Money Moves: Hill Harper helps launch Experian program that boosts credit scores
Paying your utility bills on time can help your credit score now.
Hill Harper partnered with Experian to launch a program called Experian Boost that is helping his fellow Americans up their credit scores. The unique initiative allows people to self-report payments like cell phones and utilities, which have previously not been factored into credit scores. The goal is to boost credit scores by rewarding people for positive payment histories they already have.
A ticker on the official site for the program shows that as of publication, Experian Boost has added on an impressive 3.4 million points to participants’ credit scores and according the credit agency, the boost is instant.
Actor, father, philanthropist and entrepreneur Hill Harper helped launch the program from inside of Roasting Plant, a coffee house he purchased in Downtown Detroit. Harper explained the program to theGrio and why he decided to be a part of it.
The Experian Boost program is the first of its kind, it’s a game changer. Experian is allowing people to go into their credit score and load in their positive payment history around mobile payments, utility payments, and internet payments,” he said. “I’m very excited about it. It’s about inclusion, it’s about helping folks who may be young or have thin credit files or from challenged backgrounds where their credit scores aren’t that robust.”
Harper also talked about his own financial investments and why he (a native Iowan) has chosen to invest in Detroit. Just in time for graduation season, Harper offered up a few money gems for recent grads about how they can start their new journey with positive financial habits.
Watch the video to catch Hill Harper’s wisdom on how to get your credit score up, have access to capital, and stack your money the right way.