Experian Giving Consumers a Credit Boost for Their Love of Streaming
27 Julio 2020 - 5:00AM
Business Wire
While increasing video streaming hours during
quarantine, consumers can now also increase their credit scores
If you’re among the millions streaming more often during
COVID-19, Experian is offering a way to use the leading video
streaming service to boost your credit. Building on its
groundbreaking consumer credit product, Experian Boost™, the
company announced today that consumers can add video streaming
payment history to their Experian credit reports using Experian
Boost. With an 85% increase in television streaming in March 2020
due to the onset of COVID-19, Experian recognized changing habits
and strong payment history to continue to help bolster consumers’
credit scores instantly.
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Now with Experian Boost, consumers can
possibly boost their credit scores with video streaming service
payment history. (Photo: Business Wire)
Experian Boost, which launched in early 2019, accepts positive
payment history for utility and telecom bills to help consumers
increase their FICO® Scores. More than four million consumers have
connected their accounts, with over 29 million points boosted to
date. With FICO® Scores, Americans can gain more access to credit
with better terms.
“There is no doubt the pandemic has had an impact on the
financial health of consumers,” said Jeff Softley, D2C president,
Experian Consumer Services. “By giving consumers greater control,
Experian Boost and our new finance tools help consumers not only
gain access to quality credit but also help millions of Americans
with broader financial recovery.”
Building Credit with Boost
In addition to benefiting from regularly paying their video
streaming billsi, consumers who have used Experian Boost will
receive recommendations on additional utility and telecom accounts
they can add to their credit reports that may not have qualified
upon enrollment. As more accounts are added, consumers can build up
their positive credit histories, which is a factor that impacts
credit scores. On average, consumers who used Experian Boost
received a 13-point increase. Experian Boost is free and available
at http://www.experian.com/Boost.
“In just over a year, Experian Boost has proven to help
consumers struggling to improve their credit score see immediate
and meaningful increases,” said Bill Cheeks, president of ABBA
Associates, Inc., and a member of the Experian Consumer Council.
“By giving people more control over their credit, Experian is
helping people take charge of their financial future.”
Contributing payment histories to an Experian credit file
through Experian Boost allows lenders to make more informed
decisions when considering prospective borrowers. Only positive
payment histories are aggregated through the platform and consumers
are always in control. In fact, they can remove the data from their
Experian credit file at any time.
One Stop Financial Shop
A new free financial management hub, inside the CreditWorks
Basic and Premium products, helps consumers manage their spending
and provides personalized insights and actions. Some of the
features includes recommendations for preferred credit cards,
categorization of spending, trending data for net worth, income and
cashflow, and threshold-based transactions and account balance
monitoring and alerts.
In addition, a new free money-savings feature shows consumers
how they can lower their bills and manage debt across their entire
credit report with balance transfer cards, personal loans, student
loans, mortgage refinancing, auto refinancing and auto insurance.
Targeted savings opportunities and personalized savings estimates
based on a user’s credit file will be added in the near future.
To learn more about Experian products, visit
http://www.experian.com.
About Experian
Experian is the world’s leading global information services
company. During life’s big moments — from buying a home or a car to
sending a child to college to growing a business by connecting with
new customers — we empower consumers and our clients to manage
their data with confidence. We help individuals to take financial
control and access financial services, businesses to make smarter
decisions and thrive, lenders to lend more responsibly, and
organizations to prevent identity fraud and crime.
We have 17,800 people operating across 45 countries, and every
day we’re investing in new technologies, talented people and
innovation to help all our clients maximize every opportunity. We
are listed on the London Stock Exchange (EXPN) and are a
constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global content
hub at our global news blog for the latest news and insights from
the Group.
Experian and the Experian trademarks used herein are trademarks
or registered trademarks of Experian and its affiliates. The use of
any other trade name, copyright, or trademark is for identification
and reference purposes only and does not imply any association with
the copyright or trademark holder of their product or brand. Other
product and company names mentioned herein are the property of
their respective owners.
i At launch, the service is available to select Experian Boost
customers. Widely available to all consumers in early August.
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version on businesswire.com: https://www.businesswire.com/news/home/20200727005185/en/
Sandra Bernardo
Experian Public Relations
949-529-7550 Sandra.bernardo@experian.com
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