Experian Boost launched earlier this year with the goal of improving FICO Scores for consumers – by including payment history for common monthly bills like utility and telecom accounts. Doing so can help build credit history and boost credit scores for people.
Here’s how Experian Boost has made a difference for consumers so far:
- 62% of Experian Boost users have improved their FICO score – with a total of more than 3.4 million points added to their boosted scores.
- The average increase to a FICO Score is 14 points.
- 90% of thin file users raised their credit scores.
- 14% of Experian Boost Users moved to a higher FICO tier as a result of boosting.
- Consumers in New Jersey saw an average increase of 11.2 points.
Check out the rest of the data here: https://www.experian.com/blogs/ask-experian/experian-boost-study/
The #BoostAmerica campaign also began to promote credit management with award-winning actor, author and philanthropist Hill Harper. Harper currently plays Dr. Marcus Andrews on the ABC’s drama “The Good Doctor,” and is known for his activism promoting financial literacy and his bestselling financial books.