Is There a Downside to Using Experian Boost? (2024)

FAQs

Is There a Downside to Using Experian Boost? ›

Experian Boost works best for those with no credit, bad credit or thin credit files. The main drawback is that it only works for your Experian credit report and has no effect on our Equifax and Transunion reports.

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 main disadvantage of Experian is that, unlike FICO, it is rarely used as a stand-alone tool to make credit decisions. Even lenders that review credit reports in detail rather than go off a borrower's numerical score often look at results from all three bureaus, not just Experian.

Boost takes more into account

Previously, regular payments like your monthly Council Tax bill had no influence on your Experian Credit Score. Boost changes that. By sharing payments like this, and showing how you manage your money, you could boost your credit score by up to 101 points.

The links power the Experian Boost and Personal Finances tools, and they're generally safe and secure. However, there's always a risk with sharing information, and you can unlink accounts at any time and request Experian to delete your personal data.

In short—yes, Experian Boost is safe.

Doing so will never hurt your credit score and, in fact, checking your Experian credit report can help you protect your credit and promote long-term credit score improvement.

Ultimately, whether it's worth paying for a premium Experian account or not will depend on how closely you need to monitor your credit record. Since a general overview of your credit score is free, if you only require a cursory look at your credit report then these premium features might not be worth the investment.

These firms are Clydesdale Bank, EE, Nationwide, Santander, Three, Virgin Money,Vodafone and Yorkshire Bank. However, none of these ruled out the possibility of using Experian Boost when assessing customers in future.

How much does Experian Boost cost per month? ›

Unlike credit repair companies, Experian Boost is completely free and can increase your credit scores fast. Credit repair may cost you thousands of dollars and only help fix inaccuracies, which you can do yourself for free.

Is Your Information Secure with Experian? Experian prides itself on providing exceptional service without compromising the personal information of its customers. The privacy policy outlines how information is used and how the credit reporting agency complies with both legal requirements and consumers' expectations.

Credit scores from the three main bureaus (Experian, Equifax, and TransUnion) are considered accurate. The accuracy of the scores depends on the accuracy of the information provided to them by lenders and creditors.

We take privacy and security very seriously. When we request personal information from you, it is to provide you with safe and secure access to features on Experian Connect, such as ordering your credit report. Under no circumstances will we resell or provide your personal information to any third-party marketers.

The bottom line on Experian's safety

Experian, like most global companies, has a number of protections in place to prevent bad actors from accessing your personal financial information.

No. Credit repair is a legal way to improve a damaged credit history and raise your credit score. You can hire a professional firm to help you repair your credit, but it won't be able to do anything you can't do for yourself.