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.