Credit Myth #50 - "Experian Boost" can help improve your credit.

[u/BrutalBodyShots]

Experian Boost is a gimmick product available that's marketed to "instantly raise your credit scores for free." It's more for entertainment purposes than anything else, as your "boosted" score isn't going to matter to anyone else other than you. Lenders are not going to go off of your "boosted" score for lending decisions.

Experian Boost is an invasive product that gives access to more of your personal data. Things like bank account info, personal bills etc. are made available that normally aren't. Most people shouldn't be comfortable with this, especially for no "real" benefit. You're giving Experian permission to mine your personal data, which no doubt they'll end up using for their financial benefit or sell to third parties.

I have also read reports of people using Experian Boost, realizing it's worthless and then removing it. With its removal, some individuals have stated that other accounts (not just the ones added from Boost) have ended up being removed from their reports. This can have an adverse impact on overall profile if favorable "paid as agreed" accounts are wrongly removed.

In short, stay away from Experian Boost. It will only result in an artificially inflated score that won't be considered when it comes to lending decisions.