Experian appears to be offering this new service where you can add your electric, gas, water, and wireless phone bills to your credit report. Has anyone signed up for this?
Perhaps those people who spend more on those types of bills may be a larger credit risk and/or it provides creditors with a better understanding of your monthly expenses, which could hurt or help, depending on whether you’re above or below what their algorithms determine you likely spend on those utilities.
Experian is advertising it as providing a boost to your credit, but I would’ve thought that lenders assume you’re paying your bills, otherwise they’d show up as collections. Also, what’s the likelihood that you pay your credit cards and all other loans on time each month, but don’t pay your electric bill on time?
Just wanted to start a thread on the discussion of this “benefit” or scheme.
(Not sure if this is a good link, or whether the boost discussion just happens to be on that page for now, but maybe someone can find a deeper link and post.)