New Experian tool allows consumers to instantly boost their credit score

Experian is launching a new program that can help increase FICO Scores by using mobile and utility bills already being paid.

According to their website, Experian Boost results take effect immediately and gives consumers more control over their financial life. The program is free and can increase credit score fast by using positive payment history, also helping those with poor or limited credit situations.

“Globally, we are constantly innovating and leveraging technology to find new ways to help consumers gain access to quality credit while promoting fair and responsible lending,” said Experian Global CEO Brian Cassin in a press release. “We are committed to financial inclusion, and Experian Boost is the latest example of our efforts to increase consumer awareness of credit’s impact and value while giving them greater control.”

Through the new platform, consumers grant permission for Experian Boost to connect to their online bank accounts to identify and access utility and telecommunications payments. After a consumer verifies the data and confirms they want it added to their Experian credit file, an updated FICO Score is delivered in real time.

Experian Boost will be available to all credit-active adults in early 2019.

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