Credit Building > How does the Experian Boost work in the UK?

How does the Experian Boost work in the UK?

Wollit Team2 minute read · Updated 2nd August 2024

Experian Boost is a service from Experian that helps you increase your credit score by looking at some of your regular spending, like subscriptions to Netflix and Spotify, Council Tax payments, and even payments into savings and ISA accounts.

If you pay these bills regularly and don’t spend more than you earn, Experian can give you an instant boost to your credit score – hence the name.

Experian Boost has been available in the UK since November 2020.

How do I actually set up Experian Boost?

To use Experian Boost, you will need a free Experian account and a current account with a bank that supports Open Banking access for their customers.

It only takes a few steps:

Sign up for a free Experian account.
Connect your bank account.
Experian will scan your account to see how you manage your money.
Check and see if your score got boosted.

What type of payments can boost your Experian score?

Digital subscriptions to things like Netflix, Spotify, or Amazon Prime;
Regular investments and savings, such as ISA and monthly savings accounts. So, for example, if you make monthly contributions to your ISA through an app like Freetrade, for example, you could see your Experian score boosted, too.
And Council Tax payments.

Is Experian Boost safe?

Experian Boost is legit. Your information is protected, and Experian doesn't store your bank login details. Open Banking access is very safe; there have been no incidents since this technology was launched.

Is Experian Boost free?

Yes, Experian Boost is free to all Experian account holders. As long as you have a free Experian account, you can use it with no fees or other charges.

Could Experian Boost hurt my credit score?

This is actually a tricky question.

Connecting to Boost won't cause your credit score to go down. However, lenders can see your score is boosted, and the "boosted" part of your score can sometimes go down. But the main credit score stays the same.

Confused? Basically, think of it this way:

Let's say you start with a score of 500.
You sign up to Boost and get another 50 from it.
Now your boosted score is 550.
But after a few months, you stop your Netflix subscription because you're all caught up with your watch list. There are only so many shows you can binge. Your Boost then might go down to 30.
Now your boosted score is 530, but your actual credit score is still 500.
Lenders can see that the score is boosted at any point – it's up to them whether to consider 500 or 550 your "real" score.

Is Experian Boost worth it?

Experian says yes, of course.

They claim that 51% of people using the service will receive an instant increase to their credit score. And that among this group, more than one in 10 will move up an entire score band.

But online reviews for Experian Boost are mixed.

Here are some issues that many Boost customers have raised?

Boost collects personal data from your account. Now, Experian already has data on you. But if you are concerned about your privacy, you must decide if this is okay with you.
Lenders can see that you boosted your account. They may not care about the points you gained.
Boost somehow seems to increase your debt-to-income ratio. All these payments (to Netflix and even to ISAs) are seen as a form of debt – or at least as something you owe. This matters if you intend to apply for a mortgage.
Finally, many customers on Reddit complain that they've only seen very small improvements to their credit score from Boost.

At the end of the day, Experian Boost is just one of the many tools you can use to improve your credit score.

Other options are:

Credit builder cards: they can help you build a history of repayments, although interest rates are extremely high, up to 55% per year. Be careful when using them.
Credit builder loans
Credit building tools like Wollit, which report your monthly subscription, as well as your usual rent payments, to help you safely build a history of paying your bills on time.