As many of you are aware, FICO® Score is a very popular topic within the community. Numerous discussions have been created that focus on the scores are you trying to achieve, questions have been posted in the Ask & Answer section about the impact of specific behaviors to your FICO® Score and over seven ideas have been posted in the community requesting the capability to access your FICO®Score while viewing your Account Summary data.
So, I’m thrilled to announce that you will now know where you stand with your FICO® Score that has launched on the Account Servicing website! I love it when community ideas are implemented and launched!
As of October 30th you are now able to view your FICO® Score online – at no charge, no hidden fees and no sales pitches. And you can receive Email Alerts any time we learn that your score has changed.
In addition to your FICO® Score, you’ll also see:
- Up to 2 factors affecting your score
- A historical chart tracking your score (after 3 months of history)
A quick background on credit scores:
According to CEB TowersGroup, a financial services industry analyst group, 90 percent of credit scores purchased by lenders are FICO® Scores. While FICO® Scores are some of the most widely used consumer credit card scores in lending decisions in the U.S., scores may differ between financial institutions, the type of credit you are applying for, and the credit bureau(s) data used to determine the score. Each lender has specific underwriting standards, so you should not assume that you will receive the same evaluation from lender to lender.
To enroll for your FICO® Score, view the Account Summary page and click on the Tools and Education link. You will be prompted to view some information about the complimentary program and then click the “Accept” button. It’s that simple.
If you’d like to view a quick video on this new tool, click here. <Link coming soon!>
So, let us know what you think. Do you like the FICO Credit Meter and supporting information? Are there areas for improvement? Do you have any questions? Let us know on the community blog post or on our Facebook page.