What Is the Experian Smart Money^™ Digital Checking Account and Debit Card?

What Is the Experian Smart Money^™ Digital Checking Account?

The Experian Smart Money^™ Digital Checking Account and Debit Card, available within an Experian membership, links to Experian Boost^®ø to give you credit for eligible bill payments you're already making. Payment history is the most important factor in calculating your FICO^® Score^Θ, so Experian Boost could help you make strides in your credit.

What Are the Benefits of an Experian Smart Money Digital Checking Account?

The Experian Smart Money Digital Checking Account and Debit Card offers several benefits.

• Raise your credit scores without taking on debt. Your Experian Smart Money Checking Account connects to Experian Boost, which reviews your transactions for ones that can be added to your credit history, potentially increasing your FICO^® Score.
• Get paid up to two days early. You could get your paycheck up to two days early^† and get a one-time $50 bonus^‡ after setting up direct deposit to your Experian Smart Money Digital Checking Account.
• Avoid monthly fees. The Experian Smart Money Checking Account charges no monthly fees^¶, and there's no minimum starting deposit or minimum balance—you can open your account without an initial deposit, or with whatever amount of money works for you. But you'll need to fund the account to get a physical card.
• Take advantage of helpful account features. The Experian Smart Money Digital Checking Account and Debit Card gives you seamless access to your money. You'll get instant access to your virtual debit card, an optional physical card (if you have money in your account), plus helpful financial tools such as online bill pay, money transfers^# and access to more than 55,000 fee-free ATMs worldwide^**.

What Is the Experian Smart Money^™ Digital Savings Account?

The Experian Smart Money^™ Digital Savings Account is a high-yield savings account (HYSA) available as part of an Experian membership. HYSAs offer higher annual percentage yields (APYs) than traditional savings accounts, so they can help your money grow faster without exposing you to investment risk.

What Are the Benefits of an Experian Smart Money Digital Savings Account?

Whether you're saving up for a vacation, emergency fund or down payment on a home, the Experian Smart Money Digital Savings Account has plenty of benefits.

• Grow savings faster with a competitive APY. Fast-track your savings goals with competitive interest rates based on your Experian membership status. The more you deposit, the more you earn. Interest is compounded daily and credited to your account each month.
• Avoid fees and minimum balance requirements. Unlike many HYSAs, the Experian Smart Money Digital Savings Account has no monthly fees^¶, minimum balance or direct deposit requirements.
• Build savings effortlessly through everyday spending. The Round Up^¥ feature of your Experian Smart Money Savings Account turns everyday purchases into savings opportunities. Round Up automatically rounds up your eligible Experian Smart Money Debit Card purchases to the nearest dollar and transfers the difference into your Experian Smart Money Savings Account. You can turn Round Up on or off at any time.

Are Experian Smart Money Accounts FDIC-Insured?

Yes, money you deposit into your Experian Smart Money Digital Checking and Digital Savings Accounts is insured by the Federal Deposit Insurance Corp. (FDIC) through our bank partner, Community Federal Savings Bank (CFSB), member FDIC. That means your deposits are insured up to $250,000 per account type, per depositor^§.

How Can I Open an Experian Smart Money Account?

To open either type of Experian Smart Money Account, you must be 18 or older, live in one of the 50 U.S. states or Washington, D.C., and have an Experian membership, either free or paid^ӂ. Your Experian membership also gives you access to your credit report and FICO^® Score, credit report monitoring, identity theft monitoring, spending alerts and more. All together, these curated insights into your financial life can make managing your money more efficient.

You don't need an Experian Smart Money Digital Checking Account to open an Experian Smart Money Digital Savings Account or vice versa. You can open one type of Experian Smart Money Account or both. However, you'll need both types of accounts if you want to activate the Round Up feature.

The Smarter Way to Reach Your Financial Goals

You work hard for your money, and you want your money to work hard for you. The Experian Smart Money Accounts do the heavy lifting for you. Your Experian Smart Money Checking Account connected to Experian Boost gives you credit for eligible bill payments made with your debit card, helping to build credit and potentially increase your FICO^® Score. Your Experian Smart Money Savings Account's competitive interest rate and Round Up feature offer a smarter, stress-free way to hit your savings goals faster.