Experian Boost update lets tenants add rent payments to their credit report
The free open banking tool now sorts current account activity into rent, household bills, buy now pay later and short-term borrowing, and shows how a lender might read it. It reaches all users by the end of November.
By Daily Oracles News Team2 min read
Renters will be able to add their rent payments directly to their Experian credit report under an updated version of Experian Boost announced by the credit reference agency on Monday. The roll-out starts this week, and Experian says all consumers will be able to use it by the end of November.
Boost is free. Users connect their current account to their Experian account through open banking, and the service sorts the transactions into groups that lenders may look at alongside a conventional credit file:
- rent and other housing payments
- household bills and regular commitments
- buy now pay later activity
- everyday account management
- payment problems and account conduct
- short-term borrowing
The update adds a breakdown of how a lender might view that spending during an affordability check, with notes on what appears to be helping or holding back the user's financial profile and what they could change. Experian said lenders increasingly look past the credit report itself to build a fuller picture of an applicant, and that the tool is meant to show people that picture before they apply for a loan, credit card, car finance or mortgage.
The figures behind the claims
Experian said Boost users could see average APR reductions of up to 22%, and an average saving of £340 a year in interest. Both figures come from a three-month pilot, from July to October 2026, with a single lender trading under three brands: Lendable, Asda and Post Office. Average APR discounts in the pilot ranged from 14% to 22% depending on credit score band. The £340 is based on a £10,000 personal loan over 48 months, comparing an APR of 24.5% with one of 19.2%.
The company also ran 113,259 existing Boost users through the new version in July, leaving out those without enough data to produce a score. Of those, 71% saw their score improve after signing up.
At launch the tool reads current account information only. Experian plans to add credit card spending in 2027.
