Experian is a credit reporting company that allows you to access your FICO® Score (based on the FICO Score 8 model) and free Experian credit report, actively improve your score using Experian Boost™, protect yourself from identity theft, get real-time alerts, and much more. With the power of data, Experian also creates opportunities for you to discover financial products tailored for you and keep track of your credit score for a better financial future.
Consumers can enroll in a CreditWorksSM Basic or CreditWorksSM Premium plan to stay on top of their credit health – the latter also allows you to view your TransUnion and Equifax credit reports and scores. In addition, IdentityWorksSM Plus and IdentityWorksSM Premium memberships offer even more protection and help shield your name, address, Social Security number, other personal data, debit and credit card numbers, and bank account information from fraudsters. These plans also help prevent unauthorized credit activity.
You can also take advantage of Experian CreditMatch to remove the guesswork that comes with finding the best options for a credit card, loan and auto insurance products. Instead of spending hours researching options on your own, Experian will do the legwork for you and make recommendations based on the creditors and auto insurance providers who are most likely to approve you for a credit card, loan or do business with you.
Beyond its impressive suite of offerings for individuals, Experian also features solutions for small businesses. For example, companies can view their business credit reports and scores and access a host of resources, including articles and case studies.
You can get started with Experian for free. However, some membership plans come with a small monthly fee.
Experian’s Commitment to You
For the last 125 years, Experian has been helping people prosper financially, economies and communities flourish, and they keep going to this day.
From buying your home or car to sending your children to college or growing your business exponentially, Experian empowers you to manage your data with confidence to maximize financial opportunities.
Their ultimate goal is to help you take financial control, access financial services, and make more intelligent decisions to succeed in your business. They also want to assist lenders in lending more responsibly and prevent identity fraud and crime for everyone.
What Can Experian Do for You?
Experian offers credit reporting and credit score monitoring services for both consumers and businesses.
As a consumer, these are the several services they can offer you.
Free Credit Report and Score
By signing up for Experian CreditWorks Basic, you can access your score and report and a set of free tools, like Experian Boost, to help you keep track of and improve your credit score and prevent identity theft. You can also stay up to date on what’s happening with your credit accounts and be alerted right away at any time that negative information, like late payments or public records, appears in your Experian credit file.
Three-Bureau Credit Report and FICO Scores
If you want more out of your account, you can sign up for CreditWorks Premium paid plan to unlock extra features, like a three-bureau credit report and FICO Score updates. The paid membership also includes daily Experian credit report, and FICO Score updates, unlike the free plan that only offers monthly updates, along with industry-specific FICO scores that lenders see when you apply for auto loans, mortgages and credit cards. Plus, there are identity theft monitoring and protection services, which include dark web surveillance, lost wallet assistance, identity theft monitoring and alerts, access to a U.S.-based fraud resolution specialist in the unfortunate event your identity is compromised and up to $1,000,000 in identity theft insurance coverage. You’ll also get access to Experian Boost, Experian CreditLock and the FICO Score simulator.
Improve your credit score by adding positive payments from eligible utility bills, including water and gas, to your credit report. You can also include positive payment history for eligible cell phone, cable, landline phone, internet, streaming services and satellite bills, along with online residential payments made to participating landlords or property management companies.
Once set up, the system does everything for you, and it is free to use. Here’s a brief overview of how it works:
- Step 1: Sign up for an Experian CreditWorks Basic or Experian CreditWorks Premium membership. Once you’re all set, navigate to the online dashboard and select “Experian Boost” from the drop-down menu. On the next page, click the button that reads “Start your boost.”
- Step 2: Follow the on-screen prompts to sync your bank account. It should be the one you primarily use to remit payments for your monthly bills.
- Step 3: Experian will work its magic behind the scenes to help optimize your credit score. If a boost is available, you’ll see the results right away.
The average user who sees a boost sees an increase of 13 points to their FICO Score 8 from Experian. However, not everyone sees a boost, and this figure could vary significantly for you – it depends on your credit history.
Also, you should know that Experian Boost can’t hurt your credit score as it does not consider late payments. So, you can rest assured that this free tool only exists to benefit you and help improve your credit health.
This tool lets you lock your Experian Credit File at the tap of a button. It helps prevent unauthorized access to your credit report and alerts you anytime someone attempts to apply for credit in your name after you’ve locked your Experian Credit File. As mentioned above, it’s a part of the Experian CreditWorks Premium membership.
FICO Score Simulator
The FICO Score Simulator lets you see how different scenarios involving four categories – general credit, revolving credit, mortgage accounts and installment accounts – could potentially impact your Experian credit score. Below, you will find the scenarios for each category:
- General credit: pay all your bills on time, forget to pay a bill, don’t pay any of your bills, declare bankruptcy, age your credit report, miss a payment by 90 days, have an account go to collection or apply for new credit
- Revolving credit: make regular credit card payments, pay down your delinquent credit card balance, pay down your credit card balance, get a credit card, get a store card, consolidate your balances onto a new card, close down a credit card, max out all your credit cards or increase your credit card limit
- Mortgage accounts: refinance your mortgage, take out a mortgage or foreclose on or short sale your mortgage
- Installment accounts: take out an auto loan, take out a student loan or take out a personal loan
This feature alone makes enrolling in the Experian CreditWorks Premium membership worthwhile, as it provides insight into strategies you can use to reach your credit goals faster.
One-Time Credit Report
You can quickly pay to access your credit reports and score from one or three credit reporting bureaus – Experian, TransUnion or Equifax – once. This service also includes access to live customer support 7 days a week to learn more about how the items on your credit reports affect your credit score. Or you can ask any other questions that may come up when you review your credit report.
Get matched with credit cards, loans, and other financial products from Experian’s partners based on your credit before applying. For example, if you’re searching for a certain type of credit card, you can filter cards by issuer or type. For the latter, these include cash back, points, balance transfer, 0 percent introductory APR, travel, no annual fee and low-interest credit cards. And you’ll find cards from many issuers on the platform, including Avant, Capital Bank, Capital One, Celtic Bank, Chase, Citi, Credit One Bank, First Access, First Digital, First Progress, Genesis FS Card Services, Luxury Card, MRV Banks, Merrick Bank, Petal, The Bank of Missouri and Wells Fargo. Experian CreditMatch is also included as a part of the CreditWorks Basic membership.
Access extra identity theft protection features, such as locking and unlocking your Experian credit report and real-time notifications if someone uses your personal information to apply for credit when you opt for an Experian IdentityWork membership. There are three membership levels to choose from – Basic (free), Premium and Family. The basic plan includes a free Experian credit report and FICO score, credit monitoring and real-time alerts, FICO Score tracking and monitoring, a free personal privacy scan and a free dark web surveillance report. Or you can upgrade to get even benefits, like privacy scans, removal of your personal information from people finder sites, up to $1 million in identity theft insurance coverage, fraud resolution assistance, Experian CreditLock and more.
If you want to start building credit but aren’t sure where to start, Experian Go is another useful tool worth considering. You can sign up for free, and Experian will provide you with guidance on strategies for building enough credit needed to get a FICO score. Users also get continued support and tips on establishing healthy credit habits. But, again, it’s free to use Experian Go.
Credit reports, scores and credit-building tools aren’t the only services Experian provides. You can also get help lowering your monthly bills if your budget is stretched way too thin or if you’re tired of overpaying each month. Experian BillFixer is another benefit that comes with the CreditWorks Premium membership and gives you access to a team of expert negotiators that will connect with your bill providers to secure better rates. You get to keep 100 percent of the savings you get while using this service, and there’s no added stress as Experian does the work for you. Plus, Experian automatically knows when your promotional offers are up for renewal and will start the renegotiation process before they end to help maximize your cost savings.
Auto Insurance Comparison Tool
You can also use Experian to find a better rate on auto insurance coverage. The auto insurance rate comparison tool helps the average user save $961 on premiums, and it’s free to get started. Here’s how this tool works:
- Step 1: Complete the online questionnaire regarding your current auto insurance policy. Experian will analyze your responses and display personalized quotes from providers in its network.
- Step 2: Review the insurance quotes to determine if at least one is a better fit than you currently have. If so, you can select the offer that’s most ideal for your financial situation and allows you to save money without giving up valuable coverages.
- Step 3: Experian will handle the switch from start to finish. This means you won’t have to worry about reaching out to your current provider to cancel your policy and request a refund (if applicable) or calling the new provider to apply for coverage.
Dispute Credit Report Errors
Per the Fair Credit Reporting Act, if you’re denied credit, you have the right to know if your credit file is the culprit. If you find yourself in this situation, receive access to your credit file, and discover errors or omissions that are negatively impacting your Experian credit score, you have the right to dispute. Experian’s online dispute center provides the tools and guidance you need to start the dispute process without getting frustrated or overwhelmed.
Resources for Small Businesses
Experian also helps small businesses and larger companies access their business credit reports, access business loans, or target new customers.
Experian Customer Success Stories
Experian helps consumers, businesses, and lenders make better financial decisions. With credit report data and credit repair educational services, customers can thrive with Experian. Check out their success stories.
Intuit is a financial software company that uses Experian services to mitigate risk and prevent fraud. With credit reports, ID verification tools, and customer service, Intuit can withhold its company values while helping shareholders reduce losses.
Contract Callers needed a better way to get accurate information about consumers while remaining compliant in the debt collection industry. With a combination of Experian services, they have found higher contact and success rates.
COVID-19 Pandemic Contribution
Experian partnered with the NAACP to create a grant to help homeowners receive mortgage assistance during the COVID-19 pandemic. As a result, Tanya, a Home Preservation Grant recipient, was able to keep her home and get her financial standing back on track with the help of Experian.