What is eCredable and how does it work?

A good credit score can unlock a wealth of opportunities, from top-tier credit cards to lower interest rates on loans. There are several tried-and-true ways to improve your score — like making on-time loan and credit card payments, not using too much of your available credit and limiting new credit applications.

But there are tools that can boost your credit score through other avenues, too —like eCredable Lift®, a paid service that links payments to utilities to your credit report from TransUnion, one of the three major credit-reporting agencies. Utility companies aren't typically included on credit reports, so on-time payments wouldn't otherwise help you build credit.

The service won't magically fix all of your credit problems, though. Here’s everything you need to know about how eCredable Lift works and whether it's worth it for you.

For $9.95 a month, you can link up to eight accounts to eCredable Lift and report up to 24 months of payment data per account. That can help you if you need to improve your credit or have a limited credit history.

Eligible accounts include:

• Electric
• Gas
• Internet
• Cable
• Satellite TV
• Phone
• Water and sewer
• Garbage and waste disposal services

eCredable works with thousands of utilities, but there's always the chance that yours isn't one of them. Before you enroll, search eCredable's online database to ensure your providers are partners.

For $14.95 a month, eCredable also offers eCredable LiftLocker™, a premium service that provides all the benefits of Lift, along with identity theft alerts, budgeting tools and credit monitoring for TransUnion, among other benefits.

Experian Boost® and eCredable Lift are similar but Boost is a free service that links accounts to your Experian credit report, while eCredable is paid and works with TransUnion.

Also, Experian Boost only reports positive payment history, so it will never damage your credit. eCredable Lift, on the other hand, reports positive and negative payment history, so you'll want to be selective with the accounts you add if you aren't keeping up with your bills.

What about UltraFICO?

UltraFICO™ lets you add bank account information to your Experian credit report, which can be handy if you have bad credit (or a thin credit file) but healthy savings.

If you've been denied a credit card, personal loan or other loan product — or offered unsatisfactory terms — you can grant Mastercard's open banking platform, Finicity, permission to review your checking, savings and money market accounts.

FICO then combines this information with details from your Experian credit file to generate your UltraFICO™ Score in real time, which the lender can then use to reconsider.

Rolled out in 2019, the program is only available to lenders that participate in the UltraFICO program, which is still a relatively small group.

If services such as eCredable or Experian Boost aren't right for you, there are other ways to build up your credit score.

Pay bills on time

Consistently paying your bills on time and working to eliminate outstanding debt may not be quick fixes, but they're the best long-term strategies for building a healthy credit score.

Payment history accounts for 35% of your FICO score and the amount you owe makes up 30%. Making on-time payments in full also helps you avoid late fees and lowers your credit utilization ratio.

Monitor your credit report

The most common credit scores are based on details contained in credit reports compiled by the three major credit bureaus, Experian, Equifax and TransUnion.

Pay attention to what's on all three so you can dispute errors that could lower your score.

You can access your credit reports for free, but manually reviewing each one is tedious and time-consuming. Your bank or credit card may give you access to a free credit monitoring service that reviews reports from one bureau, but if you want all three, you'll probably need to sign up for a paid service.

It might come with other perks, too. IdentityForce® UltraSecure, UltraSecure+Credit and Experian IdentityWorks℠ all offer identity theft insurance and dark web surveillance reports.

Secured credit cards

Secured credit cards are designed for people with bad or limited credit. Unlike traditional cards, secured cards require a cash deposit to open an account. Your credit score will increase as you make on-time payments, just like it would with an unsecured credit card.

The best secured credit cards offer rewards, such as the U.S. Bank Cash+® Secured® Visa Card, which earns cash back on eligible purchases.

If your credit report is thin or your credit score needs a boost, eCredable Lift could help. It links phone bills and other utilities that normally aren't reported to the three main credit reporting agencies to TransUnion.

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*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.

Information about the U.S. Bank Cash+® Secured® Visa Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.