INDIANAPOLIS (WTHR) — You've likely seen commercials and testimonials for Experian Boost, but is this the right method to improve your credit?
WTHR's Carlos Diaz talked with InCreditable Advisors' Miguel Silva to find out if you can actually boost your credit rating with the new, highly advertised credit bureau.
While the service may be good for some, Silva explained how there are more downsides to be aware of when using Experian Boost to repair your credit for free.
- Easy boost for bad credit or thin credit
- Privacy and security concerns
- No guarantee credit score will prove
- Only 5 to 10 percent moved up one credit tier
- Only affects Experian, not Equifax or TransUnion
Silva said there are measures you can practice to boost your credit without using a service to do the work for you.
Silva did recommend five tried-and-proven methods of building credit:
- Check for errors on your credit report
- Get secured credit card
- Get Credit builder loan
- Keep credit card balances below 10 percent of available credit
- Pay bills on time
Click here to learn more about services and information available through InCreditable Advisors.