Boost Your Credit Score With on-Time Netflix Payments
As more people stay at home, streaming services like Netflix are becoming more popular than ever . While Netflix offers plenty of binge-worthy TV shows and movies, it can also provide another new benefit: the ability to boost your credit score. Starting today, you can add your Netflix payment history to your Experian Boost account , which can help raise your FICO® credit score.
The Experian Boost program, launched in early 2019, offers credit for certain timely payments, including mobile phone, internet, electricity, water, gas and cable TV bills. Today’s announcement also added Netflix to the roster.
More than four million people have connected their cell phones and utility bills to Experian Boost, according to a press release , resulting in an increase of more than 29 million points. The free service also offers suggestions for adding utility and telecom accounts.
While Experian’s website says the average user sees their FICO® 8 improve 13 points, this will not affect your credit reports for the other two bureaus, Equifax and TransUnion, which also affect your FICO® rating. However, Experian Boost does offer free access to your Experian Credit Report and FICO® Rating.
How to connect your accounts
You can start getting credit for on-time payments for your mobile phone, utilities, and Netflix by signing up for your free Experian Boost account . After logging in, you can connect the bank account that you used to pay bills for the last 24 months. You will have the option to choose which On-Time Payments you want to add to your Experian Credit File. After completing these steps, you will have access to the updated FICO® accounts.
While Experian Boost will not report late payments, you should try your best to bill your cell phone, utilities, and Netflix on time. Otherwise, these companies may themselves report your late payments to Experian, Equifax and TransUnion.