Experian and NewDay partner to give consumers more competitive rates

Experian Boost data will now be included in NewDay’s credit card decision-making process - enabling Boost users to receive more competitive rates at a time when they need them the most.

Regardless of whether consumers apply for one of NewDay’s credit products through Experian, NewDay, or any other third-party site, their boosted Experian credit scores will be considered.    

Experian Boost is the UK’s first service to help consumers improve their credit scores using transactional information like total current account incomings and outgoings, as well as regular payments to digital streaming providers, savings accounts, and council tax.

The partnership with NewDay further supports Experian’s mission to improve financial inclusion for consumers, as Boost users will have access to even better credit options than they would have without Boost, as interest rates continue to fluctuate.   

Sigga Sigurdardottir, managing director of consumer services at Experian, said: “The addition of NewDay will allow more Boost users to improve their creditworthiness and access the right financial products for them. As economic uncertainty increases, it’s important that all consumers have more affordable products available to them.

“Our ambition with Experian Boost is to help as many people as possible across the UK increase their credit scores and make access to credit more inclusive, so we’re glad that our partnership with NewDay is providing that opportunity for consumers.” 

Gael Decoudu, director of credit decision at NewDay, added: “NewDay’s purpose is to help people move forward with credit. Experian Boost supports this through its innovative use of open banking to provide us with a real-world view of affordability.

“This means we can offer applicants more favourable rates than they otherwise might have had access to, without increasing any lender risks. It’s a win-win for both consumers and lenders, and we’re proud to include it as part of our approach to credit decisioning and responsible lending.”