Check your credit score the last couple of years it has become less expensive and more readily available to the public as more and more financial and credit card companies are now offering it for free.
While most of them offer you the ability to see your credit score, they don’t give you free access to your FICO credit score which is the score that most lenders use when making their decisions. But that too is changing as a few companies are providing a glimpse of that score for no cost at all and no formalities.
Here’s how to get access for free to your FICO credit score from myFICO. com, Some of the banks and credit card issuers, and a few other companies.
How to Get Your FICO Score for Free from myFICOcom
MyFICOcom is housed in the Consumer Division of FICO, which developed the FICO credit scoring system formula in the s.
Usually requiring payment of a fee to get FICO scores and complete credit reports, MyFICO Score Open lets users check the FICO Score for free once per month.
It will show your FICO score, derived from Equifax credit record. Registration does not cost anything, hence a credit card is not necessary. You have cancellation right at any moment.
Here’s how their free program works: Here’s how their free program works:
To obtain your free FICO score from myFICO just go to the FICO Score Open Access page of myFICO. Go to the button called “Get your Score” and enter your first and last name, current address, date of birth, and the last four digits of your Social Security number to compare you with your Equifax credit report.
That’s it. You will be presented with your actual Equifax FICO score on the screen. Your score and history will also display the factors that have the greatest impact on your score to help you understand what is positively or negatively contributing to your credit score.
Although this allows you one monthly Equifax FICO score for free, they will make you pay for full access to the credit reports and scores. They have a full dashboard where they extend features including Credit Forecast tools and Credit Alert. However, the free version provides a monthly glimpse into the all-important FICO scores that lenders rely on.
The drawback is that this only provides you with one of the three core FICO scores that you are likely to qualify for a loan. Your FICO scores might be different at the three credit reference agencies of Equifax, Experian, and TransUnion because each has minor differences in the data they compile. It is however important to understand that a single score is not sufficient in determining creditworthiness. However, it is useful as a reference point and is the actual FICO score that lenders employ.
You do not have to pay to get a FICO score free for credit card companies and banks have it
More credit card companies and institutions that issue loans are providing their customers with an opportunity to obtain their FICO scores for free through account rewards that are provided online and through fidelity programs. The services offered are rapidly expanding, and many of the massive banks have signed on in the past year or so.
The score that you obtain free from your credit card company may reflect the score from a specific bureau or may contain the average FICO score of all three burens. It varies among companies. While some post updates every month, others do it every quarter. A few are free, some are free for some time maybe months and then start asking for a subscription but one can cancel.
Here are some of the biggest credit card companies that offer free FICO scores as a rewards program for cardholders
Bank of America: Other facilities include the provision of free FICO credit score for Bank of America credit cardholders, which can be accessed through online banking or the Bank of America mobile application. The score is reviewed every month and depends on the data from TransUnion. It is accessible only after signing into the account that you have created. However, they can use other factors than your credit score for decisions concerning credit card or loan applications.
Chase: If you own a qualified Chase credit card that includes Slate, Blueprint, Freedom, Sapphire, or Slate, you can obtain your Experian FICO score through your own secured Chase account free of charge. Chase offers one a monthly score and one can view it anytime he/she wishes by logging into the account.
Citi: Citi offers FICO scores to all Citi credit card users through the ThankYou rewards program every month. It is based on the individual client’s information from Equifax. It can be accessed by cardholders through the Citi. com website or Citis mobile application.
Discover: Discover cardmembers have the advantage of free FICO scores from TransUnion that are updated on every month can be checked on monthly statements or at any time by using their online account or the Discovers mobile app. Another way that Non-Discover customers can get a free score is by registering at the Discovers Credit Scorecard site.
Wells Fargo: Through the Wells Fargo credit card, customers can get to check their FICO score for free every month if they are accessing accounts online. The score is calculated using information from Equifax. However, it is worth making a note that Wells Fargo sometimes applies other credit scores in addition to the FICO score when extending credit.
Some credit unions, banks, and lenders are also responding to this strategy and many of them are offering FICO scores or some other credit scores free to consumers.
Well, you should then find time and look at your monthly statements or go online to your bank or lender to see if yours is available. As more companies enter this sector, there is also more free access from financial providers.
These are some of the least complicated methods to obtain your important FICO score that creditors utilize without the need to pay anything.
Free credit scores for Credit Karma, Credit Sesame, and Quizzle
Besides getting direct free FICO scores from lenders as well as myFICO, there are many free credit and financial websites such as Credit Karma, CreditSesame, and Quizzle: they provide immediate access to credit scores and reports from TransUnion and Equifax upon registration.
The catch is that the free scores they offer are not often your FICO score which many lenders employ. Instead, they offer VantageScores from Experian which can be slightly different from your actual FICO scores. They also only provide scores from Trans Union and Equifax and not from Experian.
Thus, use these numbers as expectations better for tracking your progress than your actual FICO scores that creditors employ to assess your creditworthiness. But they are free and handy for tracking changes which shows you that you may want to look further into your full credit reports.
Free credit scores can now be obtained in many more locations than it could be done before. Although most of the free sources do not offer the tri-bureau FICO scores, which are the ones used by lenders, they can give you a general idea of your credit health at a given time. Employing both can act as a free early warning sign that may help highlight inconsistencies that suggest that there are errors on credit reports or signs that one needs to look into further.
Call now for expert credit repair services: (888) 803-7889
Read More:
How can I credit check myself?
Can I check my credit score myself?
How can I check my credit score without a hard check?
Is a FICO score of 8 good or bad?
How do I check my credit score accurately?
