Experian Boost is a free credit tool that consumers can utilize to increase their credit score instantly. This credit tool has premier online credit tracking and gives consumers full access to their credit history. The service is offered by Transunion, Experian and Equifax. Consumers are able to view their history free of charge at any time. There is no cost associated with accessing the service. This will give consumers a new insight into their current credit standing.
Consumers need to know how Experian boost credit rating works. When a person receives their monthly credit statement, they can look over their past credit history to see where they currently stand. They can also look over the credit score to see where they stand in comparison to the national average. If a person has not noticed their score decline they should definitely examine it. This will allow a person to see if there is any reason to hope for a noticeable score increase.
When a person looks over their Experian boost credit score, they will notice several areas that could use improvement. A couple of the most prominent areas involve the payment of bills and credit cards. These two issues account for about fifty percent of a person’s score. It is important to note that these areas will not improve overnight but will take time.
The way that Experian boost credit score works is that they will pull a copy of a person’s credit report as well as their payment history for a set amount of time. At the end of this period they will compile all the data and present it to the person for review. At this point it is common to see an overall score increase. This means that more than ninety percent of their past credit card and bill payments have been paid off. It will take about six months to a year for a significant change to be seen but it can happen.
An interesting piece of information that is found in an Experian boost credit score review is that anyone can get read-only access to the Equifax file. A read-only access will only give a person limited access to everything on the file. Experian recommends that people read the fine print before taking advantage of this option. This is due to the fact that someone could potentially do some very bad things to their report while trying to access the file and it would be impossible to undo such actions.
The next piece of information in an experian boost credit score review is that a person will need to be enrolled in a credit monitoring service. This is because of the many pieces of data that need to be monitored throughout the year. Each month the credit reporting bureau needs to know what each of their active credit card or loan holders have done with their accounts. It also needs to know what the status of each individual’s account is. If someone does not use a service to track their activities with their accounts then the Experian Boost credit score tool cannot pull the information. Therefore, a person who wants to find out what is on their credit report will need to become a member of a monitoring service that has access to the Experian database.
Being able to find out what is on one’s Experian boost report will take some time, but it can be done. A person needs to look online and see what information is being reported by each of their creditors. Then they will need to make sure to check each of the creditor reports carefully for any negative marks that might be on their reports. Once someone has found what is on their experian boost report they can begin working to remove any negative marks that might be on their reports.
In the above mentioned Experian Boost review a person will discover that each of their creditors are required to report data on one’s credit scores. Therefore, someone looking to get a copy of their experian boost should look at their credit scores from each of the three credit reporting agencies. Then they can go online to see if there are any inaccuracies on their reports from transunion, Equifax, or the other two reporting bureaus. When a person obtains their free credit scores from the bureaus, they will be able to determine their levels of account debt along with their overall credit scores.