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Experian launches checking account for debt-free credit building

Experian launches checking account for debt-free credit building

Experian has launched its own digital checking account and debit card designed to help Americans build their credit without incurring debt.

Experian Smart Money embeds the company's Boost feature, which captures payments such as utilities, residential rent and phone bills, and adds them to the user's credit file.

More than 14 million people have already connected to Experian Boost - via their existing checking account or credit card - with an average Fico Score 8 rise of 13 points, among those that saw an increase.

Beyond Boost, the account includes access to a worldwide network of over 55,000 surcharge-free ATMs, bill pay and the ability to receive a paycheck up to two days early for those who enrol in direct deposit.

Jeff Softley, group president, Experian Consumer Services, says: “With Experian Boost and Experian Go, we enabled millions of people who pay bills regularly to leverage their positive payment history to build their credit profiles.

"Now, we’ve made it more seamless to have those positive payments reflected with the Experian Smart Money Digital Checking Account so more consumers can reach their fullest financial potential.”

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