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Experian unveils checking account for debt-free credit building

By Delisha Fernandes

October 05, 2023

  • Credit Card
  • credit profile
  • Debit Card

Digital Checking Account, Experian Smart Money, Debit Card, credit profile, financial tools, credit card, Digital Checking Account, FinTech news, FinTech USExperian has launched the Experian Smart Money Digital Checking Account & Debit Card that features FICO score-boosting Experian Boost.

This new offering aims to improve customers’ credit profile, while benefiting from an industry-leading suite of financial tools in one place.

“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,” said Jeff Softley, Group President of Experian

Consumers can use the Smart Money Digital Checking Account to pay bills that are eligible for Experian Boost, such as utilities, residential rent and telecom. It will capture the payments and add them to the consumers. This will potentially increase consumers’ credit scores.

By integrating the Boost feature with the Smart Money Digital Checking Account, the company aims to provide a streamlined financial experience for consumers looking to bolster their credit strength and overall financial health. In addition to the Boost feature, the Smart Money Digital Checking Account offers 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.

The move is part of the company’s mission to expand access to credit-building innovations and help consumers access fair and affordable credit everywhere. It follows last year’s introduction of Experian Go, which allows “credit invisible” consumers with little or no credit history to establish a credit file for the first time. 

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