Experian Boost (New US product?)

Ben8282

Well … in this context … the change of topic from discussion of this new US product to a discussion of the UK reporting practices of Bulb Energy and Virgin Media.

boo_star

Ben8282 wrote: »

Well … in this context … the change of topic from discussion of this new US product to a discussion of the UK reporting practices of Bulb Energy and Virgin Media.

Well I know but I've never considered a thread creator to be capable of "hijacking" a thread and I always thought that it's the thread creators prerogative to take it in which ever direction they wish.

Anyway...

sleepyjones

Well the discussion was about the new US product that allows them to view the payments you make to utility suppliers and update your "score" accordingly, a reply was made that UK suppliers report to the agencies anyway so it's a bit irrelevant here, I'm not sure how me saying my suppliers don't seem to report is Hijacking a post?

[Deleted User]

Although updating of a score in the UK is irrelevant since they’re not used here like they are in the USA.

almanak

did anyone figure out it works in the uk?

SpreadableToast

almanak said:

did anyone figure out it works in the uk?

No need to figure it out, it doesn't work.  It's a US product for the US market (thank God.)

Besides, lenders don't really care much about utilities unless you're missing payments or have defaulted (and you'd hardly want them to be reported in that instance)

almanak

Besides, lenders don't really care much about utilities unless you're missing payments or have defaulted (and you'd hardly want them to be reported in that instance)

well utility bills i the uk help you to build any credit history and I am trying to do so. I found an article which I cant paste the link to here as I am new here that Experian Boosts adds netflix to your credit report. As in the UK it seems any bills are added would that be done with netflix as well?

SpreadableToast

almanak said:

Besides, lenders don't really care much about utilities unless you're missing payments or have defaulted (and you'd hardly want them to be reported in that instance)

well utility bills i the uk help you to build any credit history and I am trying to do so. I found an article which I cant paste the link to here as I am new here that Experian Boosts adds netflix to your credit report. As in the UK it seems any bills are added would that be done with netflix as well?

No, of course not.

And "any" bills are not added.  In fact I'd say the vast majority of utility companies do not report to CRAs.  But they really don't do much to build a credit history, because they're not really credit.  So don't worry about it.

Thrugelmir

SpreadableToast said:

almanak said:

Besides, lenders don't really care much about utilities unless you're missing payments or have defaulted (and you'd hardly want them to be reported in that instance)

well utility bills i the uk help you to build any credit history and I am trying to do so. I found an article which I cant paste the link to here as I am new here that Experian Boosts adds netflix to your credit report. As in the UK it seems any bills are added would that be done with netflix as well?

 But they really don't do much to build a credit history, because they're not really credit.  So don't worry about it.

Nothing to do with credit. It's about account conduct. How people manage their financial affairs. Whether they pay on time, or are inconsistant, or perenial late payers. People can be easily classified by their behaviour over an extended period of time. Leopards don't change their spots so to speak. 

SpreadableToast

Thrugelmir said:

SpreadableToast said:

almanak said:

Besides, lenders don't really care much about utilities unless you're missing payments or have defaulted (and you'd hardly want them to be reported in that instance)

well utility bills i the uk help you to build any credit history and I am trying to do so. I found an article which I cant paste the link to here as I am new here that Experian Boosts adds netflix to your credit report. As in the UK it seems any bills are added would that be done with netflix as well?

 But they really don't do much to build a credit history, because they're not really credit.  So don't worry about it.

Nothing to do with credit. It's about account conduct. How people manage their financial affairs. Whether they pay on time, or are inconsistant, or perenial late payers. People can be easily classified by their behaviour over an extended period of time. Leopards don't change their spots so to speak. 

Well, I did miss out that they're obviously going to affect things if you're missing payments or defaulting, but generally "good account conduct" on utilities has a very limited effect on things.  Realistically if you've got a line of actual credit, you'd be better off not having your utilities reported as the effect of good behavior is minimal but the impact of bad behavior is often not far off bad behavior with actual credit.

Ultimately my point is that getting your utilities reported on your credit file, if you have an actual line of credit, is largely pointless.  And if this product ever makes it to the UK, I hope it is widely condemned for the scam that it is.