There is a commercial out there on TV and probably on your streaming service that has me questioning the whole validity (not that I didn’t already) of credit scores, and the credit services in general.
Have you seen it? The commercial from Experian that says if you go to their site you can get a “credit boost” and raise your credit score simply by following the instructions once you have logged in. *disclaimer: I have not logged in to do this because I don’t need to, so I don’t know the exact steps.*
It’s all a marketing ploy.
As a reminder, this is one of the “big three” credit monitoring services, a for-profit company, so they are one of the companies that reports to other companies about your financial status and health.
Now, they will give you a “boost” for nothing.
Seems weird to me and causes me to ask a several questions: What good are credit scores really if a company can just “boost” it? Are they artificially inflating the numbers to make you (and of course, them) to look better in the consumer’s eye? If they aren’t artificially inflating the numbers, then are they artificially suppressing the numbers in order to give you the “boost” you supposedly deserve?
We are told that your credit score will go up over time if you manage your money well, pay your stuff on time, keep your credit usage level low in regards to your income, and not have companies always inquiring about your credit. This can only be done over time. So, if they can boost your score then time really doesn’t have to be a factor in calculating that credit score.
If they are artificially inflating the number then your credit score really means nothing in regards to accuracy since it doesn’t really reflect your true score.
If they are suppressing your true score so they can gift you a “boost” then your credit score really means nothing in regards to accuracy since it doesn’t really reflect your true score.
Since your credit score has always been based on time and actual financial transactions, either of the two actions above would mean the company is being dishonest about your credit score. Doesn’t it? I can’t think of any other conclusion.
So, either Experian is full of sh*it or your credit score is actually meaningless.
What do you think? Can you think of another conclusion based on this so called “boost”?