Your credit scores can be a limiting factor when you want to get approved for a new credit card or car loan with an affordable interest rate (or at all), especially if you’re new to building credit and don’t have a lot of credit history to show.
Historically, utility bills haven’t helped people demonstrate a positive payment history or improve their scores. But Experian Boost, a free service launched in early 2019 that connects utility bills—paid from your checking or savings account—directly to your credit report, may give you credit (sorry, pun intended) for those payments. If you have a limited credit history and a fair or poor credit score, you could get a few extra points for paying your utility bills on time.
Source: NY Times – Wirecutter