More than exposing their income and letting people know their real age and weight, it seems that individuals are more ashamed of letting others know their credit score. After all, this aspect reflects not only their living expenses but a person’s life choices as well. To help consumers improve their credit standing, Experian Boost will be released this 2019.
Initially slated to enter the market in early January 2019, Experian Boost aims to increase consumers’ FICO score in an instant.
How the Program Works
Herb Weisbaum of NBC News reports that this program makes its initiative possible by delving into the nitty-gritty of their customers’ financials. For one, users who will sign up under this online platform allows the company to access their monthly utility bills, including phone payments and cable television for the past two years.
By building a record of stable payments towards these utilities, consumers can prove themselves worthy to borrow should there be a need. After the assessment, which takes about five minutes, users will be given an update regarding their new FICO score.
Improved Score, New Chance at Life
According to Brian Cassin, CEO of Experian Global, an improved credit grade allows consumers to have better financial freedom, Janna Herron from USA Today reports. This allows individuals to gain access to proper utility service, renting a home, and rightful employment opportunities.
To help increase financial freedom and literacy, the company ensures to put consumers in control of their situation.