Report rent and bills to all 3 credit bureaus. Build credit from payments you already make. Starts at $2/month.
Editorially reviewed by Harvey Brooks
Boom Pay (formerly Boom Credit) is a credit-building platform that reports your rent and recurring bill payments to all three major credit bureaus — Equifax, Experian, and TransUnion. This makes it one of the most comprehensive bill-reporting services available, as most competitors only report to one or two bureaus.
Boom Pay can report rent, utilities, phone bills, insurance, streaming subscriptions, and other recurring payments. The service starts at $2/month for basic reporting and offers higher tiers with additional features like past payment back-reporting and priority support.
The key advantage over competitors: reporting to all three bureaus means your credit-building activity is visible to any lender, regardless of which bureau they check. Many free or cheap alternatives only report to TransUnion, which limits the impact.
Boom Pay works by connecting to your bank account (via Plaid) to verify payment activity, or through manual landlord verification for rent reporting. No credit check is required to sign up.
Our editors ranked the best secured credit cards of 2026 based on fees, approval odds, bureau reporting, and graduation policies.
Yes. Boom Pay is a registered company headquartered in Austin, TX, founded in 2019. They hold a NR rating with the Better Business Bureau.
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CreditDoc Diagnosis
Ideal for Building credit across all 3 bureaus from rent and bills and Budget-conscious credit builders ($2/month). Strength: Reports to ALL 3 bureaus (most only report to 1). Watch out for: Newer company, less track record.
1st Franklin Financial is a personal installment loan lender offering $600–$15,000 loans for debt consolidation, home improvement, medical expenses, and life events.
Best for: Consumers needing $600–$15,000 for debt consolidation or unexpected expenses, Borrowers with limited credit history or non-prime credit seeking installment loans
Texas-based federal credit union offering checking, savings, auto loans, mortgages, and home equity products with a mobile-first approach and member-focused service model.
Best for: Texas residents seeking a digital-first banking experience with a mobile-optimized platform, Auto loan refinancers looking to lower existing rates through credit union partnerships
EZPAWN's Cash Pawn location in Austin offers collateral-based loans, gold/jewelry buying, and discounted pre-owned merchandise. Get fast cash by pawning items or selling valuables.
Best for: Individuals with valuable items (electronics, jewelry, tools, instruments) needing immediate cash, Budget-conscious shoppers seeking 25-70% discounts on pre-owned brand-name merchandise
Learn what makes up your credit score, how it's calculated, what the ranges mean, and how to check yours for free.
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
A 3-digit number (300-850) that summarizes how reliably you've handled borrowed money. Higher scores mean lower risk to lenders and better loan terms for you.
Your credit score determines whether you get approved and at what rate. A 100-point difference can mean thousands of dollars more or less in interest over a loan's life.
Example
On a $250,000 30-year mortgage: a 760 score gets you 6.2% ($1,536/month). A 660 score gets 7.4% ($1,729/month). Over 30 years, the lower score costs you $69,480 more.
The percentage of your available credit that you're currently using. If you have $10,000 in credit limits and owe $3,000, your utilization is 30%.
Utilization is the second-biggest factor in your credit score (after payment history). Keeping it below 30% helps your score; below 10% is ideal.
Example
You have 3 cards with a $15,000 total limit. You're carrying $4,500 in balances (30% utilization). Paying down to $1,500 (10% utilization) could boost your score by 20-50 points.
The variety of credit accounts you have — credit cards (revolving), auto loans (installment), mortgage, student loans, etc. Having multiple types shows you can manage different kinds of debt.
Credit mix accounts for about 10% of your FICO score. Having only credit cards isn't as strong as having a card, an installment loan, and a mortgage.
Example
Borrower A has 3 credit cards. Borrower B has 2 credit cards, a car loan, and a student loan. Even with the same payment history and utilization, Borrower B's score is typically higher.
The maximum amount a credit card company allows you to borrow on a single card. Going over this limit can trigger fees and hurt your credit score.
Your credit limit directly affects your utilization ratio. A higher limit with the same spending means lower utilization and a better score. You can request limit increases.
Example
Card A: $3,000 limit, you spend $1,500 = 50% utilization (bad). Card B: $10,000 limit, you spend $1,500 = 15% utilization (good). Same spending, different impact on your score.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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