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Boost Your Credit Score with Experian Boost

At O1ne Mortgage, we understand the importance of maintaining a good credit score. Whether you’re looking to buy a new home or refinance your current mortgage, a higher credit score can make a significant difference. One tool that can help you achieve this is Experian Boost. In this article, we’ll explore what Experian Boost is, how it works, and how it can benefit you.

What Is Experian Boost?

Experian Boost is a free feature offered by Experian that allows you to add eligible on-time payments to your Experian credit report. This can help increase your credit scores, including the most recent versions of FICO and VantageScore credit scores. Launched in 2019, Experian Boost has expanded its list of eligible payment types, making it easier for consumers to improve their credit scores.

Does Experian Boost Count Auto Insurance?

Initially, insurance payments were not eligible for Experian Boost. However, you can now add qualifying insurance payments, including:

• Auto insurance
• Life insurance
• Homeowners insurance
• Renters insurance
• Pet insurance

To qualify, you must make your insurance payments monthly. Unfortunately, health insurance payments are not eligible, even if paid monthly.

What Other Bills Can You Add to Experian Boost?

Experian Boost allows you to pick and choose which bill payments you want to add to your credit report. In addition to insurance bills, eligible bills include:

• Mobile and landline phone bills
• Cable, internet, and satellite services
• Gas, electricity, waste management, and water bills
• Residential rent paid online
• Video streaming services

You can add or remove bills at any time. If you decide to remove a bill, Experian will remove the entire bill payment history from your credit report. The payment history might also be removed if there are no reported payments for three consecutive months.

How to Sign Up for Experian Boost

Signing up for Experian Boost is simple and can be done in a few steps:

1. Create a free account: Sign up for Experian Boost by creating a free Experian account. If you already have an Experian account, log in and navigate to the Experian Boost page under the “Credit” tab or “Tools” at the bottom of the page.
2. Link your bank account: Connect the bank and credit union accounts you use to pay eligible bills. Experian uses multiple methods to keep your account and information safe.
3. Choose which bills to link: Experian Boost searches through up to two years’ worth of account history to find eligible bill payments. Select which bills you want to add to Experian Boost. To qualify, you must have made at least three payments in the last six months, with one payment within the last three months.

Explore Your Experian Account’s Other Features

Experian members receive many free features. In addition to Experian Boost, you can monitor your credit report and FICO Score for free. You can also use money management tools to track your finances, review credit card and personal loan offers based on your unique credit profile, and compare auto insurance quotes to see if you could save money by switching.

If you’re thinking about opening a new checking account, the Experian Smart Money Digital Checking Account & Debit Card can help you build credit without debt by automatically linking to Experian Boost. You’ll also pay no monthly fees, have access to more than 55,000 fee-free ATMs worldwide, and could receive your paychecks up to two days early when you enroll in direct deposit.

Contact O1ne Mortgage for Your Mortgage Needs

At O1ne Mortgage, we are committed to helping you achieve your financial goals. Whether you’re looking to buy a new home, refinance your current mortgage, or need advice on improving your credit score, our team of experts is here to help. Call us today at 213-732-3074 for any mortgage service needs. Let us help you navigate the path to financial success.

Boost your credit score with Experian Boost and take the first step towards a brighter financial future. Contact O1ne Mortgage today!

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