Experian partners with Santander on an exclusive offer for Experian Boost members
By Joy Dumasia
Experian Boost customers can benefit from an exclusive new credit card offer with Santander. Experian customers that have raised their credit score through Experian Boost, will receive a £40 Amazon voucher when taking out a Santander Credit Card though Experian Marketplace. This is the highest voucher reward credit card offer currently in market.
Experian Boost is an exclusive free service that helps consumers to instantly improve their credit score by contributing regular transactional information, such as council tax and subscription payments, to their credit information. Experian customers can connect their bank account to their Experian account, via Open Banking. Their accounts are then scanned for an up-to-date view of how they manage their money before the level of score boost is calculated.
Lenders are using these additional data points to make more risk based decisioning. With the rising cost of living and consumers finances being stretched, the value of additional data points means lenders could make more informed lending decisions and offer credit to a wider range of people. Almost 1.2 million people in the UK are already using Experian Boost, with 63% receiving an instant increase to their Experian Credit Score.
Sebastian Worbs, MD Products at Experian Consumer Services said: “We are thrilled to partner with Santander on this exclusive offer for customers who have boosted their credit score. We launched Experian Boost to help people improve their creditworthiness and access the right financial products for them. Working with partners like Santander allows us to offer more choice to people at the moment they need it, in a way they can afford.”
Anthony Redpath, Product Proposition Manager at Santander said: “We’re excited to partner with Experian and support this innovative initiative. We recognise the potential of additional insights from Experian Boost, which can give us an even more rounded view of an applicant’s affordability, helping more people access credit responsibly.”
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