Experian Boost, a free service from Experian, allows you to add your on-time Netflix payments to your credit report, potentially boosting your FICO® Score. This can be a great way to improve your credit score without taking on any additional debt.
How Experian Boost Works
Experian Boost works by analyzing your bank account data to identify recurring payments for eligible bills, such as utilities, phone, and now, streaming services like Netflix. If you consistently pay these bills on time, Experian Boost will add this positive payment history to your Experian credit report, which can then be used to calculate your FICO® Score.
Benefits of Using Experian Boost
There are several benefits to using Experian Boost:
- It’s free to use. There are no fees or charges associated with using Experian Boost.
- It can help you improve your credit score. By adding your on-time payments to your credit report, Experian Boost can help you improve your FICO® Score, which can make it easier to qualify for loans and other forms of credit at lower interest rates.
- It’s easy to use. Getting started with Experian Boost is quick and easy. Simply connect your bank account to Experian Boost and choose the bills you want to be considered.
- It’s secure. Experian Boost uses bank-level security to protect your financial information.
How to Use Experian Boost
To use Experian Boost, simply follow these steps:
- Create an Experian account. If you don’t already have an Experian account, you can create one for free at Experian.com.
- Connect your bank account. Once you’ve created an account, you’ll need to connect your bank account to Experian Boost. This will allow Experian to access your bank account data and identify eligible bills.
- Choose the bills you want to be considered. Once your bank account is connected, you’ll be able to choose the bills you want to be considered for Experian Boost. You can choose any recurring bill that you consistently pay on time, including utilities, phone, and now, streaming services like Netflix.
- Review your results. Once you’ve chosen the bills you want to be considered, Experian Boost will review your payment history and add any positive payment history to your credit report. You’ll be able to see how much your FICO® Score has improved as a result of using Experian Boost.
Other Financial Tools from Experian
In addition to Experian Boost, Experian also offers a variety of other financial tools that can help you manage your money and improve your credit score. These tools include:
- Experian CreditWorks: Experian CreditWorks is a credit monitoring service that provides you with access to your Experian credit report and FICO® Score. You can also use Experian CreditWorks to receive alerts for changes to your credit report, such as new account openings or balance updates.
- Experian IdentityWorks: Experian IdentityWorks is an identity theft protection service that helps you protect your personal information from identity thieves. Experian IdentityWorks will monitor your credit report and other online accounts for signs of identity theft and will alert you if it detects any suspicious activity.
Experian Boost is a free and easy way to improve your credit score by adding your on-time payments for eligible bills to your credit report. If you’re looking for a way to boost your credit score without taking on any additional debt, Experian Boost is a great option.
How Experian Boost works
Getting credit for eligible bills with Experian Boost is easy and free. Simply follow these three steps:
- Connect the bank account(s) you use to pay your bills.
- Select and confirm the payment information you wish to have added to your Experian credit report.
- Receive an updated FICO score.
You can link positive payment data as far back as 24 months. Although this service does not report late payments, you should pay any outstanding bills as soon as possible because your creditor may report you to the credit bureaus for negative activity.
Experian Boost also gives you access to your FICO® score and Experian credit report, which are updated every 30 days. Additionally, you will receive Experian Credit Monitoring and alerts for any changes to your credit report, including updates to your balance and the opening of new accounts in your name.
Our top picks of timely offers from our partners
Customers’ FICO® Scores may be raised by adding their Netflix® on-time payment history to their *Experian BoostTM accounts, as of today, July 27.
Jeff Softley, D2C president at Experian Consumer Services, tells CNBC Select, “We know consumers are watching more television, and we also know that many consumers are cutting cable and moving to streaming services, so its the right time for us to look at including a service like this.”
By paying your monthly bills on time, you can increase your FICO® Score with the free tool Experian Boost. You could only add utility and phone bills, such as internet, cable, gas, electric, and water bills, before Netflix® was added. Plans to expand to additional streaming providers are also in the works.
More than 4 million customers have linked their accounts to Experian Boost in just over a year, and as a result, over 29 million points have been boosted to date, according to Softley.
Based on Experian data, users see an average increase of at least 13 points in their FICO® Score 8. Results may vary and you may not see an improvement in your score. Also, this service doesnt affect your credit score with the other two credit bureaus — Equifax and TransUnion.
Linking Netflix® payments is already available to new Experian Boost customers; existing users will be able to use this feature in the coming weeks.
Below, CNBC Select reviews how Experian Boost works and other new financial management tools from Experian.
NEVER ADD NETFLIX OR UTILITIES TO YOUR CREDIT REPORT
FAQ
Does Netflix affect your credit score?
What happens if you don’t pay Netflix?
Does not paying subscriptions affect credit score?
Does subscriptions affect credit?
Can Netflix payments help my credit rating?
To use your on-time Netflix payments to help your credit rating, you’ll need to be signed up with Experian Boost. Here’s how it works: Sign on and link Experian Boost to your bank account. Allow Experian Boost to scan your account for eligible bills that can be counted in your credit report.
Can a Netflix ® account boost my credit score?
If you have a Netflix ® account but don’t have many other lines of credit, now may be a perfect time to see if you can boost your score with your Netflix ® payment history. You can try Experian Boost by going to the Experian Boost sign-up page and creating a free account.
Can Netflix ® payment history be added to my credit report?
Netflix ® payment history can now be added to your Experian credit report using Experian Boost ®ø. So if you have a history paying your Netflix ® bills on time, you could get a FICO ® Score ☉ increase in a matter of minutes. What Is Experian Boost?
Can Netflix on-time payment history improve your credit score?
Starting today, July 27, consumers can now include their Netflix on-time payment history on their Experian Boost accounts, which can help improve their credit scores.