Experian

Experian Boost is a free service that adds on-time utility and telecom payments to your credit file. The service connects your online checking or savings account to your Experian account and searches for qualifying on-time payments that aren't traditionally included in credit reports. Those payments are added into your credit file and could potentially increase your credit score.

Does Experian Boost Work?

• 61% of Experian Boost users saw their credit score increase, by an average of 13 points.
• 86% of users with very poor credit experienced an increase, averaging 21 points.
• 87% of users with less than five accounts increased their score, by an average of 19 points.

Experian Boost Pros and Cons:

Does Not Work with Most Credit Scores. The main drawback of Experian Boost is that it only impacts your FICO Score 8 calculated with Experian data. None of the other 1,000+ credit-score models currently in use will see a boost. Even FICO Score 8 credit scores calculated based on a TransUnion or Equifax credit report will be unaffected. As a result, Experian Boost might not actually save you much money. Mortgage lenders generally do not use FICO Score 8, for example.

Low Impact on High Scores. The value of a service like Experian Boost decreases the higher your credit score already is. If you already have a top-tier score, think 750 or above, that means you are already making payments on time and have a strong credit history. Adding another on-time payment likely won't bump your score up by that much.

Bank Accounts Only. In order to find on-time payments, you have to link Experian Boost with the checking or savings account you use to pay utilities or telecom bills (credit cards do not apply). You must have a pattern of payments over three months for the program to find what it needs, but the reporting can check back as far as 24 months.

Experian Boost Alternatives:

Experian Boost is just one of multiple services out there that add alternative data to certain credit score calculations. These services are currently limited, though. For example, UltraFICO adds bank account information like balances and transactions to your FICO score but is in a pilot program that only some lenders have access to. Similarly, eCredable Lift reports on-time utility payments, but only to TransUnion.

There are also third-party rent-reporting services that can add on-time rental payments to your credit report.

Bottom Line:

Experian Boost isn't for everyone. You have to pay your bills with a checking or savings account for it to even function and then the impact on your credit score will vary based on a number of factors. If you have relatively few active credit accounts and a lower credit score, Experian Boost will have a more dramatic impact.

The good news is Experian Boost is entirely optional and can be turned off at any point. If for some reason activating the program decreases your credit score, you can disconnect your bank account and your credit score should return to its previous level. That means there's no downside to signing up and seeing if your credit score increases.

You can contact Experian directly by phone, by mail, or online. The Experian customer service number is 1 (888) 397-3742. You can reach a customer service representative Monday through Friday from 7 a.m. to 7 p.m Central Time. To contact Experian by mail, you can use the following address: Experian / P.O. Box 4500 / Allen, TX 75013.

Experian can also help you with specific tasks, such as filing a dispute, managing a credit freeze, or setting up a fraud alert.

To dispute an item on your Experian credit report: file a dispute online or call 888-397-3742.

To contact Experian for a credit freeze: visit Experian online or call 888-397-3742.

To add a fraud alert to your Experian credit report: add an alert online or call 888-397-3742.

Before reaching out to Experian, think through any documentation and information you might need to bring to the conversation, such as your Social Security number, financial records, date of birth, and most recent annual credit report.

Some of the best credit cards that pull from Experian include Chase Freedom Unlimited® and Wells Fargo Active Cash® Card. These are cards that anecdotal evidence suggests will give you a good chance of having your Experian report pulled when you apply. But it won't always happen. 

People living in different regions of the country, for example NYC and LA, might apply for the same card and have different reports checked. And the credit card industry isn't upfront about which bureau gets pulled when, so all you can use to guide you are the reports of consumers. 

Best Credit Cards That Pull From Experian

Depending on what your needs are – cash back, travel, or financing – any of these cards can be a great option. But just remember that you can't know with 100% certainty that any of them will pull your Experian credit report, though it's likely.

To file a complaint against Experian, use the Consumer Financial Protection Bureau's online complaint tool or contact your state's attorney general.

When you submit an online complaint with the Consumer Financial Protection Bureau (CFPB) or state's attorney general, these entities will forward that complaint to Experian and work to get a response from them. Both the CFPB and the attorneys general want to understand not only what kinds of complaints companies are receiving, but also how companies are responding to them. Experian's customer service team will look at your complaint and circle back with steps followed (or to be followed by Experian in the future) to resolve your complaint.

If you submit your complaint through the CFPB, they will publish it on their website so others can read about your experience (your personally identifiable information will not be included). There are more than 155,000 complaints about Experian on the Consumer Financial Protection Bureau's website. Of those complaints, about 60% were closed with an explanation from Experian and approximately 39% were closed with some form of relief to the consumer. The rest of the complaints are still in progress. If you are not satisfied with Experian's response to your complaint, you can provide feedback. While the CFPB does not always take action against companies (such as Experian) itself, it does provide complaint data to the general public and sends reports to state and federal agencies, as well as to Congress.

On the other hand, if you want to file a complaint with Experian regarding an inaccurate item on your Experian credit report, you can file a dispute online through Experian's Dispute Center. You can also dispute credit report inaccuracies with Experian by calling 866-200-6020 or by mailing your dispute and documentation to P.O. Box 4500 Allen, TX 75013. If you don't like Experian's response to your dispute and feel your credit report is inaccurate, you can add a statement of dispute to your report. This statement does not affect your credit score, but can help future lenders understand the circumstances surrounding negative items on your credit report.