Good credit scores can allow you to do more (for less money). How? By helping you get more favorable rates when leasing a car or renting an apartment. So, what’s one of the ways Chime helps members increase their credit scores quickly? Hello Experian Boost™.²
What’s Experian Boost?
We’ve teamed up with Experian to offer a free and easy way to raise your FICO® Score with eligible bills you’re already paying through Chime. If you’ve worked to improve your credit scores over months or even years, seeing your credit scores go up faster can be extremely rewarding. With our partnership, we’ve made it a safe and no-brainer way to increase your FICO Score and give you credit for the qualifying bills you’re already paying. Qualifying bills include Netflix®, Disney+®, Hulu®, HBO®, AT&T®, Verizon®, Spectrum® and more. As a Chime member, you can easily connect Experian Boost to your account, quickly and for free.
How to Use Experian Boost with Chime
Let’s see how easy it is to grow your credit scores:
What happens when I use Experian Boost?
Experian will look for your qualifying bills and then you’ll decide which ones to share. Behind the scenes, Experian will verify that all the accounts are accurate, then add the accounts to your Experian credit file. Specifically, Experian looks at your qualifying bills to make sure you’re a) paying them through Chime and b) paying them on time. (Ok, I didn’t mean to rhyme just there.) Experian Boost only considers your on-time payments, so late payments won’t hurt your credit scores.² The whole process takes about five minutes. It’s a fast, safe, and easy way to boost your credit scores.
Monitor Your Progress in the Chime App
As if boosting your FICO® Score wasn’t good enough, you get to track your FICO Score anytime you want, right in the Chime app. Read more on how to track your FICO Score within the Chime App for free on our blog.
Our partnership with Experian is an easy way to take your credit building journey to new heights. But we’re not stopping there. Chime has a variety of ways to help you improve your credit situation. Our Chime Credit Builder Secured Visa® Credit Card³ helps you start building credit with everyday purchases and on-time payments.⁴ And remember, good things can happen when you focus on building your credit!
Experian Boost FAQs
Is Experian Boost free?
Yep! Any Chime member has access to sign up, for free, in the Chime app. Not a member yet? Applying for an account is free and takes less than 2 minutes.
Does Experian Boost work?
Yes! Since launching in early 2019, Experian Boost has helped millions of people instantly increase their credit scores.² The process starts by signing up for a free Experian membership. We make this easy to do all within the Chime app.
How much will Experian Boost increase my FICO® Score?
The average user who receives a boost sees an increase of 13 points.² You need to make three on-time payments in a row on a qualifying bill to unlock a boost. Qualifying bills include Netflix®, Disney+®, Hulu®, HBO®, AT&T®, Verizon®, Spectrum® and more.
Can Experian Boost hurt my FICO® Score?
Experian Boost only includes your positive payment history, so late payments won’t hurt your credit scores.² However, just like with any credit building, stopping either payments or use of Experian Boost can negatively impact your FICO® Score. If adding a bill lowers your FICO Score, you can simply remove it from Experian Boost in the Chime app to “undo” any negative effect. To qualify for more boosts to your credit scores, remember to continue making on-time payments and add additional eligible bills.
How can I check my FICO® Score for free in the Chime app?
When you sign up for a free Experian account, you also get access to seeing your FICO® Score in the Chime app. We’ll alert you every time your FICO Score is updated in the app because we love keeping you in the loop.
How else can I increase my FICO® Score with Chime?
Chime Credit Builder Secured Visa® Credit Card³ helps you start building credit with everyday purchases and on-time payments.⁴ Members increase their FICO Score by 30 points on average.⁵