boost your credit scores when you pay your bills on time. These bills include payments not usually reported to credit bureaus like utilities, telecom, rent, and streaming services you use and pay for every month. Experian connects your bank and credit cards and adds any qualifying bills and their related information to your Experian credit file. Experian reports that customers who subscribed to Experian Boost see their FICO® Score improve by an average of 13 points almost instantly. 

As long as your lenders utilize the same versions of the FICO Score and VantageScore®, they should be able to see this information in your credit report and your improved credit score. StellarFi can help you improve your credit score because it reports not just your rent and utilities, but also other regular subscriptions including streaming services or gym membership payments as well. Check out how StellarFi is different from Experian Boost.