Experian Adding Cellphone and Utility Bill Payments to Credit Score Calculation

Good news for people with little of no credit history; Experian will begin taking cellphone and utility payments into consideration when calculating their credit score; the free service, called Experian Boost, will be opt in and will require consumers to link their bank accounts they use to pay these bills; Experian says approximately 46 million U.S. consumers with thin credit files at the firm could see their credit score increase instantly after the new data is added. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]